Farmer seeks lift on freezing order

A Co Laois farmer is to ask the High Court for a partial lifting of a freezing order on a 900-acre grain harvest.

Brian Carroll BL said yesterday the future of grain producer Jim Smith could be ruined if the injunction was allowed to stand.

Seed supplier Quinns of Baltinglass obtained the injunction last week restraining Mr Smith “from reducing in value or disposing of the proceeds of sale of cereal, grain, straw, livestock, or any other agricultural product”.

Mr Carroll said Mr Smith was using €4,000 of diesel a day in a battle against conditions to save the harvest.

Quinns obtained a judgment against Mr Smith in June, and appointed a receiver over monies allegedly owed to him by Glanbia.

Mr Carroll said Mr Smith was not owed any money by Glanbia, which had been sold grain futures in lieu of forward credit terms.

Mr Smith said he owed €3.3m to banks, and had to make annual repayments of just under €250,000. He paid €161,000 a year to lease machinery and, in respect of credit management and grain future sales, he had a commitment of about €664,250. He said it could be ruinous for him if he was restrained from dealing with the income from this year’s farming activity.