Boston judge agrees to settlement with Drumm’s wife

A judge in Boston has agreed to a settlement between the wife of former Anglo Irish Bank CEO David Drumm and the court.

Mr Drumm has filed for bankruptcy in the US. This is being contested by the IBRC — the successor to Anglo Irish Bank.

As part of the agreement, Lorraine Drumm will pay a settlement and will then be permitted to keep a share of the rest of the assets she owns jointly with her husband. Mrs Drumm will have to pay a sum of almost €1m to the bankruptcy trustee.