you are not logged in | login or join us

Weather News

Rural receiverships rise in north

Amy Phillips, Friday June 14, 2013 - 13:25 EST

A lawyer says rural property receiverships are on the rise across northern Australia, thanks to the drought and the live export suspension.

Agribusiness lawyer with Thynne and McCartney, Bill Loughnan, says property owners need to keep in touch with their banks as uncertain market conditions continue.

He says many people are feeling the pinch at the moment.

"Anecdotally I heard the other day that one bank had appointed receivers to 40 properties in the north.

"I think that was a rumour, I don't think that was true.

"Each bank involved in rural Australia will have a small number of receiverships on their books, but people should appreciate that from the banks' point of view, generally the appointment of receivers is a last resort."


- ABC

© ABC 2013

More breaking news

ABC News
Sydney Morning Herald
National Nine News
News Limited

Site search


Enter a postcode or town name for local weather, or text to search the site. » advanced search

Lack of cattle threatens Warwick national campdraft

ABC image 17:18 EST There are concerns that the first ever National Campdrafting Championship, to be held in southern Queensland late next month, could become the latest casualty of the drought.

Help with Weatherzone