Dear Sir: I read in a recent Irish Farmers Journal (1 March) that a court date is set for TLT legal action by the receiver and it looks as if the banks have first preference to any funds that are left over for creditors.I have called many times in the past for a change in the unjust company law that allows preference for some creditors. That law came into place when times were very different and the companies almost had a free hand in drafting the law.
Dear Sir: I read in a recent Irish Farmers Journal (1 March) that a court date is set for TLT legal action by the receiver and it looks as if the banks have first preference to any funds that are left over for creditors.
I have called many times in the past for a change in the unjust company law that allows preference for some creditors. That law came into place when times were very different and the companies almost had a free hand in drafting the law.
It is very unjust for farmers, who put so much work into livestock production for so little profit. Why don’t the farm leaders demand a change in the law to give food producers the same protection as the banks and other preferred creditors? The receivers and liquidators should be controlled in their spending.
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