Battle to sell Drumm house

THE estate agent tasked with selling former Anglo Irish Bank chief David Drumm’s former home in north Co Dublin faces an uphill battle, as no fewer than five other houses in the exclusive estate are already on the market.

A bankruptcy court in Boston, where Mr Drumm has lived since fleeing amid the bank’s collapse in late 2008, last week cleared the way for the sale of his one-time family home in Abington, Malahide. The proceeds would go to Anglo — now known as Irish Bank Resolution Corporation — which is pursuing him for debts of over €7.5 million.

While the six-bedroom home was valued at €2.8m when first put on the market in 2009, it attracted little interest and values have plummeted since. No 20 has not been publicly advertised for sale, but when it does hit the market, it faces competition from at least five nearby homes, including three other six-bed residences with prices starting at €1.8m.

Meanwhile, gardaí who spent part of the weekend questioning Mr Drumm’s former boss, ex-Anglo chairman Sean Fitzpatrick, are preparing a file for the DPP. Mr Fitzpatrick was arrested for a second time early last Friday by detectives investigating financial irregularities at the ruined bank and was held overnight before being released without charge on Saturday.

The 63-year-old, who was declared bankrupt last year, delivered himself to Bray Garda Station for arrest by prior arrangement.