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Legal Matters

Lawsuits filed against banks

SYMEA, a trade union established earlier this year intends to block the repossession of mortgaged properties by taking local banking institutions to court according to its president Andreas Alambritis.

Banks forced to compensate forex borrowers

On Friday the Hungarian parliament passed a law forcing banks to compensate borrowers for “unfair” conditions in mainly forex loans in the years leading up to the financial crisis.

Sweeping powers for taxman

Sweeping new powers for the taxman could further impede the ability of a property buyer to secure the Title Deeds to the property they’ve purchased if the tax debtor fails to settle his tax bill.

Land Registry defies court judgement

The Famagusta Land Registry office may find itself in contempt of court after refusing to implement a court order for Specific Performance instructing it to transfer a property to its rightful owners.

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.

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