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Insolvency arrangement saves Meath farm from vulture funds


Personal insolvency practitioner Gary Digney.
A Meath farmer managed to save his land and renegotiate his debt, worth over €580,000, to so-called vulture funds Promontoria and Pepper Finance, through the use of a personal insolvency arrangement (PIA).
Gary Digney of PKF-FPM Accountants, Balbriggan, took on the case and said that Pepper Finance had a hold over 30ac of land and the farmhouse, while Promontoria held 35ac of land. There was a further €80,000 owed to creditors.
The farmer contacted Digney when Promontoria put the land up for sale in 2019 and he was then able to get a protected certificate to stop the sale and give the farmer a chance to put forward a proposal to repay his debt. ....

Gary Digney , Pepper Finance , Everyday Finance , Vulture Funds , Hannah Quinn Mulligan , மிளகு நிதி , தினமும் நிதி , கழுகு நிதி , ஹன்னா க்வின் முல்லிகன் ,

Donegal beef farmer refused insolvency application on debts of €780,000


 
A personal insolvency application made by a Donegal beef farmer relating to borrowings of more than €780,000 owed to Pepper Finance Ireland has been dismissed by the Circuit Court.
At a sitting of Monaghan Circuit Court last week, Judge Verona Lambe dismissed the personal insolvency application made by the Donegal farmer, stating that he was not insolvent as he had farm assets of more than €1.85m which could be realised to repay the debts.
As part of the personal insolvency application, the farmer sought an extended restructure of his debts of more than €780,000 and offered to repay the borrowings over a 32-year period via monthly instalments of just over €2,800. ....

Verona Lambe , Danske Bank , Monaghan Circuit Court , Circuit Court , Pepper Finance Ireland , Judge Verona Lambe , Pepper Finance , Judge Lambe , Farm Business , Lorcan Allen , வெரோனா ஆட்டுக்குட்டி , மோனகன் சுற்று நீதிமன்றம் , சுற்று நீதிமன்றம் , மிளகு நிதி ஐயர்ல்யாஂட் , நீதிபதி வெரோனா ஆட்டுக்குட்டி , மிளகு நிதி , நீதிபதி ஆட்டுக்குட்டி , பண்ணை வணிக ,

Everyday succeeds in High Court motion on Lavelle loans


Galway-based Everyday Finance has succeeded in a High Court motion to be named the first claimant in a case related to security that was used by financier Peter Lavelle to raise loans from Anglo Irish Bank.
The move was objected to by Capita, which is the trustee of a trust whose original beneficiaries were Mr Lavelle, his wife and children.
In 2019, Everyday – which is owned by London-based Link Financial – acquired loans for which Mr Lavelle had provided interests in shopping malls in Bulgaria and Poland as security.
Everyday acquired them from another firm called Stapleford Finance.
Mr Lavelle borrowed money from the now defunct Anglo Irish Bank in 2006 and 2007 to invest in property deals promoted by Quinlan Private, which is now known as Avestus Capital Partners. ....

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