Friday 27 April 2018

Laura Noonan: So why would Anglo spurn Drumm's offer of a €2m tip?

Laura Noonan

Laura Noonan

FROM the breathless coverage of David Drumm's lunge for bankruptcy last night, the casual observer could easily form the view that Anglo Irish Bank's chiefs are complete morons.

Drumm, the Anglo chief who led the bank to its collapse, had apparently offered it assets totalling €10m to clear debts of €8m.

The settlement, which included the banker's €5.4m pension pot, was knocked back and the bank ploughed on with a legal action that is due to start in the Four Courts on Tuesday.

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