The situation wherby vulture funds are increasingly targetting family farms around the country is a very worrying development and it is something that may need the introduction of emergency legislation.
The vulture funds are now targetting family farms and it is a growing problem. I have made several attempts to contact them with very limited success in recent weeks. These companies have bought loans at 30 and 40% and while I have no problem with them making a profit they should come out into the open and state their intentions clearly so people know what they are dealing with.
More and more people are becoming distressed at this situation and in some cases it is affecting the mental health of some of those who are under severe pressure. There will be very serious implications if people are threatened with the loss of their land and we have seen that down the years here in this country. It is a matter that I have been raising on a ongoing basis and I shall be raising it again in the Oireachtas this week.
