One of the longest-running litigations in the State’s Agriculture sector was brought to a close today when the Minister for Agriculture and Food, Mr Joe Walsh, announced details of the legal settlement.
A consortium of insurers and brokers has agreed to pay out €22 million for intervention beef destroyed in the fire at the UMP plant at Ballaghaderreen, Co Roscommon in January, 1992.
The Department of Agriculture had insured against this risk through an Irish-based broker. However, after the fire, the principal insurers repudiated liability and initiated proceedings to establish that they were not liable.
This led to 16 separate High Court actions, involving over 70 insurers and brokers from Ireland and abroad, involving issues relating to areas such as liability and jurisdiction.
Following advice from Solicitors, Counsel and the Attorney General and consideration by Government, Mr Walsh has agreed to settle on the basis of the insurers and brokers paying €22 million.
Minister Walsh said he was pleased a satisfactory outcome had been achieved to the dispute.
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