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Donegal beef farmer refused insolvency application on debts of €780,000


 
A personal insolvency application made by a Donegal beef farmer relating to borrowings of more than €780,000 owed to Pepper Finance Ireland has been dismissed by the Circuit Court.
At a sitting of Monaghan Circuit Court last week, Judge Verona Lambe dismissed the personal insolvency application made by the Donegal farmer, stating that he was not insolvent as he had farm assets of more than €1.85m which could be realised to repay the debts.
As part of the personal insolvency application, the farmer sought an extended restructure of his debts of more than €780,000 and offered to repay the borrowings over a 32-year period via monthly instalments of just over €2,800. ....

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