Tuesday 24 April 2018

Dearbhail McDonald : Anglo led a merry dance at banker's house party

Dearbhail McDonald

LANIGAN's Ball is a traditional Irish song about a wild party that ends with rows and absolute ructions.

Its invocation yesterday by High Court judge Peter Kelly was, then, somewhat appropriate, not just because the riotous lending rave started by nationalised lender Anglo Irish Bank and aped by other banks has ended in a potential €90bn pool of tears -- €50bn for the banks, €40bn for NAMA -- but also because the alleged efforts by its exiled former CEO David Drumm to keep his half share of his family home in Malahide out of Anglo's reach has involved the legal equivalent of dancing skills that a Riverdancer might struggle with.

David and Lorraine Drumm arrived home from the US in 2003, after establishing a foothold for the bank stateside. The couple bought a home, as married couples do, and Abingdon was registered in both names, as married people's houses are.

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