Renua Ireland has warned there will be a rural revolt if vulture funds attempt to profiteer from the misfortunes of farmers.
“Claims that Vulture Funds are planning to move on their rural portfolio are causing anger and grave concern across the country,” the party stated.
Last year Vulture Fund High Court repossession actions increased by more than 200% and the party claims concern is growing that the 885 repossession actions in 2017 are only the beginning of a sustained attack on small rural farmers.
“As an increasing number of debts, guaranteed by the family farm, reach the courts rural farms, rural families are facing a new attack,” party leader, Cllr John Leahy said.
“We will not stand idly by whilst Irish farmers are attacked by a tsunami of claims,” Cllr Leahy said.
“We will not allow the weak economic recovery of rural Ireland to be compromised by any vulture fund led attack on the small rural farm,” he said.
“Previously wind farm developers discovered the hard way that whilst it is hard to enrage us a risen rural Ireland cannot be defeated,” Cllr Leahy said.
Sensitive
Renua says while fire sales and quick fixes may work in cities, they are not the way to approach this uniquely sensitive issue.
“Every farmer’s position is different and must be handled on a case by case basis,” Cllr Leahy said.
“In certain cases, selling some of the asset might be the preferred option, particularly for elderly farmers,” he said.
“For those farmers who wish to continue to farm all solutions must centre on protecting the family farm,” he said.
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