MORTGAGORS' RELIEF
FIRST CASE UNDER ACT. A i'I'I.ICATION REFUSED. I P»r Pi ess Association. ] PALMERSTON N.. May J 6. The first application made in the Do minion under the Mortgagor’s Relief Act was beard at the Supreme Court by Mr Justice MacGregor. The plaintiffs v.ere George Albert I'iebig and the firm of I’iebig, Ltd., Feilding. Defendant was Mrs Eveline Haggitt, wife of a Palmerston North bank manager. Plaintiffs sought a motion setting aside the exercise of the power of sale and entry into possession by defendant, also their reinstatement as registered proprietors of the land premises, subi ject to a mortgage ,»f £4500 to the de- | fen da nt. The Judge refused the application, saying that the property was bought by plaintiff* as a speculation, unfortunate ly for them, on a fulling market, and they were not in a position to nicetheir commitments in respect of th--mortgage, as the interest was overdue and defendants hud paid their rates. His Honour commented that as tin* was the first application under a novel ami obscure statute he would not al I
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Bibliographic details
Wanganui Chronicle, Volume 74, Issue 115, 18 May 1931, Page 6
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179MORTGAGORS' RELIEF Wanganui Chronicle, Volume 74, Issue 115, 18 May 1931, Page 6
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