Farm auction stopped
A Rakaia fanner, Mr Lindsay Palmer, had a lastminute reprieve when mortgagees called a halt to the sale of his 156-hectare farm at Mead yesterday. The auctioneer, Mr Colin McLeod, told the half a dozen people assembled for the auction that the mortgagees appreciated Mr Palmer’s difficulties.
In spite of “substantial arrears” . they were prepared to give Mr Palmer more time so that he could benefit from any hardship relief.
Mrs Moana McCoy, of Temuka, agreed yesterday that she was the administrator of the McCoy estate which is leased in perpetuity by Mr Palmer. She would not comment about the postponement of the mortgagee sale.
Mr Palmer said he did not know the details of the postponement and would not know until he received official advice. When asked if the date of the postponement had hinged on the crop harvest, he said he could say nothing until things were tidied up.
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Press, 12 November 1985, Page 3
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154Farm auction stopped Press, 12 November 1985, Page 3
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