An action by Anglo Irish Bank against its former chief executive David Drumm over €8.5 million in unpaid loans has been adjourned generally to the High Court list because bankruptcy proceedings against Mr Drumm in the US have yet to be finalised.

Anglo wants to recover €8.5 million from Mr Drumm while he is counter-claiming for some €2.6 million in salary, pension and deferred bonus payments and damages, including for “mental distress”.

Mr Justice Peter Kelly yesterday said he was removing the case from the Commercial Court, which fast-tracks business disputes, and adjourning it to the High Court non-jury list as the urgency had gone out of the case.

Anglo previously said it could not proceed with the action pending the outcome of the US bankruptcy proceedings involving Mr Drumm. A worldwide stay on legal proceedings against Mr Drumm applies due to the bankruptcy proceedings and Anglo had expressed concern it did not want to be seen to breach that stay.