Wednesday 7 December 2016

Ex Anglo's David Drumm offers to provide evidence via video link

Published 24/07/2015 | 02:30

David Drumm, the former CEO of Anglo Irish Bank
David Drumm, the former CEO of Anglo Irish Bank

The Banking Inquiry has sought legal advice on whether to allow the former CEO of Anglo Irish Bank, David Drumm, give evidence via video link from the United States

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Mr Drumm, who had been due to appear before the hearing next Wednesday, has offered to provide his testimony while remaining in America.

However, the inquiry's committee has reserved its position as to whether or not this is acceptable.

Some members of the inquiry have voiced their opposition to Mr Drumm's offer, given that his extradition from the United States is being sought by the State.

The committee must also determine if the proposed video link will meet Mr Drumm's obligations to assist the Banking Inquiry.

However, committee sources say a precedent was set when members engaged with the former ECB chief, Jean-Claude Trichet, who answered questions at a separate location in Dublin. His engagement was deemed admissible as evidence.

While the Banking Inquiry has powers to compel witnesses, the remit does not extend beyond this jurisdiction.

The committee is expected to receive legal advice on Mr Drumm's offer next week and it will then be a matter for the members to decide on a future course of action.

It must also be determined if video evidence constitutes compliance with the direction issued by the committee.

Mr Drumm has already provided a witness statement to the inquiry.

The former chief executive of the now-defunct bank currently resides in the US, where he filed for bankruptcy in 2010. This was refused by a US judge, a ruling later appealed by the former banker.

Irish Independent

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