A “significant number of farmers” were affected by the Castleblayney Mart closure in 2018, according to the Property Services Regulatory Authority (PSRA), which has confirmed to Agriland that total compensation claims made against the mart reached just over €610,000.
These farmers were among 78 total claimants but the exact number of impacted farmers could not be provided by the PSRA, which, it said, does not record the occupation of every complainant.
Of the 78 claims against Castleblayney Mart, received by the PSRA, just two were granted to the value of €21,746, while a third case is currently before the courts, a spokesperson for the PSRA said.
The other 76 claims for compensation were declined “due to the fact that Castleblaney Mart was not licensed at the time during which the loss arose” the spokesperson said.
According to the PSRA spokesperson, claims from farmers related to livestock for which they were not paid, and for money owed in relation to land sales.
Castleblaney Mart was established in 1963 by Edward Paul Nugent and held regular sales of cattle, sheep, goats and pigs, with machinery auctions held periodically.
In March 2018, it emerged that the company had run into difficulties and sales scheduled to take place towards the end of that month at the mart were cancelled.
The following month, a liquidator was appointed.
It later emerged that the auctioneering licence held by Edward Paul Nugent – the company that operated the mart – had expired in February 2017.
According to the PSRA, individuals can only make claims for compensation “where dishonesty has occurred and where the agent agent that they have engaged is licensed“.
Any individual or company providing a property service is legally required to hold a PSRA licence.
“Accordingly, our advice to anyone engaging a property service provider, including a mart, is that they ensure that the entity holds a valid licence by the PSRA,” the spokesperson said.
Any claim that is submitted to the PSRA against an unlicensed agent is refused.
A publicly available register of all licensed property services providers is available on the PSRA website where consumers can check the licence status of any property service provider, including businesses and employees.