Former Anglo Irish Bank chief executive David Drumm has failed in his efforts to be declared bankrupt in the US, with the judge in Boston accusing him of lying.

Judge Frank Bailey said he did not find Mr Drumm "remotely credible" and found his conduct to be "both knowing and fraudulent".

He said the Irish Bank Resolution Corporation and the court-appointed trustee Kathleen Dwyer had established cause to deny Mr Drumm bankruptcy "many times over".

He said Mr Drumm's statements to the court were "replete with knowingly false statements, failures to disclose, efforts to misdirect, and outright lies".

Judge Bailey made his comments in a 122-page judgment that was issued tonight.

He said IBRC and Ms Dwyer had put forward 30 objections that he upheld as reasons to deny Mr Drumm discharge from his debts.

Mr Drumm had sought the court's protection to walk away from his debts totalling around €10.5m.

He had asked a bankruptcy court in Boston for the protection after he moved to the US following the collapse of the bank.

During hearings spread across six days last May and June, lawyers for IBRC and Ms Dwyer appealed to the court not to discharge Mr Drumm from debts.

They claimed that he had shown an extraordinary level of "disdain, unquestionable recklessness and indifference to the rules".

In response, Mr Drumm's lawyer told the court that he had made an honest mistake and had been subjected to a "witch-hunt".

But after seven months of deliberations, Judge Bailey refused Mr Drumm the protection of bankruptcy.

He said the former banker's conduct disqualified him from the "privilege" of discharge in the US system of bankruptcy.

This means that he can now be pursued for all of the money he owes.