Farmers seek legal advice on Castleblayney mart debt
The IFA will get the opinion of specialised lawyers on options available to a group of farmers who lost payments due on livestock and property after the closure of a Co Monaghan auctioneering firm.
Castleblayney Livestock Mart, Co Monaghan. \ Thomas Hubert
ADVERTISEMENT
Around 50 farmers among those left unpaid after the collapse of the company running sales at Castleblayney mart in the spring took part in an IFA meeting in the Co Monaghan town this Monday night to consider legal action.
Castleblayney-based auctioneers EP Nugent Ltd lost its license in February 2017 but continued to run sales at the mart until last March, when it closed down and went into liquidation with around €250,000 owed to farmers and around €1m to other creditors.
'Duty of care'
ADVERTISEMENT
The Property Services Regulatory Authority previously told the Irish Farmers Journal that it had updated the public register of licensees on its website and farmers could check that EP Nugent Ltd. had lost its licence. However, local solicitor Paul McCormack questioned whether this was sufficient to ensure the protection of customers.
During the meeting, IFA Ulster-north Leinster regional chairman Nigel Renaghan contacted IFA president Joe Healy to obtain legal assistance for the group of farmers. "We have agreed tho get the IFA's solicitors to liaise with Paul McCormack to get a second opinion from barristers. The IFA will pick up the tab for that," he told the meeting.
Find out more in this week's Irish Farmers Journal and on our weekly podcast.
Register for free to read this story and our free stories.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
Around 50 farmers among those left unpaid after the collapse of the company running sales at Castleblayney mart in the spring took part in an IFA meeting in the Co Monaghan town this Monday night to consider legal action.
Castleblayney-based auctioneers EP Nugent Ltd lost its license in February 2017 but continued to run sales at the mart until last March, when it closed down and went into liquidation with around €250,000 owed to farmers and around €1m to other creditors.
'Duty of care'
The Property Services Regulatory Authority previously told the Irish Farmers Journal that it had updated the public register of licensees on its website and farmers could check that EP Nugent Ltd. had lost its licence. However, local solicitor Paul McCormack questioned whether this was sufficient to ensure the protection of customers.
During the meeting, IFA Ulster-north Leinster regional chairman Nigel Renaghan contacted IFA president Joe Healy to obtain legal assistance for the group of farmers. "We have agreed tho get the IFA's solicitors to liaise with Paul McCormack to get a second opinion from barristers. The IFA will pick up the tab for that," he told the meeting.
Find out more in this week's Irish Farmers Journal and on our weekly podcast.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS