Sellers of livestock are among creditors lining up to recover funds from the company operating Castleblaney Livestock Mart, which has gone into liquidation.
Around 80 farmers are owed approximately €160,000 following the closure of Castleblayney Livestock Mart last month, Monaghan IFA chair Frank Brady told the Irish Farmers Journal after meeting liquidators appointed to mart operator Edward and Paul Nugent Ltd.
Other creditors include six workers expecting redundancy pay and clients who paid deposits to the company’s property auctioneering business. Of up to €1.2m in debt, around €560,000 is claimed by company owner Arthur Connell Nugent, according to IFA figures obtained from liquidators Fitzwilliam Corporate Insolvency.
Brady said farmers must be paid in full to ensure goodwill for any future arrangements at the mart.
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Title: 80 farmers owed €160,000 after mart closure
Sellers of livestock are among creditors lining up to recover funds from the company operating Castleblaney Livestock Mart, which has gone into liquidation.
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Around 80 farmers are owed approximately €160,000 following the closure of Castleblayney Livestock Mart last month, Monaghan IFA chair Frank Brady told the Irish Farmers Journal after meeting liquidators appointed to mart operator Edward and Paul Nugent Ltd.
Other creditors include six workers expecting redundancy pay and clients who paid deposits to the company’s property auctioneering business. Of up to €1.2m in debt, around €560,000 is claimed by company owner Arthur Connell Nugent, according to IFA figures obtained from liquidators Fitzwilliam Corporate Insolvency.
Brady said farmers must be paid in full to ensure goodwill for any future arrangements at the mart.
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