IFA takes out advert in newspaper in resonse to BOI claims

The IFA is hitting back at the Bank of Ireland`s claims that it has no obligation to farmer creditors of Tralee Beef and Lamb. The farming organisation has taken out a newspaper ad in direct response to the bank doing the same last week. Last week Bank of Ireland decided to put its message across via newspaper ads and this week it’s the turn of the IFA. Judging by the claims in both, the two sides are as far apart as ever.Ifa says as the main lending agency, Bank of Ireland allowed the factory buy stock when they knew the funds weren’t there to pay for the supplies. The farming organisation also says goodwill towards the bank is becoming a major issue. Bank of Ireland took out a High Court Injunction in December, which the IFA says they now regret. Some accounts have been closed by creditors, but it’s unclear if further action is planned.

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