RELIEF OF MORTGAGORS
AN; APPLICATION GRANTED. . ’ ':; Auckland, June 1. The first application in Auckland under the Mortgagors Relief Act came before the magistrate (Mr E. C. Cutten) today. The applicant sought cancellation for one year of payments for the reduction of principal on a bill of sale, collateral with a second mortgage. He said he '.was unable to obtain payment from his debtors, and although he could pay the interest on the first mortgage and also on the bill of sale "lie was unable to reduce the principal. The magistrate said the case was a clear one to be granted if the bill of sale was in a safe position. The security was still there, and the application will be granted subject to payment of interest.
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Otago Witness, Issue 4030, 9 June 1931, Page 5
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126RELIEF OF MORTGAGORS Otago Witness, Issue 4030, 9 June 1931, Page 5
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