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Nigel Howarth meets the Troika

I spent nearly four hours with nine delegates from the troika last Sunday evening discussing the many problems faced by those who have bought property in Cyprus and their possible solutions.

Shepherd jailed for building hut

Why can a shepherd be jailed for building a hut when a wealthy businessman can add an extra floor to his house or a developer build without having first secured the necessary permits without being sent to prison?

Famagusta developer jailed for two years

Cypriot property developer Kyprios Kyprianou, who was found guilty of fraud after selling the same property twice, has been jailed for two years by the presiding judge at the Famagusta District Court.

Famagusta Developers found guilty in fraud case

Kypros Kyprianou and his company Famagusta Developers have been found guilty of double selling a property located near the Paralimni lake following an eight months court case.

Courts can amend foreign currency loans

Advocate General Niels Wahl of the EU Court of Justice has advised that national courts can force banks to replace unfair contract terms for customers holding foreign-currency loans.

Cyprus Title Deeds bank extortion (updated)

Update – 13 February. Receivers acting for the Alpha Bank are threatening to sell the homes of people who purchased property from defunct developer unless those people pay off the developer’s defaulted mortgages, their taxes and other creditors.

EU-wide mortgage credit rules adopted

The EU has adopted a new directive aimed at creating a single market for mortgage credits in the EU, with a high degree of consumer protection that will come into force in all Member States in two years.

European Court action gathers pace

Those wishing to join the action group announced month that is seeking compensation at the European Court of Justice for the mis-selling of Swiss Franc loans have until the 8th February 2014 to sign up.

Unpaid Immovable Property Tax from 32 developers

Politis, the Greek language newspaper, has listed the names of thirty two property developers who failed to pay their Immovable Property Tax to the Inland Revenue by the due date of 15th November.

Co-ordinated action at European Court of Justice

Action focussing on the systemic failings of banks in their mis-selling of Swiss Franc loans is being taken at the European Court of Justice to pursue a claim for damages against the responsible European authorities.

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