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Archive for September, 2014

Large bank and Co-op loans probe

Loans given to former board members of the Bank of Cyprus and the now defunct Cyprus Popular Bank and other large loans are being investigated as part of the probe into the near collapse of the economy.

Aristo remand hearing adjourned

The court hearing to remand Theodoros Aristodimou, the founder and managing director of Aristo Developers had to be adjourned following his admittance to hospital with high blood pressure.

Aristo boss arrested

The police have placed Theodoros Aristodemou, the former Chairman of the Bank of Cyprus and founder and managing director of Aristo Developers, under arrest along with three other persons.

Numbnuts at Paphos Land Registry

Despite being put under pressure the Government reduce the backlog of Title Deeds, numbnuts at the Paphos Land Registry are refusing to accept current British passports as identification.

Supreme Court focuses on foreclosures

The Cyprus Supreme Court plenary will meet on Tuesday to examine whether four of the bills passed by MPs regarding foreclosures and repossession are in conflict with the island’s Constitution.

Reckless banks lent millions

A report by the Cyprus Central Bank reveals how the island’s banks lent millions of Euros recklessly without having properly examined the borrowers’ ability to repay or the value of the loan collateral.

Next bailout tranche withheld

Cyprus will not receive the next tranche the €10 billion bailout from the troika of international lenders until it complies with the MoU regarding foreclosures and insolvency legislation.

Building permits up 11% in June

The number of building permits issued in in June increased 11 per cent compared with the corresponding month of last year, but their numbers have fallen 5 per cent during the first half of 2014.

EC rejects foreclosures laws

The foreclosures laws passed by the Cyprus parliament last Saturday are incompatible with the requirements of the Memorandum of Understanding (MoU), according to a European Commission spokesman.

Decision time in Aristo land deal probe

A decision on how to proceed in a case involving allegations that Aristo, in cahoots with persons inside the Paphos municipality, milked extra real estate from dodgy paperwork will be held today.

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