ICSA to continue with vulture fund protest

A protest against vulture funds in Dublin next week will continue as planned, the Irish Cattle and Sheep Farmers’ Association (ICSA) has confirmed.

Speaking ahead of the event, ICSA rural development chairman Seamus Sherlock has said the demonstration at the offices of BidX1 will go ahead as originally set out.

This comes in spite of BidX1 deciding to cease its sale of agricultural land “for the time being” in light of unagreed framework between all parties.

Commenting, Sherlock said: “Families right around the country have been forced into a position whereby their loans have been sold off to vulture funds without any forewarning.

We have an obligation to ensure that those who find themselves caught in the grip of vulture funds are afforded every opportunity to come to a reasonable negotiated settlement.

“However, the prospect of a quick sale is often more attractive than negotiating such a reasonable negotiated settlement.

“The ICSA wants to send a clear message that the rights of homeowners and landowners must not be trampled upon.”

The protest will take place this Monday (November 26) from 12:00pm at the BidX1 offices at Waterloo Exchange, Waterloo Road, Dublin 4, according to the organisation.

Earlier today, in a statement to AgriLand, a spokesperson for BidX1, Ireland’s largest property auction company, said:

Due to a lack of an agreed framework between all parties on the sale of agricultural land, BidX1 has decided to cease the sale of agricultural land until such time as there is an agreed framework in place.

The firm is open to farmland sales in the future, on the condition that all parties – including owners and consumers – are in agreement, the spokesperson added.