JUDGEMENT has been handed down in London’s High Court in the jurisdiction case involving British buyers of property in Cyprus vs Alpha Panareti Limited, Andrea Ioannou and Roseberry Overseas Property Limited (ROPUK).
The judgement concluded that Brits who purchased property in Cyprus can have their cases against their developer heard and decided by the UK court in certain circumstances. The case was heard in June this year before the Senior Master, Master Whitaker.
We understand that the QC representing Alpha Panareti intends to appeal the judgement.
It is now expected that the claimants will pursue their cases of negligent misrepresentation and breach of contract against their developer in the UK, subject to any appeal.
EU involvement
The investment scheme to which this judgment relates has been the subject of a number of questions raised in the European Parliament:
Media interest
The local media in the North East of England have shown much interest in events with the Northern Echo recently publishing four reports:
In October 2011, the BBC broadcast a report by Chris Jackson of the Inside Out North East and Cumbria team about the scheme, a 12 minute clip of which can be viewed below.
Who in their right mind will buy a property off plan?
Off plan property buying especially in Cyprus should be banned.
MH that’s brilliant news!
Let’s all look forward to mid December when Alpha will experience a real, fair and balamced Justice system.
Not the Mickey Mouse version that they are used to elsewhere.
Should be interesting.
Master Whitaker did refuse leave to appeal. However, Alpha Panareti’s Barrister said he would still lodge an appeal with the ‘Master of the Rolls’. This was not included on the judgement as it was argued AFTER the judgement had been handed down.
Clutching at straws and any appeal will not get anywhere.
The Alpha Bank are next in the High Court London mid December.
Very pleasing result in this judgement. Good luck to all caught up in this and other cases of sharp practices by the developers.
The way I understand it is that Master Whitaker has already refused the developer permission to appeal his decision and that seems to be the opinion of the British investor’s barrister.
Why would the developers appeal? If they’ve done nothing wrong then it shouldn’t matter where the case is heard. They obviously believe that they can get away with it in the Cypriot courts?? I’m just stating the obvious!!!
Good luck to all those involved. My nightmare is finally over and I wouldn’t wish it on anyone.
Seems Master Whitaker has been fairly comprehensive in his judgement. I cannot see an appeal being successful.
I see two main problems.
Will Cyprus enforce judgements made by the English court? Yes I know they are supposed to!!
Are AP worth pursuing financially? This will not be cheap.