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.