Farmland is intrinsically linked to farm family homes and debt secured against it should be considered relevant debt under personal insolvency legislation, according to IFA Farm Business Chairperson Rose Mary McDonagh.
n IFA delegation recently met with the Minister for Justice Helen McEntee and the Minister of State for Law Reform James Browne to discuss the ongoing reform of the Personal Insolvency Act.
Farmland is more fixed than typical business assets. The so-called vulture funds seek to immediately sell land belonging to farmers in arrears, which would have a devastating impact on a farms potential to generate revenue.
IFA said it will work with the Minister and her Department to explore if a distinction can be made for farmland…
Read the full article at: https://www.independent.ie/business/farming/news/farming-news/efforts-underway-to-secure-distinction-for-farmland-in-personal-insolvency-laws-40227976.html
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