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Repayment To Debenture Holders In County Fermanagh Under The Charitable Loan Funds Act

Volume 181: debated on Friday 23 August 1907

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To ask the Chief Secretary to the Lord-Lieutenant of Ireland is he aware that, though the proceedings under the Charitable Loan Funds Act of 1906 have caused much distress among the unfortunate borrowers in county Fermanagh, very little progress has beer made in payment of debenture holders; and will he urge upon the Loan Fund Board the importance of prompt payment to the many debenture holders who are in many cases in want owing to non-payment of the debentures. (Answered by Mr. Birrell.) The Loan Fund Board inform me that they are fully alive to the importance of prompt payment to the debenture holders referred to, but the several collections are necessarily proceeding slowly, and many difficulties are being experienced by the receivers. In some cases the magistrates, when giving decrees against borrowers have stipulated that the amount shall be paid by instalments spread over a considerable time. The Board have reason to anticipate that, in many of the cases, the sum which will eventually be available for distribution will be but a small one.