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Cabinet gives the nod to fourth insolvency bill

Yesterday the Cyprus Council Ministers (Cabinet) approved the fourth of five bills comprising the insolvency framework designed to update and amend the personal and corporate bankruptcy laws.

Statute of Limitations Law extension

The transition period for the Statute of Limitations Law that Cyprus introduced in 2012 was extended until 31 December 2014 may be extended by a further 6 months or possibly 12 months.

Foreclosures law to Troika

President Anastasiades is to speak with European leaders and officials in efforts to gain their understanding and support for the foreclosures law that was passed by parliament on Saturday.

The plan

Following a vote in the Cyprus parliament to adopt the Euro, a banker, a government minister, a property developer and a lawyer meet at a restaurant and discuss the plan for the island’s future.

Foreclosure bill bunfight continues

The debate in the Cyprus parliament on the controversial foreclosure bill continues with opposition parties refusing to support the bill in its present form and calling for a series of amendments.

Cyprus Immovable Property Tax 2014

The law amending the Cyprus Immovable Property Tax Laws for 2014 has now been published in the Cyprus Gazette and it offers a 15 per cent discount for those who pay early.

Cyprus MPs lunacy in action

Lunatic decisions taken by MPs in Nicosia drove another nail into Cyprus’ once thriving property sector when they voted though the bill amending the Immovable Property Tax law for 2014.

Troika push repossessions bill

The Troika has indicated that if Cyprus fails to introduce legislation to ease the procedures for property repossessions, it could jeopardise the release of the next tranche of the bailout.

No more escape for tax cheats

Those with tax arrears exceeding €3,000 will be prevented from selling or transferring their property under a new law passed by the Cyprus government to help with the crackdown on tax evasion.

Hourican calls for change in the law

John Hourican has called for a change in the law concerning the collection and recovery of non-performing loans to assist the bank and help it return to normal operations and profitability.

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