Client Scenario

Client Receives Cash Settlement After Natural Disaster and Personal Injury

Client presents with the following scenario:

  • Multi-Generational farming client owned three large agricultural properties in Queensland.
  • A personal injury to a family member in addition to severe natural disasters completely restricted access to the properties as well as effectively terminating all income for over three years.
  • As a result of systemic natural disasters, the value of the properties declined byapproximately 75%, leaving the client with no ability to repay any portion of the monthly bank interest charge of $250,000.
  • Farm Debt Mediation had failed to achieve any satisfactory outcome

Client’s objectives were:

  • Client understood and accepted that it was no longer viable or sustainable to maintain their current business and lifestyle.
  • Client was opposed to a Judgment or Bankruptcy being placed upon them given the dire circumstances outside of their control.
  • Client wanted the ability to re-establish their family on a much smaller property and to continue an agricultural lifestyle on a smaller scale.

DJ Partners achieves results for clients:

Following discussion with the Bank DJ Partners confirmed:

  • Ensured that no Receiver was appointed or judgments were recorded against the client.
  • Secured agreement from the bank that the forced repossession of the properties and eviction of the client would result in no financial or non-financial benefit to any party.
  • Client was able to retain some plant and equipment to the value of $100,000 to ensure they could re-establish their operations on a different scale.
  • A cash-settlement was provided to the client to vacate the land and voluntarily provide possession to the bank.