There have been "horror stories" in the past few weeks of farm families finding out their farm is up for sale from their neighbours, according to ICMSA President Pat McCormack. "We have had some horror stories in the last number of weeks, where farm families have been notified by their neighbours that the place was for sale on the internet and that is simply unacceptable." It comes after the Tanaiste Leo Varakdar said farmers not paying back their debts are increasing borrowing costs on other farmers. His comments came after the Farming Independent reported a renewed upsurge in forced farm sales by vulture funds, according to personal insolvency practitioners (PIPs) and the farm organisations. However, Personal Insolvency Practioner Gary Digney said that based on his experience there is little or no debt write off sought in farm cases.

Source: Irish Independent December 05, 2020 07:18 UTC