Bankruptcy official to indicate intentions in Drumm case

THE US official administering the bankruptcy of former Anglo Irish Bank chief executive David Drumm is expected to indicate to the Commercial Court shortly whether she intends to maintain his defence to proceedings in which the bank is seeking orders requiring Mr Drumm repay loans of some €8 million.

The US Trustee in bankruptcy, Kathleen P Dwyer, must also indicate whether she intends to prosecute Mr Drumm’s counter-claim to Anglo’s proceedings in which he is seeking some €2.6m in salary, pension and deferred bonus payments and damages, including for “mental distress”.

Those proceedings against Mr Drumm, plus a separate action by the bank against Mr Drumm and his wife Lorraine over his disputed transfer of the couple’s former family home in Malahide into Mrs Drumm’s sole ownership, were mentioned at the Commercial Court yesterday before Mr Justice Peter Kelly.