Does a business farming aquarium fish fall under the Farm Debt Mediation Act?
Champion Mortgage Services Pty Limited v Charles Menzies Craigie and Anor [2006] NSWSC 869 (30 August 2006) Charles Craigie and Michael Craigie are father and son. In late 1972, they bought a property to live on and to breed fish for pet shops and aquariums. They had 50 concrete fishponds, 60 fishpond earth-bottom dams and various temperature and humidity controlled sheds for tropical fish. The fish breeding business was run under a company, Wyong Creek Fish Hatchery Pty Limited. In 2003 they took out a mortgage with Champion Mortgage. They fell behind and Champion subsequently sued, seeking possession. In October 2005, the court made a number of orders by consent. In essence, Champion agreed to hold off issuing the writ of possession if the Craigies paid a total of $135,000.00 by the end of March 2006. There were further payments missed, so Champion applied for the writ. However, the Craigies were seeking to refinance and paid $150,000 in February. A stay of execution was granted. In
