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Otago Witness, Issue 4032, 23 June 1931, Page 49

Owing to the 10 per cent, cut a judgment creditor was unable to claim a debt from a judgment debtor at the Magistrate’s Court at Wanganui (reports the Chronicle). The debtor, who had paid his creditor £358, had offered to pay 5s a week to liquidate his debt. This offer had been made a week before the cut was to be made, and the creditor had refused to accept anything but the whole sum. The magistrate informed counsel for the creditor that the debtor had now no margin with which to pay the debt, and that as he had refused to accept the 5s a week he had lost his opportunity of receiving the money.