(YouTube credit: NorthsProperty)
A US BANKRUPTCY judge has been asked to clear the way for an auction to be held for this palatial Malahide mansion – the home of former Anglo Irish Bank chief executive David Drumm and his wife Lorraine.
RTÉ News reports that the home – in the upmarket Abington estate – is the subject of a bidding war between two couples. Originally put on the market for €1.65 million earlier this year, a sale was agree for the house in late August – though RTÉ says a higher bid has now been made.
The outcome of the dispute will be of keen interest to many – not least Drumm’s former employer, the now-renamed Irish Bank Resolution Corporation, which as Drumm’s largest creditor would be entitled to a significant chunk of the sale proceeds.
Drumm’s wife Lorraine, however, would get 50 per cent of the proceeds as she is listed as the property’s joint owner, and is not affected by the bankruptcy claim.