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Non-performing loans (NPLs) initiative

Following comments from the troika on the extremely high levels of non-performing loans (NPLs) the Cyprus government is preparing proposals to improve the insolvency and foreclosure laws.

Government striving for Title Deeds solution

The Cyprus government is trying to expedite a resolution to the Title Deeds-cum-fraud mess in which people were duped into buying property built on land that the developer had earlier mortgaged to the bank.

Another stab at resolving the Title Deeds mess

The Cyprus government to take another stab at resolving Title Deeds mess created by nefarious developers who duped people into buying mortgaged property as the law passed in 2015 failed to fully address the problem.

Why trapped buyers law unconstitutional

Marina Massoura from the law firm of L.G. Zambartas LLC explains why the trapped buyers law was ruled as being unconstitutional by the District Courts in Limassol and Paphos.

Trapped buyers could lose their homes

The Limassol and Paphos District Courts in Cyprus have both ruled that the trapped buyers’ law, which enabled those duped into buying property built on mortgaged land to get their Title Deeds, is unconstitutional.

Bank contracts for buying property

The Cyprus Parliament voted unanimously on Friday to adopt EU legislation on bank contracts for the purchase of property, which will provide consumers with a higher level of protection.

Cyprus urged to implement mortgage directive

The European Commission (EC) has given Cyprus and eight other EU member states two months to implement the regulations of the European Union on mortgages if they want to avoid going to the European Court of Justice.

Title Deed applications exceed 8,000

More than 8,000 trapped buyers of property in Cyprus have applied for their Title Deeds under the provisions of the ‘hidden mortgage’/’trapped buyers’ law that was introduced last September according to the Cypriot Interior Ministry.

Limitations law amendment (updated)

Amendments to the Statute of Limitations Law have been published in the Cyprus Gazette and will be welcomed by anyone wishing to issue legal proceedings against another party.

Hourican disappointed by shenanigans

John Hourican, the outgoing CEO of the Bank of Cyprus said he was disappointed by the ‘shenanigans’ of lawmakers that delayed and diluted laws aimed at helping banks collect on a huge number of non-performing loans.

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