Farmers owed money after the closure of Castleblayney Mart in Co. Monaghan earlier this year are being urged to attend a meeting next week.

A meeting to discuss the best course of action will take place in the Glencarn Hotel, Castleblayney, next Monday (July 31) at 8:30pm.

All farmers who are owed money after the mart closed earlier this year are encouraged to attend the meeting by the chairman of the Monaghan branch of the Irish Farmers’ Association (IFA) Frank Brady.

Brady was selected to chair a committee to deal with farmers’ compensation claims after news of the mart closure came to light.

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

It was confirmed in April that a liquidator had been appointed to the company which operated the mart Edward Paul Nugent Ltd.

Speaking previously to AgriLand, Brady said: “There are well over 100 farmers owed money as a result of the mart going into liquidation.

The mart was trading without a licence since February 2017. The Property Services Regulatory Authority (PSRA) was aware that the mart was still trading; it sent out six letters that we’re aware of – but it didn’t take any action.

“It has to be held accountable as well. Why should it be allowed to walk away from the situation now? It knew that the mart was trading without a licence and it didn’t close it down.”

It is understood that those attending next week’s meeting will decide whether the group should take legal action against the PSRA for not warning the public that the mart’s parent company was trading without a licence.

Farmers who are in favour of taking legal action will be asked to make a “small donation” towards the associated costs of moving the case forward.