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An IFA delegation will meet with senior staff at AIB on Friday week, over AIB’s decision to sell off over 100 farm loans to Everyday Finance earlier this month, an affiliate of so-called vulture fund Cerberus.
The meeting comes following the protest held by the IFA outside AIB’s AGM in Ballsbridge on Wednesday over the loan sales.
An IFA spokesperson told the Irish Farmers Journal that it has suspended its campaign plans to hold protests outside AIB branches around the country pending the outcome of next Friday’s meeting.
“Pending the outcome of the meeting, we are suspending the campaign. We will take a decision on it then,” the spokesperson said.
‘Wrong’
Speaking at the protest on Wednesday, the IFA farm business chair Martin Stapleton said: “It is wrong that AIB would sell these loans to a vulture fund, that is not interested in resolving issues by entering into long-term arrangements with farmers.”
Irish taxpayers retain a 71% stake in AIB
"This gave false hope to farmers who are under serious pressure.
“Irish taxpayers retain a 71% stake in AIB. We bailed out this bank when it was on its knees, but there is no such mechanism is place for people who are genuinely doing their best to meet their repayments,” he said.
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