MORTGAGE ON BANK SHARES
NO RELIEF UNDER RECENT ACTS.
FULL COURT’S ANNOUNCEMENT.
By Telegraph—Press Association. Wellington, July 10.
Delivering a reserved decision to-day in connection withm a mortgagor’s relief application heard by it on June 21 the Full Court held that the Mortgagors’ Relief Act, 1931, did not extend to cover and affect by its terms a mortgage of bank shares. Mr. Justice Blair said that upon mature consideration and after reading the judgments of other members of the Court he was satisfied that his previous oral judgment in the case of Shashona v. Young was wrong. In that case he hdd held a mortgage of shares was covered by the Act.
" Application was filed in the Supreme Court, Wellington, under the Mortgagors’ Relief Act, 1931, and the Mortgagors’ and Tenants’ Relief Act, 1932, on behalf of a mortgagor for relief with respect to a mortgage executed in July, 1930, over three parcels of bank shares, securing the repayment of £3OOO and interest. The question whether the Act was extended to cover such mortgage presenting some difficulty, the matter was heard by the Full Court.
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Bibliographic details
Taranaki Daily News, 11 July 1933, Page 7
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185MORTGAGE ON BANK SHARES Taranaki Daily News, 11 July 1933, Page 7
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