Drumm's wife may be questioned in Boston court on bankruptcy claim

LORRAINE DRUMM, wife of the former Anglo Irish Bank chief executive David Drumm, may be questioned as part of her husband’s US…

LORRAINE DRUMM, wife of the former Anglo Irish Bank chief executive David Drumm, may be questioned as part of her husband’s US bankruptcy application.

Ms Drumm may also have to produce to the trustee appointed to her husband’s case, Kathleen Dwyer, documents relating to her and her husband’s finances.

Earlier this month, a hearing in Boston heard that Mr Drumm transferred more than €550,000 into accounts held by his wife in late 2008.

Mr Drumm owes €8.5 million to the bank. He resigned as Anglo’s chief executive in December 2008 and has since then set up home with his wife in the US.

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Lawyers for Ms Drumm and for Ms Dwyer discussed her being questioned and have submitted a suggested “stipulated order” to the Boston judge in charge of the Drumm case, Judge Frank Bailey.

The order would see Ms Drumm having to appear for examination 10 days after the trustee’s request, but would allow Ms Drumm to seek a protective order as to her appearance.

Within 10 days of the order, Ms Drumm will have to produce certain documents listed in an attachment to the suggested ruling.

If she believes a document is confidential, she has to submit it anyway so Ms Dwyer can use it during an examination.

Mr Drumm recently won a request to have certain information he may disclose in the case earmarked confidential.

The documents Ms Drumm may have to produce include all bank statements, cheques and brokerage statements in which she maintains a financial interest as well as all documents linked to any inheritances she received since she was married.

She may also have to supply all the documents she has relating to any job she had since she was married, income generated, trusts she is involved with, deeds or mortgages related to property she has a beneficial interest in, payments made in relation to such properties and any transfers of property between her and her husband.

She may also have to produce all bills of loading and other documents concerning property she or her husband shipped to the US from Ireland.

Colm Keena

Colm Keena

Colm Keena is an Irish Times journalist. He was previously legal-affairs correspondent and public-affairs correspondent