David Drumm, the former chief of Anglo Irish Bank, has revealed all his assets and debts in a comprehensive set of documents that list his Anglo pension at $5 million (listed in dollars because he’s filing for bankruptcy in the U.S.), his wife Lorraine as a creditor to the tune of $200,000, and his pet dog as being worth $1.
Drumm lists a variety of other assets as part of his bid to be declared bankrupt in the U.S. state of Massachusetts. His total assets are listed as being worth $13.9 million, including his house in Cape Cod, worth nearly $3 million, his house in Malahide, valued at $1.5 million, and half ownership of a house in Skerries valued at $162,000.
His liabilities, though, he lists as being more than $14 million. Debtors including his wife; Cape Cod Five Cents Savings Bank and Dublin law firm, Eversheds O’Donnell Sweeney, who are owed $350,340; KBC Homeloans, owed $351,050; AIB, to whom he owes $26,000 in credit card debt; and unknown liabilities to the Revenue Commissioners, the Massachusetts Department of Revenue and the US internal revenue service.
And this is without factoring the €8 million that Anglo Irish Bank claims he owes them and which, they claim, is the reason he has filed for bankruptcy in the U.S.
Moving to Ireland
After living in Ireland for almost one year, this is what I’ve learned