Rise in farm assets being frozen in credit actions
The farmer group has expressed deep concern in relation to family farm debts due to creditors’ use of these orders, which typically provide that EU payments owed to farmers by the Department of Agriculture can be frozen in favour of the creditor.
The ICSA says the process is stacked in favour of the creditor, who can get the order without giving the debtor a chance to state his case in the first instance, and the only option available for the debtor is to appeal to the courts.
