Like a gritty Jack Russell terrier that never gives up, failed Reporoa dairy farmer Allan Crafar is back and thinks he may be in with a sniff of getting his farms back.

The Crafar farm receivers, KordaMentha, have announced this week they have reached a truce with the Crafars and will no longer be bringing legal proceedings against them.

Allan Crafar says the receivers have been working with his legal team for some months and the new deal may allow him to refinance.

He says the best case scenario for him is that he takes his farms back over, which he said would be a great result for New Zealand.

“I thought that the country wanted to keep land in New Zealand ownership, so surely we’ll get a lot of support.”

Allan Crafar says his next step, and it may not be an easy one, is to approach the banks for finance.

“I would like to think that would be receptive but I haven’t actually had any dialogue with them on that.

“I have offered to take my debt back in the past and they haven’t responded positively.

“ I’m not scared of the debt the debt isn’t the problem. What we borrowed we didn’t borrow for the hell of it, we borrowed it with an asset backing and bloody skill.”