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Drumm home cleared for sale

FORMER Anglo chief David Drumm's plush Malahide home has been finally cleared for sale.

The US court handling the bankruptcy of the former chief executive has given the sale the green light after a final bid of €1.431m was agreed by his bankruptcy trustee.

The bid from Margaret and Patrick O'Connell was accepted after two bidders for the house raised their offers, according to records filed in the court yesterday.

The six-bedroom house on the gated estate in Abington, Malahide, was advertised in January with a sale price of €1.65m, but it attracted few offers.

Mr Drumm's wife Lorraine is entitled to half the proceeds from the sale of the Malahide property after the costs of the sale. However, under an agreement in April 2012 she must pay a six-figure sum to the trustee.

The bankruptcy trustee has already sold Mr Drumm's Cape Cod home in the US for €3m and is also planning to sell his family home in a Boston suburb.