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In a statement to the Irish Farmers Journal representatives of the auctioneers and sheriff have said 500 animals sold on Tuesday must now be resold.
An estimated 500 animals from the Kingston farm must now be resold "due to a failure to receive payment". Close on 1,000 animals were auctioned on Tuesday.
In a statement issued on Friday night, the auctioneers said, “a significant number of animals, many of which were expected to achieve the highest prices on the day, were bid upon by two parties who have failed to comply with the terms and conditions in relation to payment.”
"It is with regret, added expense and frustration that the sales agent must now proceed with an online tender process for the resale of the animals when legitimate bidders lost out on the opportunity to acquire the animals in question at the auction."
The sales agent on Tuesday was Denis Barrett, acting on behalf of the Cork County Sheriff representing creditors who are "owed a significant level of debt by Peter Kingston", the statement also said.
In pictures: Cradenhill herd dispersal sale
Inside the Cradenhill herd dispersal sale
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