The IFA intends to hold protests outside AIB branches around the country.
ADVERTISEMENT
Up to 60 farmers took part in an IFA protest against AIB’s sale of farm loans to an overseas vulture fund outside the bank’s AGM in Dublin on 24 April.
It’s understood that 100 farm loans were included in the loan sale at the beginning of April to Everyday Finance, an affiliate of so-called vulture fund Cerberus.
Martin Stapleton, IFA farm business chair, criticised the bank for selling the loans of “genuine farmers who have been trying to pay and engage” with AIB.
“It’s impossible to understand why the government would facilitate AIB in doing that,” Stapleton said, pointing out taxpayers held a 71% share in the bank. The alleged sale of farm loans belonging to genuine farmers counters assertions made by the chief executive of AIB Colin Hunt who told an Oireachtas Committee: “Our clear preference is to restructure on case-by-case basis with customers who engage.”The IFA now intends to hold protests outside AIB branches around the country.
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.
Up to 60 farmers took part in an IFA protest against AIB’s sale of farm loans to an overseas vulture fund outside the bank’s AGM in Dublin on 24 April.
It’s understood that 100 farm loans were included in the loan sale at the beginning of April to Everyday Finance, an affiliate of so-called vulture fund Cerberus.
Martin Stapleton, IFA farm business chair, criticised the bank for selling the loans of “genuine farmers who have been trying to pay and engage” with AIB.
“It’s impossible to understand why the government would facilitate AIB in doing that,” Stapleton said, pointing out taxpayers held a 71% share in the bank. The alleged sale of farm loans belonging to genuine farmers counters assertions made by the chief executive of AIB Colin Hunt who told an Oireachtas Committee: “Our clear preference is to restructure on case-by-case basis with customers who engage.”The IFA now intends to hold protests outside AIB branches around the country.
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