Dozens of claims expected from farmers hit by mart closure
OVER 40 claims are expected to be lodged to the Property Services Regulatory Authority (PSRA) by farmers left out of pocket following the closure of Castleblayney Mart in Co Monaghan.
It is understood that farmers were owed in the region of €200,000 when the mart and auctioneering company owned by Edward Paul Nugent Ltd was liquidated on April 9 last year.
IFA Monaghan chair Frank Brady said a meeting held in Castleblayney last week heard that one farmer who had a deposit worth €8,000 down on land with the mart, lodged a compensation claim with the PSRA. This was initially rejected but following an appeals process with the Property Services Appeal Board (PSAB) they were successful.
Mr Brady said this now "sets a precedent" for more farmers to take compensation cases.
Solicitor Paul McCormack of McCormack and Co said that claims can be made to the PSRA on the grounds that the PSRA were "negligent" allowing Castleblayney mart to trade until April 2018 even though it lost its licence in 2017.
"Those owed money can contact me to make a claim under Section 78 of the Property Services Regulatory Act 2011," he said.
"There's no guarantee everyone will get their money and all the claims will probably be rejected at first, but they can then be appealed."
Mr McCormack said that claims can be made up to one year after the mart went in to liquidation so time is ticking for farmers owed money.
He said he is now dealing with claims from over 40 farmers owed in the region of €150,000. He added that anybody who is owed money from the mart closure should contact his firm on 042 9740008.