Speaking at the IFA meeting of marts and farmers on the TLT receivership in Athlone, Co Westmeath last night (Tues), IFA President John Bryan said there was a lot of anger and concern that livestock purchased by TLT were not paid for.
He said the IFA and ICOS were very clear that payment for livestock supplied by farmers and marts must be prioritised.
IFA National Livestock Chairman Henry Burns briefed the attendance on the details of IFA meetings with the receiver Gearoid Costello of Grant Thornton, and separately with the directors of TLT Davide and Paolo Garavelli earlier in the week. He said the Association solicitors were in contact with the receiver over last weekend and communicated the IFA position immediately.
Henry Burns said there was an urgent need for clarity on the extent of the creditors and debtors in TLT and he called on the receiver to make this information available. He said IFA made it very clear to both the receiver and the TLT directors that payment for livestock must be prioritised. “The key component to finding any type of acceptable resolution to this situation is that farmers and marts are paid for the livestock supplied.”
Henry Burns said IFA has also been in contact with the HSBC bank that appointed the receiver.
The IFA President John Bryan said the live export trade is very important for price competition across the €2bn beef and livestock sector.