AMOUNTS REDUCED
ADJUSTMENT OF MORTGAGES. WORK OF THE COMMISSIONS. (Per Press Association.) WELLINGTON, January 25. Figures showing the amount of business transacted to date under the Mortgagors and Lessees Rehabilitation Act were released this evening by the Minister for Justice (the Hon. H. G. 11. Mason). These show that the number of applications for relief filed up to the end ‘of December in respect of farm debts total 15,589, and that applications relating to other than farm debts total 18,884. The amount written off farm mortgages totals £1,107,115, and the sum written off in the case of other than farm properties totals £338,624.
Other statistics relating to the work of the Court of Review and all Mortgage Adjustment Commissions are as follow:
Total number of applications withdrawn : Farm, 1918; other than farm f 3308.
Total number of voluntary adjustments approved by commissions: Farm, 368; other than farm, 725. Total number of adjustment orders made by commissions after hearing. Farm, i 825; other than farm, 3584. Number of orders in which the principal sums payable under mortgage oi mortgages have been reduced : lai m, 1048; other than farm, 1558. Number of orders in which arreais of interest on a mortgage have been remitted:- Farm, 944; other than farm, 1041. Total amount of arrears so remitted: Farm, £317,080; other than farm, £83,381. Number of first mortgages the terms of which have been extended: Farm, 1386; other than farm, 3170. Number of second or subsequent mortgages the terms of which have been extended: Farm, 726; other than farm, 1140. Number of mortgages m respect of which the rate of interest has been reduced: Farm, 1859; other than farm, 3870. Number of orders in which the rate of rent payable under a lease lias been reduced; harm, than farm, 71. ' Number of orders in * which arreais of rent under leases were reduced or remitted: Farm, 296; other than farm, 39. Total amount of arrears so remitted: Farm, £43,022; other than farm, £3919. . .. , , Number of orders in which the whole or part of tlie debts due to unsecuied creditors have been written off: Farm, 600; other than farm, 166. Total amount so written off: I'arm, £162,240; other than farm, £2821.
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Bibliographic details
Ashburton Guardian, Volume 58, Issue 90, 26 January 1938, Page 3
Word Count
365AMOUNTS REDUCED Ashburton Guardian, Volume 58, Issue 90, 26 January 1938, Page 3
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