Former Anglo Irish Bank chief executive David Drumm has lost a case he took in Boston against a US bankruptcy trustee.
Mr Drumm claimed that the bankruptcy trustee Kathleen Dwyer made a serious error in filing documents too late. While the judge acknowledged that the trustee had been late in filing, he allowed her to continue her case that Mr Drumm should not be given a bankruptcy discharge.
The trustee has already sold a house in Cape Cod for almost $4m and is now moving on to sell the Drumms’ main residence in Boston.
But RTE News has learned that the Drumms are no longer living there . They have not paid the mortgage in the last two months and are now regarded as delinquent on the bank loan. The insurance on the house is also due to expire this month.
In court, counsel for David Drumm tried to paint this as a David and Goliath battle between their client and the might of IBRC, formerly Anglo. They claimed the court costs are running at $2,000 an hour and quoted the head of IBRC as saying he would pursue Mr Drumm even if it cost more than he owes. A full bankruptcy trial looks likely in early summer.
