QUEENSLAND’s new mandatory farm debt mediation program has seen 33 cases initiated in the first six months of the programs operation.
The cases represent a broad cross section of farming industries and 18 local government areas.
Administered by the Queensland Rural and Industry Development Authority (QRIDA), the program aims to protect the interests of both primary producers and their lenders, by requiring them to undergo a formal, impartial mediation process to resolve disputes before foreclosure can take place.
Agriculture Minister Mark Furner said the mandatory scheme had captured a broader range of lenders with almost a third of the cases involving specialist equipment finance providers.
The previous voluntary scheme captured only 11 si…
Read the full article at: http://www.queenslandcountrylife.com.au/story/5276449/mandatory-farm-debt-mediation-program-up-and-running/
