THE US firm set up by disgraced former Anglo Irish Bank boss David Drumm has been dissolved after he failed to file any company records over the last two years.

Mr Drumm established the company, Delta Corporate Finance LLC, in 2009 as part of his bid to get a visa that would allow him to work and live in the US.

Now the company – established a month after he left Anglo – has been shut down by authorities in Massachusetts after they didn't receive any company filings from the firm since February 2010.

The purpose of the company – initially called Harborlight Capital Partners LLC – was described as providing "advisory and management services in the real estate finance sector".

The company, which paid Mr Drumm $9,000 a month in 2010 according to filings in his bankruptcy case, only submitted one annual statement to Massachusetts authorities in its more than three years in existence.

It reportedly never turned a profit and had just one client at any given time.

Previously, the Irish Independent named Boston-based builder John McGrail – a former Anglo Irish Bank borrower – as a client of Mr Drumm's consultancy firm.

The court-appointed trustee in Mr Drumm's bankruptcy case, Kathleen Dwyer, has raised questions about how Mr Drumm funded the establishment of the company.

She described a working capital loan from his wife Lorraine, used to set up the business, as "a sham transaction".

Mr Drumm secured his E2 investment visa in the US on the basis that he was setting up the company in 2009.

He has also been questioned about the business during the course of the case by lawyers for the now-liquidated IBRC, which claims he owes his former bank €8.5m.

A spokesman for the secretary of the commonwealth of Massachusetts, the office responsible for company records in the state, confirmed that Mr Drumm's company was dissolved on Sunday, June 30.

He said that the firm "can seek reinstatement as a Massachusetts corporation by filing the necessary reports".

Irish Independent