Anglo Irish Bank set to sue former chief exec Drumm

Anglo Irish Bank is to sue its former chief executive, alleging controversial activities during his time at the bank.

The Bank is lodging papers that have alleged misconduct and deception against David Drumm.

The allegations relate to his treatment of loans to its former chairman Sean FitzPatrick, as well as a number of other issues.

It follows claims in separate proceedings in a Boston court yesterday, which heard that David Drumm's personal finances were in a 'chaotic state' when he was running the bank and expanding its loan book.