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David Drumm's Cape Cod house could sell for $4m

A US bankruptcy official wants to sell the former Anglo chief executive’s house in Cape Cod, Massachusetts.

File photo of former Anglo chief executive David Drumm.
File photo of former Anglo chief executive David Drumm.

A US BANKRUPTCY official has set a price for the sale of a Cape Cod, Massachusetts mansion which former Anglo Irish Bank CEO David Drumm claims is his principal residence.

RTÉ reports that the official is seeking $4 million for the house and its contents, but adds that a court will decide later this month if Drumm is entitled to any of the proceeds of the sale. He could be given as much as $500,000 of the money if the sale goes ahead at that price.

Both the bankruptcy official and Anglo Irish Bank argue that Drumm should not receive any funds from the sale.

Drumm bought two multi-million-dollar period houses in the Cape Cod area over three years ago. In this video from last year, RTÉ’s then-Washington correspondent Charlie Bird paid a surprise visit to Drumm at one of those houses:

For more information read RTÉ.ie’s report on Drumm’s Cape Cod house >

Column: David Drumm and Anglo fiddled while Rome burned >

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