Bank won’t contribute to Tralee Beef compo
Farmers who supplied livestock to the factory immediately prior to its collapse are owed €3.5m.
Now, Anglo Irish Bank has confirmed that they will not contribute towards a farmers’ compensation fund.
Bank of Ireland and Anglo Irish Bank, and the purchasers of the site of the former meat plant at Tralee, had been approached by farmer representatives, with Donal Kelly, IFA’s Vice-President in Munster strongly making the case that farmers should be recompensed for their loss.
He called for the bankers and the site purchasers to agree to contribute to a common fund to partly compensate farmers.
He said a compensation fund would be set up only if all three parties contributed.
While accepting that there was no legal obligation on them, he claimed they had moral obligations.
However, a spokesperson for Anglo Irish Bank has confirmed they will not contribute.
Bank of Ireland has also resisted making any commitment towards compensating farmers left unpaid by Tralee Beef and Lamb.
Anglo Irish Bank was a secured lender to the company and recovered a loan of €700,000 when the factory was sold.
Bank of Ireland was the company’s day to day banker, and was owed more than €800,000 at the time of the collapse.
Farmers have staged protests at the Annual General Meeting of Anglo Irish Bank at Dublin, and in some Bank of Ireland premises.
Restrained by High Court order from further protesting at Bank of Ireland branches, IFA officers have responded by telling the Bank they don’t want any financial sponsorship from them.
