A leading barrister has claimed that large numbers of bankruptcy claims will be made by Irelands financial institutions as soon as the courts are allowed to resume normal service.
And according to Keith Farry, Irish farmers will be in the eye of the storm.
Farry spoke at a recent seminar on farm debt and personal insolvency, hosted by the Irish Creamery and Milk Suppliers Association (ICMSA). He explained:
Once the Covid-19 restrictions have been lifted, there is every prospect of the banks and other financial institutions moving to take legal action against account holders who are not repaying loans and a significant number of farmers will be caught up in this push.
Necessary support
Under such circumstances, farmers must immediately …
Read the full article at: https://www.agriland.ie/farming-news/tsunami-of-bankruptcy-cases-may-overwhelm-irish-agriculture-later-this-year/