In Times of Debt: The Farm Debt Mediation Act 1994 (NSW)

The Australian ‘farm debt’, currently standing at $67 billion, has more than doubled over the past decade according to the Reserve Bank of Australia. Given that approximately 94% of this debt is owed to Australian banks, and in light of the fact that the farming sector’s debt-to-income ratio is currently sitting near a multi-generational high, reliance on the Farm Debt Mediation Act 1994 (NSW) (Act) in litigation proceedings is becoming increasingly prevalent.