Sales of farms?
PA Wellington The Rural Bank is expected to begin initiating farm mortgagee sales later in the year, say Ministry of Agriculture briefing papers made public yesterday. Despite an Improvement in sheep and beef farm Incomes, the position of highly indebted farmers was .unsustainable, said the? papers. ’ \ ' v, f There was a belief in the rural Sector that for the debt restructuring programme?,to succeed, hon-viable farmers had To leave ‘ their land. - Private financiers? were reluctant totakethe firsttstep to begin mortgagee sales., j “Some activity is expected in the late spring ahd the expectation is that the Rural Sank will move first,” the papers said. Further reports, page 2
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Press, 9 October 1987, Page 1
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110Sales of farms? Press, 9 October 1987, Page 1
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