Farm BusinessVulture Funds

IFA Welcome Removal of Land in Co Meath from Online Auction Site

IFA has welcomed the decision by online auction house BidX1 to remove two parcels of land in Co Meath from their sales site.

These lands belonging to the McCann family are being forcibly sold by vulture fund Promontoria.

Last week, IFA placed signs on the lands objecting to their forced sale and said they would be standing with the farmers opposing the sale.

Due to that action, BidX1 have now removed the lands from their site and are no longer offering them for sale.

IFA Farm Business Chairman Martin Stapleton welcomed the move by BidX1 and called on the vulture fund to have direct engagement with IFA and the farmers to resolve the issue.

“Farmers have to be given a fairer period of time to repay their debts.  The McCanns, through the IFA, have put forward a comprehensive proposal. IFA is sick of dealing with endless intermediaries on behalf of these funds.  It is time for them to put faces to their company and sit down with IFA and try to resolve cases,” he said.

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