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ARTICLE · 24 DECEMBER 2013

Banking on options - tips to avoid foreclosure

Thynne & Macartney
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As their relationship with their bank deteriorates, clients often ask us what options are available to them to avoid foreclosure.

AustraliaInsolvency/Bankruptcy/Re-Structuring
Ari McCamley
Ari McCamley
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The crippling of the live export trade, the prevailing drought, the resulting reduction in cash flows and correction in rural property values across northern Australia in recent years has led to a significant reduction in equity in many operations. Any number of Thynne & Macartney's clients have received approaches from their financiers to revise budgets and engineer debt reduction strategies to address these issues.

As their relationship with their bank deteriorates, clients often ask us what options are available to them to avoid foreclosure.

Queensland Farm Finance Strategy

Most banks which service the Agricultural industry take part in this voluntary scheme which is available to borrowers with debts between $50,000 and $10,000,000.

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