Wednesday, 24 January 2024 10:25

Good scheme

Written by  Milking It

OPINION: Take a bow, Farm Debt Mediation Scheme.

A couple who have been through farm debt mediation say the process was a huge help and relieved a lot of pressure. Facing foreclosure last year, dairy farmers Steve and Carol (names changed to protect their identity) agreed to take part in the scheme.

Their debt loading wasn't actually that high - about 51% debt to equity ratio - but they weren't making profits for about three years. So, in the end they went to bank mediation.

"We were absolutely petrified but our mediator, Tony Wilding, was so good - he completely took the fear away," they say.

Run by the Ministry for Primary Industries, the Farm Debt Mediation Scheme gives struggling farmers the chance to work through debt problems with their bank, using independent mediators.

By law, banks must offer mediation before taking any debt enforcement action against farmers or farm businesses. Also, farmers can ask for mediation at any time.

More like this

Dairy power

OPINION: The good times felt across the dairy sector weren't lost at last week's Beef + Lamb NZ annual meeting.

Another win

OPINION: Feds Southland 'pres' Jason Herrick and colleagues who continue the good fight against bureaucratic madness on behalf of farmers, have had another win - for now, at least - getting a court decision granting a 'stay' on rules in the Southland Water and Land Plan until changes can be made to section 70 of the RMA by central goverment, somtheing they clearly signaled after the election.

Bagrie bags banks

OPINION: Noted economist and self-promoter Cameron Bagrie took one look at KPMG's recently released Financial Institutions Performance Survey on banks and zeroes in one key number that suggests banks are so risk averse in this country that they are probably stifling growth and innovation.

King Island rescue

OPINION: Two Australian cheesemakers have rescued the iconic Tasmanian cheese company King Island Dairy.

Featured

Pāmu farm opens gate to urban visitors

For many urban New Zealanders, stepping into Pāmu’s Pinta dairy farm near Taupo last month was the first time they had had the chance to experience farm life up close.

National

Machinery & Products

Gong for NH dealers

New Holland dealers from around Australia and New Zealand came together last month for the Dealer of the Year Awards,…

A true Kiwi ingenuity

The King Cobra raingun continues to have a huge following in the New Zealand market and is also exported to…

Data crucial to managing water

Watermetrics was formed as a water data collector and currently supplies and services modern technology such as flow meters, soil…

» Latest Print Issues Online

Milking It

Dairy power

OPINION: The good times felt across the dairy sector weren't lost at last week's Beef + Lamb NZ annual meeting.

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter