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More farm mediation talks

More than 90 farmers have been involved in debt mediation talks with their financiers under a new scheme to get better outcomes for defaults.

December 11, 2012 4:05am

More than 150 Victorian farmers have received extra financial support in the first year of the Victorian Government’s Farm Debt Mediation Scheme.

Agriculture and Food Security Minister Peter Walsh said the government had made it compulsory for banks and other creditors to offer mediation to farmers before beginning debt recovery proceedings on farm mortgages.

‘‘The scheme has proved its value in the first 12 months, and it will continue to be needed as farmers recover from the decade of drought and subsequent flood events,’’ Mr Walsh said.

‘‘Primary producers make a significant contribution to Victoria’s economy. The Coalition is committed to ensuring the necessary support is available to help our farmers through tough times.’’

The $3.5million scheme is administered by the DPI, and during the past year more than 90 farmers have been referred for mediation.

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