Vulture fund gives farmer two weeks to leave or go to jail
A High Court judge has accepted an application by the receiver to an indebted Co Kildare farm to have all animals and machinery removed or place the farmer in detention.
The case was heard this Tuesday at the Four Courts in Dublin. \ Jack Caffrey
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Receiver Tom Kavanagh obtained an order from the High Court this Tuesday for the "attachment and committal" of farmer Tom Morrin of Donore, Caragh, Naas, Co Kildare.
This means the farmer may go to prison if he has not removed all machinery and livestock and handed over vacant possession of the farm within 14 days.
The receiver also secured permission to sell any equipment or cattle remaining on the farm after this deadline, or to destroy any animals deemed unfit for transport.
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Justice Leonie Reynolds insisted that this would be the final window of opportunity for Mr Morrin following a previous stay in December.
Buyer
Mr Morrin's lawyer told the court that he had found a buyer for his farm, but the deal fell through last week because the receiver had put unreasonable pressure on the buyer to close the sale quickly.
Counsel for the receiver rejected responsibility for derailing the deal and the judge accepted this.
The receiver's action is based on a 2017 judgement ordering the eviction of Mr Morrin over a debt of around €2m the farmer owed to Pentire Property Finance Ltd, a vulture fund which bought the farmers' debt from Bank of Scotland in 2015.
Mr Morrin's solicitor told the Irish Farmers Journal after the hearing that her client intended to appeal the order made at Tuesday's "unfair hearing".
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Title: Vulture fund gives farmer two weeks to leave or go to jail
A High Court judge has accepted an application by the receiver to an indebted Co Kildare farm to have all animals and machinery removed or place the farmer in detention.
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Receiver Tom Kavanagh obtained an order from the High Court this Tuesday for the "attachment and committal" of farmer Tom Morrin of Donore, Caragh, Naas, Co Kildare.
This means the farmer may go to prison if he has not removed all machinery and livestock and handed over vacant possession of the farm within 14 days.
The receiver also secured permission to sell any equipment or cattle remaining on the farm after this deadline, or to destroy any animals deemed unfit for transport.
Justice Leonie Reynolds insisted that this would be the final window of opportunity for Mr Morrin following a previous stay in December.
Buyer
Mr Morrin's lawyer told the court that he had found a buyer for his farm, but the deal fell through last week because the receiver had put unreasonable pressure on the buyer to close the sale quickly.
Counsel for the receiver rejected responsibility for derailing the deal and the judge accepted this.
The receiver's action is based on a 2017 judgement ordering the eviction of Mr Morrin over a debt of around €2m the farmer owed to Pentire Property Finance Ltd, a vulture fund which bought the farmers' debt from Bank of Scotland in 2015.
Mr Morrin's solicitor told the Irish Farmers Journal after the hearing that her client intended to appeal the order made at Tuesday's "unfair hearing".
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