MORTGAGE LAW
REMISSIONS OF INTEREST. AN IMPORTANT JUDGMENT. (Per United Press Association.) Wellington, July 17. A judgment of far-reaching importance arising out of an application on behalf of a mortgagee that certain remissions of interest provided for in an order under the Mortgagors and Tenants Relief Act 1933 should be reviewed because wool and stock prices had improved and had presumably made it easier for the mortgagor to meet his obligations, has been delivered by Mr Justice Blair. “In my view,” said his Honour, “the fact that wool and meat prices have improved since the order for remissions of interest was made is not alone sufficient ground to justify this Court rescinding the order already made.” His Honour added that owing to the importance of the matter as affecting the practice of the Court when administering Section 1, he had conferred with five of his brother Judges who all concurred in the view he had expressed.
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Bibliographic details
Southland Times, Issue 22378, 18 July 1934, Page 8
Word Count
156MORTGAGE LAW Southland Times, Issue 22378, 18 July 1934, Page 8
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