Stock Co Livestock Financier Investigation
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Stock Co Livestock Financier Investigation
Did StockCo offer you finance to purchase livestock even when banks and second-tier lenders wouldn’t do so?
Did StockCo provide you with a facility for 100% of the purchase price of livestock – livestock that StockCo, not you, the producer, would own – while telling you that you would stand to make all the profit on “fattening” the livestock for sale, less StockCo’s outlays for the purchase price and the finance costs?
As you know, you were responsible for agisting the livestock, paying for feed and veterinary bills. Despite owning the livestock, StockCo would not contribute to these expenses, nor would these expenses be taken into account when estimating your “profit” or “grazing payment”.
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