David Drumm's bid for bankruptcy has failed in America.
The former Anglo Irish Bank boss has been told by a US court that he cannot walk away from his debts.
A judge in Boston said Mr. Drumm had made statements to the court that were "both knowing and fraudulent" and was "not remotely credible".
The ruling means Mr. Drumm could face financial ruin, and allow the IBRC to try to recover millions in unpaid loans.
Irish Times Correspondent in the US Simon Carswell says the judge found the bank had established that there was reason to deny David Drumm his bankruptcy bid:
