Newstalk
Newstalk

16.16 17 Apr 2014


Share this article


David Drumm's absence from the trial was described as 'Hamlet without the Prince' by Pat Whelan's lawyers but the jury was never told why the former bank boss wasn't in the dock.

According to Sean FitzPatrick, David Drumm told him the deal to unwind Sean Quinn's 29% Contracts for Difference stake in the bank was 'kosher'. The former Anglo Chairman said Drumm told him he didn't need to know the names of the Maple Ten but assured him they were men of substance.

According to Pat Whelan, Drumm was almost in daily contact with the Financial Regulator about the Quinn unwind, so much so , he said it was like there was a hotline between them.

Sean FitzPatrick would later tell gardai that he did not have a social relationship with David Drumm, who succeeded him as Anglo CEO in 2005. He said the his advice was rarely sought because of Drumm's need to let the other executives in the bank know he was in charge.

Mr Drumm resigned as CEO of Anglo in December 2008, a day after Sean FitzPatrick quit as Chairman. He is currently living in the USA where he filed for bankruptcy in 2010 listing debts of €10.3 million.

Mr Drumm's bankruptcy case is being contested by his former employers (now IBRC) who allege he "fraudulently" tried to hide transfers of cash and assets. The case is due to be heard in a Boston court, over five days, late next month.


Share this article


Read more about

News

Most Popular

Live: Title

Now playing

00:00:00 / 00:00:00
Added to queue
Removed from queue

On Air

Share

Share


Up next

Episode title
Show
Duration

You currently have no podcasts in your queue.

Go to podcasts

On Air

Off The Ball

Off The Ball

19:00-22:00

Share

Up next

THE TOM DUNNE SHOW

THE TOM DUNNE SHOW

22:00-00:00

Share

BEST OF NEWSTALK

BEST OF NEWSTALK

00:00-06:00

Share

BREAKFAST BRIEFING

BREAKFAST BRIEFING

06:00-06:30

Share

BREAKFAST BUSINESS

BREAKFAST BUSINESS

06:30-07:00

Share

NEWSTALK BREAKFAST

NEWSTALK BREAKFAST

07:00-09:00

Share

THE PAT KENNY SHOW

THE PAT KENNY SHOW

09:00-12:00

Share

LUNCHTIME LIVE

LUNCHTIME LIVE

12:00-14:00

Share

MONCRIEFF

MONCRIEFF

14:00-16:00

Share

THE HARD SHOULDER

THE HARD SHOULDER

16:00-19:00

Share

OFF THE BALL

OFF THE BALL

19:00-22:00

Share

00:00:00 / 00:00:00

Share on