BNZ appoints receivers to farming operation after farm debt mediation breach

(Image: Getty)

Wed, 24 Jan 2024

After breaching an agreement reached under the scheme to stop farming businesses collapsing, a Bay of Plenty dairy farming operation is in the hands of receivers.The relatively new farm debt mediation scheme was originally introduced as a Member's Bill by New Zealand First MP Mark Patterson and was adopted as government policy by Labour’s agriculture minister Damien O’Connor when the two parties were in coalition between 2017 and 2020.Under the legislation, secured creditors must offer mediation before taking any debt enforcemen...

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