7 January 2021
Guy Barnett, Minister for Primary Industries and Water
A new Tasmanian Farm Debt Mediation scheme will be developed to help farmers in financial stress work with their creditors.
The scheme offers a structured negotiation process where a neutral and independent mediator helps farmers and lenders communicate and come to a formal agreement about the management of farm debts.
The new legislated scheme will provide both farmers and lenders with an efficient, inexpensive and fair pathway for resolving debt problems early, instead of what can be a drawn-out, expensive and stressful court process.
Importantly, the scheme will be designed to address power imbalances that may exist between stressed farm businesses and their creditors.
I…
Read the full article at: http://www.premier.tas.gov.au/site_resources_2015/additional_releases/balancing_the_scales_for_farmers_with_financial_stress