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Abstract: Farming is an essential economic activity at the base of the supply chain that fulfils the basic human need for food. At the same time, farming is exposed to specific economic, atmospheric, and biological risks that may and do cause financial distress for this pivotal sector. The relevance and peculiarity of financial distress in the farming sector have been recognised in other countries, such as the United States and Australia, which have designed specific procedures to address agricultural debt. Instead, in England, farmers do not benefit from special treatment under the Insolvency Act 1986, which applies uniformly across all economic sectors. Likewise, the topic has received little attention in the national academic discourse. Drawing on interviews with farmers’ consultants and banks, this pioneering study examines the interplay between agricultural debt and insolvency law in England by analysing the use of insolvency law in the agricultural sector. First, the article discusses the challenges farmers face in accessing and operating within the current English insolvency regime, highlighting the sector’s needs. Secondly, based on a comparative study with other legal systems, such as the United States and Australia, this article suggests reform routes to the current English approach to farmers’ financial distress.
Keywords: agriculture; economic sustainability; farmers; financial distress; insolvency; insolvency law; restructuring
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