The Victorian Small Business Commissioner (VSBC) mediates farm debt disputes under the Farm Debt Mediation Act 2011.
The legislation seeks to resolve farm debt disputes efficiently and equitably by requiring a creditor to provide a farmer with the option to mediate before taking possession of property or other enforcement action under a farm mortgage.
There are two types of mediation available under the Act. The first is creditor-initiated mediation, which results from a creditor issuing a notice under section 8 of the Farm Debt Mediation Act 2011. The second is farmer-initiated mediation, where a farmer takes the initiative to request mediation with their creditor.
Read more about the VSBC’s farm debt mediation role here.