The Property Services Regulatory Authority (PSRA) has taken Mountbellew Regional Co-op Mart in Galway to court over alleged irregularities with the mart’s client account.

Court filings show that affidavits were filed on Tuesday 7 February.

The Irish Farmers Journal understands a deficit in the mart’s account dates back to over a decade ago and is not related to the mart’s trading performance in recent years.

Mountbellew Mart has told the Irish Farmers Journal that any current liabilities are being fully honoured and that the mart is keen to work with the PSRA to resume trading as soon as possible.

The mart’s sheep sale was cancelled on Saturday last and no decision has been made regarding this Saturday’s sale.