Farmers owed as much as €200,000 by Castleblayney Mart

Farmers who sold livestock in Castleblayney Mart are owed as much as €200,000, a source within the Irish Farmers’ Association (IFA) told AgriLand.

A meeting took place earlier this week to discuss the situation at the mart, which was established in 1963 by Edward Paul Nugent.

Reports emerged in March that the mart had run into difficulties and sales scheduled to take place towards the end of the month were cancelled.

It was confirmed earlier this month that a liquidator had been appointed to the company which operates the mart.

It was originally thought that farmers were owed in the region of €120,000 by the mart, but attendance at this week’s meeting suggested that this figure is much closer to €200,000, a source within the IFA said.

Between 80 and 100 people attended this week’s meeting, with most of those present owed money by the mart for livestock. It is understood that amounts owed vary from around €300 to as high as €8,500.

The IFA source also indicated that in excess of €300,000 is owed to people who placed deposits on property – some of which included farmland – with the auctioneering company.

Meanwhile, it emerged at the meeting that the auctioneering licence held by Edward Paul Nugent Ltd – the company which operates the mart – had expired in February 2017. This information is available to view on the Property Services Regulatory Authority’s website.

The licence types which expired included:
  • Licence Type A – the auction of property other than land;
  • Licence Type B – the purchase or sale, by whatever means, of land;
  • Licence Type C – the letting of land;
  • Licence Type D – property management services.

Castleblayney Mart held regular sales of cattle, sheep, goats and pigs – while machinery auctions were held periodically.

It is understood that Edward Paul Nugent Ltd directly employed about 10 people.