Farm Debt Mediation in NSW — A few problems
by ALEX ELLIOTT on 05/05/2012 · LEAVE A COMMENT · in MEDIATION

The object of the NSW Farm Debt Mediation Act 1994 is to provide for the efficient and equitable resolution of farm debt disputes. Mediation is required before a bank or financial institution can take possession of the farm or other farm property.

Section 10 of the Act provides that once a farmer gives notification that mediation is required, the bank or financial institution cannot take any enforcement action unless a certificate is in force under section 11.

Section 11 of the Act stipulates that a certificate will be issued by the Authority (NSW Rural Assistance Authority), if the Authority is satisfied that a satisfactory mediation has taken place in respect of the farm debt involved.

Mediation is a structured process in which the mediator, who must be a neutral and independent person, assists the farmer and the bank or financial institution to reach an agreement. That agreement may mean the capitalisation of interest, the extension of repayments, additional advances or increasing an overdraft limit. It may also mean the sale of certain assets over time. There are many possible settlement outcomes available to the parties.

The High Court of Australia in its decision in Waller v Hargraves Secured Investments Limited [2012] HCA 4 has added a substantial complication to the mediation process and any possible settlement.

In August 2003, Hargraves Secured Investment Limited advanced $450,000 to Ms Waller under a loan agreement. The advance was secured by a mortgage over Ms Waller’s farm. She defaulted on the loan.

Mediation was held under the provisions of the Farm Debt Mediation Act 1994. The parties entered into terms of settlement under which there was a second loan agreement for $640,000. This enabled the first loan to be paid out, along with past and future interest.

Ms Waller defaulted on the second loan.

Hargraves Secured Investment Limited commenced action in court for possession of the farm and judgment against Ms Waller.

Ms Waller appealed to the High Court from a decision of the NSW Court Appeal. The argument which was accepted by the High Court was that the enforcement proceedings were not in relation to the farm debt the subject of the mediation. There was now a new and different debt, which was distinct from the first loan. Hargraves Secured Investment Limited had not complied with the Act because the mediation only dealt with the first loan, not the new one.

So it seems that even if a section 11 certificate has been obtained in respect of a farm mortgage, a bank or financial institution must be careful that the farm debt it relates to is the same and has not been discharged in anyway prior to enforcement action. If in doubt it seems that a new notice to the farmer may have to be given.

The High Court’s decision may discourage future lending to farmers because of the uncertainty surrounding this decision. The bank or financial institution may play it safe and only offer in mediation the option of refinancing with another institution, selling the asset or agreeing to surrender the asset to the bank or financial institution. Anything else may complicate future enforcement proceedings.

This is clearly not in the interests of the rural community and the Act needs to be amended as a matter of urgency. A full range of options should be available to comply with the spirit of the legislation.

Alex Elliott

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How to meditate? Money Meditation
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Here’s what do if you’ve been sued by Midland Funding LLC for credit card debt. If you have been served with a credit card debt lawsuit from Midland Funding LLC then you need to learn more about how to fight back against this giant debt buyer company. In fact, Midland is a subsidiary of Encore Capital Group based in San Diego, CA, which has been accused of unfair debt collection practices in the past by the Consumer Financial Protection Bureau (CFPB). If Midland Funding LLC is suing you, you need to do your research and fight back now.

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Zena Zumeta discusses how to frame questions in mediation. This was the March 1, 2017, monthly brown bag lunch of the DRC in Ann Arbor, Michigan.
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www.theDisputeResolutionCenter.org

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Marcus Aurelius ruled the Roman empire from AD 161-180. He wrote the 12 books of the Meditations in as a source for his own guidance and self-improvement. It is possible that large portions of the work were written at Sirmium, where he spent much time planning military campaigns from 170 to 180. Some of it was written while he was positioned at Aquincum on campaign in Pannonia, because internal notes tell us that the first book was written when he was campaigning against the Quadi on the river Granova and the second book was written at Carnuntum.

It is unlikely that Marcus Aurelius ever intended the writings to be published and the work has no official title, so “Meditations” is one of several titles commonly assigned to the collection. These writings take the form of quotations varying in length from one sentence to long paragraphs.

George Long translation I used: https://en.wikisource.org/wiki/The_Thoughts_of_the_Emperor_Marcus_Aurelius_Antoninus/Book_I

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NDMA CEO Magauta Mphahlele explains the debt collection process and the importance of knowing consumer and credit provider rights

Lots of consumers are tricked by debt collectors into paying debt that has been prescribed. Here is what you can do if you find yourself in this situation. Read full story: http://www.fin24.com/Debt/Multimedia/Are-you-being-harassed-for-old-debt-20140609

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Portfolio Recovery Associates is one of the biggest junk debt buyers in the United States. You may be wondering “why are they suing me?”.

When it comes to winning debt collection lawsuits brought by junk debt buyers like Portfolio Recovery Associates it doesn’t always have to be an epic court battle that wins the day.

In this video I go over three strategies that could win you your case before it ever gets to trial.

We had our first Zoom mediation the other day, and we wanted to share our experience with anyone who may be considering these types of meetings in their case.

Overall, mediation over Zoom went well.

We’re still in the early days of this, so there are some things that we would do differently/better in the future.

We recommend that you use Zoom on your computer, and that you have a back up device for Zoom whether it’s a phone, iPad, tablet, etc.

This is looking like the “new normal” for cases whether we like it or not, but there are some great pros that make this transition easier. Can share documents. Much better than a phone mediation (those often occur in appealed cases).

Thanks for watching!

John G. Watts
Watts & Herring, LLC
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