DISPUTE OVER MORTGAGE.

New Zealand Herald, Volume LX, Issue 18342, 7 March 1923, Page 7

DISPUTE OVER MORTGAGE.

QUESTION OF DISPOSAL.

INTERIM INJUNCTION GRANTED.

An application for an injunction in regard to a mortgage was heard by Mr. Justice Herdman in the Supreme Court yesterday. The injunction waa sought by R. L. Arnold, farmer, of Dargaville (Mr. McVeagh), to restrain Gilbert N. Hayes, solicitor, of Dargaville, from exercising his power of sale of certain land under a mortgage. Mr. McVeagh said that interest fell due on January 14, and a day or two before that defendant the mortgagee, agreed to extend the time for one month. Before the month had expired he gave notice of his intention to exercise his power of sale. The mortgagor tendered tho interest that was in arrears, but the mortgages contended he was entitled to have his principal paid as well, and declined to accept the interest tendered. His Honor: What steps has the mortgagee taken to sell? Counsel said that at any moment he might sell the land by private contract. The mortgagor was prepared to pay the interest into Court. His Honor: Is there anything in writing? Counsel said it was a verbal promise to extend the time. His Honor, in granting an interim injunction, said the money was to be paid into Court.