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Former Anglo Irish CEO enters counterclaim over job loss

08.12.2009
The former chief executive of Anglo Irish Bank David Drumm has entered a counterclaim against the bank as it aims to recoup unpaid loans from him of some €8m.

The Commercial Court in Dublin heard yesterday that Drumm, who currently lives in the US, is counterclaiming for some €2.6m over the termination of his employment at the now nationalised lender and a bonus he says he is entitled to.

State-owned lender Anglo Irish Bank began suing Drumm last month. In addition to attempting to recoup unpaid loans, the bank is engaged in a separate legal action to prevent the transfer of property from Drumm to his wife’s name.

Drumm resigned as CEO of Anglo Irish in December of last year following revelations over secret loans to directors.


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