Donegal farmer loses insolvency application on €780,000 debts

February 28, 2021

A personal insolvency application made by a Donegal beef farmer in relation to borrowings of almost €800,000 has been dismissed by the Circuit Court.

The case, involving Pepper Finance Ireland was heard at last week’s sitting of Monaghan District Court.

Judge Verona Lambe dismissed the application, stating that he was not insolvent as he had farm assets of more than €1.85 million which could be realised to pay the debts.

As part of the application, the farmer sought an extended structure of his debts and offered to repay the borrowings over a 32-year period in monthly instalments of just over €2,800.

Read the full article from the Farmers Journal via the following link: https://www.farmersjournal.ie/donegal-beef-farmer-refused-insolvency-application-on-debts-of-780-000-604366


Tags:

LEAVE A COMMENT

error: Content is protected