A personal insolvency arrangement can offset a forced land sale
The use of a personal insolvency arrangement (PIA) has been suggested for farmers forced to sell their land due to debt. Shane O’Loughlin, the farm business chair from the Irish Creamery Milk Suppliers Association (ICMSA), has highlighted that the court-approved PIA mechanism has thus far been successful in preventing fire sales of farmland by vulture funds. O’Loughlin explains that the package is usually facilitated by a personal insolvency practitioner, who…