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Stalemate over bad loan guarantors

Amidst alleged claims that Cyprus politicians may be protecting larger businesses, disagreements have arisen between the government and the troika over the treatment of bad loan guarantors.

Bank loans of up to €15,000 will be written off

Bank loans of up to €15,000 will be written off if low income borrowers can demonstrate their inability to service them under the provisions of the insolvency framework being discussed by the House.

Grim outlook for Paradise Hills buyers

The outlook looks bleak for buyers on the unfinished Paradise Hills estate at Marathounda in Paphos as the development company, MDB properties, is in provisional liquidation despite their appeals to the Bank of Cyprus.

The fly in the ointment

Parliament should go ahead and name-and-shame all those who have enjoyed privileged loans from the banks, some of which were for personal use and vast amounts were written off.

One in four construction firms bankrupt

The Registrar of Companies has been reported as saying that one in four construction firms in Cyprus are going bankrupt due to the pressure caused by the island’s financial crisis.

Bank seeks bankruptcy for Paradise Hills developer

A bankruptcy order has been issued against a Brit believed to be a director of MDB Properties Limited, the company that constructed the unfinished Paradise Hills development in Marathounda.

Alpha Bank moves to repossess homes built by Liasides

More than 100 people face losing their homes following applications filed by the Alpha Bank to auction eight plots of land that it mortgaged to bankrupt property developer Yiannis Liasides.

Cyprus estate agent declared bankrupt

The case against Andrew Nolan, formerly of Cyprus estate agents Peter Stephenson Properties, was heard by a judge at a court in Birmingham last Thursday where he was officially declared bankrupt.

Property buyers at risk as second developer collapses

More people face loosing their homes in Cyprus as a second property developer is liquidated. Buyers of A&G built properties without Title Deeds have been left at the mercy of the banks.

Estate agent gets wake-up call from bailiffs

Andrew Nolan, formerly of Cyprus estate agents Peter Stephenson Properties was woken at 6am by a bailiff from Bluemoon Investigations and investigative journalist Andrew Penman.

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