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David Drumm's brother and sister-in-law lose €1m home

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Rachel Drumm leaving court yesterday. Picture: Courtpix

Rachel Drumm leaving court yesterday. Picture: Courtpix

Rachel Drumm leaving court yesterday. Picture: Courtpix

The brother and sister-in-law of former Anglo Irish Bank boss David Drumm have lost the €1m home they owned together.

Rachel Drumm - who is estranged from her husband Kenneth - still lives at Summerville, Foxgrove, Skerries, with her four children. She broke down in tears in the Circuit Civil Court when Judge Jacqueline Linnane handed the house back to EBS Limited.

Barrister Tadgh Dorgan, counsel for the bank, formerly EBS Building Society before it was taken over by AIB, told the court there was a debt of €1,262,555 outstanding on the property.

Dermot Sheehan, counsel for Mrs Drumm, asked the court to allow his client a six-month stay on a possession order to allow his client make arrangements for finding new accommodation.

Judge Linnane said it was so long since a payment had been made against three loans taken out on the property, that she would allow just three months.

The judge said five arrangements had been put in place with regard to repayments and none had been adhered to.

Irish Independent