Independent TD for Roscommon-Galway, Michael Fitzmaurice is of the opinion that vulture funds are increasingly targeting family farms around the country and it is a “very worrying development.”
Fitzmaurice believes that the introduction of emergency legislation could possibly have to be implemented as a result.
"The vulture funds are now targeting family farms and it is a growing problem. 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.” Fitzmaurice said.
Fitzmaurice revealed that he has made attempts to make contact in recent weeks, with “very limited success”.
The Independent TD for Roscommon-Galway said that the distressing situation has affected the mental health of parties that 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.”
Mr. Fitzmaurice has raised the issued on an ongoing basis and he has intentions to do the same once again in the Oireachtas this week.