IFA to meet with financial institutions to discuss Tralee Beef and Lamb

The Dail Committee for Finance and The Public Service is to organise a meeting with the IFA and the financial institutions involved in the closure of Tralee Beef and Lamb. The meeting has been organised in response to a call by the IFA for an investigation to be launched into the role of the banks and the auditor into the collapse of the plant in 2001.In a statement Munster Vice Chair Donal Kelly calls for the role of the banks in particular to be investigated. The IFA claim that as the main lending agency to the plant, Bank of Ireland allowed the factory to buy stock when they knew the funds were not there to pay for the supplies. Farmer creditors are involved in an ongoing dispute with financial institutions since the collapse of the plant in October 2001.They claim they are owed three and a half million euro but the banks say they have no responsibility to the farmers. Numerous protests and sit ins by creditors had been staged at The Bank of Ireland branch in Tralee, resulting in the bank taking out High Court Injunction against members of the IFA. A meeting is to be organised between the IFA and the financial institutions involved.