06 August 2015


The defaulting borrowers, pig farmers, obtained a short stay of eviction despite the fact that consent orders were made in April. The lenders had given the borrowers considerable time to repay (two years) without enforcing their security and the debt now outweighed the value of the property substantially with interest accruing at a significant daily rate. This was done on the basis that the family had a longstanding relationship with the land, the default arose from financial incompetence rather than dishonesty and there was some prospect of a refinance, even though there had been talk of a refinance for many months. The court cautioned:

This is the absolute last stage of a long-running problem that must come to an end.

Click here to read the full judgment.

Bransgroves-3-2013 0017-edits 2Nicola Craven holds a Bachelor of Laws from the University of New England. Nicola was admitted as a solicitor in the New South Wales Supreme Court in May 2006.

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