Ex-Anglo chief resists €8.3m bank bid

FORMER Anglo Irish Bank chief executive David Drumm is resisting the bank’s bid for summary judgment orders for€8.3 million against him over unpaid loans and is counterclaiming for €2.6m over termination of his employment and loss of bonuses, the Commercial Court heard yesterday.

Mr Drumm, now living in Cape Cod, USA, has, in letters to Anglo, claimed he has sufficient assets to meet his liabilities to the bank but its demand for immediate repayment is premature and in breach of loan agreements with him. He also claimed he is being harassed.

The bank denies those claims and has alleged Mr Drumm has failed to date to file a statement of affairs.