Farmers cannot be forced to sell land to clear debts following landmark insolvency ruling

High Court decision against vulture fund Promontoria Oyster offers hope to indebted farmers

The High Court, Dublin

Shane Phelan

A significant High Court ruling means heavily indebted farmers can avail of personal insolvency arrangements (PIAs) to avoid the forced sale of their land.

The decision has major implications for how banks and vulture funds deal with farmers, most of whom are asset-rich but cash-poor.