Wives might have to forfeit transferred properties

WIVES of banking bosses and developers could have to forfeit properties which were transferred to their names as a method of avoiding the repayment of loans.

Finance Minister Brian Lenihan said NAMA and Anglo Irish Bank “are examining spousal transactions and ensuring they are set aside” in pursuing all debts owed to them.

There have been a number of cases of property being put “out of reach” of creditors by transferring it to the names of spouses, including former Anglo chief executive David Drumm, who transferred half his home in Malahide to his wife’s name leading to difficulties with it being sold to repay part of the €8.5 million he owes to the bank.