Farmers told to 'stand back' from forced disposals as 150,000 acres of farmland faces distressed sale
The IFA is calling on farmers to 'stand back' from forced sales of farmland, as it estimates that at least 150,000 acres of farmland is under threat from forced sales.
Martin Stapleton, IFA Farm Business Chairman, has said that at least 2,500-3,000 farmers whose farmers may be in 'danger' and are facing vulture funds selling their farms to settle debts.
"It is not true that farmers are not willing to engage, we find it's the vulture funds who are not engaging." IFA, he said, is opposed to any forced sale of farms by vulture funds where the farmer is willing to implement a credible solution.
The key people, he said, in this are potential buyers and we are saying "don't get involved with a vulture fund for the sake of quick buck...it is simply not right to force through a sale where there is an alternative on the table".
IFA President Joe Healy said "the faceless funds which ave no understanding of farming are hellbent on destroying families while feeding on the carcass of the family farm.
"Farm families should be given the time to repay their debts over a longer term to keep the farm intact."
Loans that are barely in the category of being called 'distressed' are being sold with other loans to make the overall package more attractive, Martin Stapleton said.