FEDtalks

Farm Debt Mediation

Episode Summary

Farm Debt Mediation Nick Clark - Manager of General Policy -Federated Farmers Richard McIntyre - Senior Vice-Chair of the Dairy Section of Federated Farmers

Episode Notes

The failure of a farm business can lead to the farmer and their family losing both their business and their home. For many rural communities, the failure of one farm can have a ripple effect through those communities and the regional economy.

Farmers who operate a family business often don’t have the resources to negotiate their own protections when dealing with lenders. That’s where this piece of legislation fits in.

The Bill is pragmatic where either the farmer or the bank has an ability to go and seek mediation.

Almost 12 months ago Agriculture Minister Damien O’Connor announced the new debt mediation scheme that will help farmers in financial distress deal with their lenders.

and today we discuss what it means- and how it works with our panel …….