David Drumm set to take up bail after court hearing

Former Anglo Irish Bank chief executive David Drumm could today taste freedom from custody for the first time since he was arrested by US officials last October.

Mr Drumm was yesterday granted €150,000 bail by a Dublin court following his extradition from the US to face trial over financial irregularities at the bank.

The “voluminous” case involves allegations of €7bn back-to-back transactions with Irish Life & Permanent, which the State believe was part of a conspiracy to defraud. The charges also allege unlawful loans to the so-called Maple 10 group of investors as well as members of Sean Quinn’s family.