- Cyprus Property News Magazine - http://www.news.cyprus-property-buyers.com -

Meeting of Y Liasides Developers Ltd purchasers

PLEASE be advised that the Paphos District Court has appointed Mr Chris Iacovides of CRI Group has the liquidator for Y Liasides Developers Ltd.

Purchasers are advised that Mr Iacovides is convening a meeting of purchasers/ investors of Y Liasides Developers Ltd properties, to discuss his strategy as to how he proposes to deal with the liquidation.

The meeting will be taking place on 28th June 2013 at 10:00am at the Amathus Beach Hotel Paphos and is being convened for the purposes of:

  1. Explaining the role of the Liquidator and providing an opportunity for purchasers/ investors to put their questions and/or concerns to Mr Iacovides and his team.
  2. To discuss the Liquidator’s remuneration, which has been agreed to be on the same basis to that charged by the Official Receiver, when acting as liquidator. A copy of the relevant legislation governing fees in included in the first enclose below. The section relevant to purchasers/investors is highlighted; your attention is drawn to the Official Receiver’s entitlement to charge 11% fees in connection with assets realised or brought to credit.
  3. Establishing committees for each development, which will assist Mr Iacovides when dealing with matters involving title deeds and/or resolving issues in connection with each development.

If purchasers are unable to attend, they are welcome to have a representative attend the meeting on their behalf.

Enclosures

Letter to all known Y Liasides Developers Ltd purchasers

Court Order ratifying appointment of Mr Chris Iacovides as liquidator of Y Liasides Developers Ltd

Published on behalf of CRI Group Ltd