Akfinans Bank's K5 Appeal Not Going Ahead Today


RE: Appeal by Akfinans Bank Limited against judgement given by Judge Usar on the 4th December 2014 in favour of Kulaksiz 5 when the Judge found that the mortgages put on the properties in Karsiyaka owned by British Pensioners known as the K5, were in fact fraudulent.

Hands up anyone who is the slightest bit surprised that the Appeal scheduled to be heard on the 29th January 2016 (today) at the High Court in Lefkosa will not go ahead. I only found out yesterday and indeed would not have known at all had I not asked the advocate. Before asking the advocate I did inbox a member of K5 and told her I would see her in court tomorrow. She replied she would be glad of the support in court…odd…yes… I thought so too. I then asked the advocate if the Appeal was going ahead and had a one word reply…..No. I then messaged to ask why and I think the reply meant that the bank had not been served. Served with what…I have no idea.

You will recall this report in the Cyprus Today of an unsuccessful attempt to have the Appeal thrown out and it did mention 29th January, 2016, so how could the bank not know?


As you will recall, in his judgment the Judge ordered the new Kocans put on our properties be scrapped and the original two in the name of Yuksel Yilmaz the landowner be reinstated.

There seems to be some argument that mine will not be included, but there is no doubt the Judge did NOT single mine out for special treatment. If we do eventually win in the Appeal, I do expect the judgment in its entirety to be acted on. If it is not, I shall be exceedingly angry and not at all silent about it.

Yuksel YIlmaz is the eldest son of a family of Turkish settlers who were given the land in Karisyaka. Yilmaz gave over the land to the builder in return for three properties being built. They were built, could easily have been sufficient security for the loan of 83,000 lira back in 2005. Interestingly, two of the three properties are occupied by members of Yilmaz’s family and one stands empty, right next door to my villa.

The plot thickens. Interestingly, the bank have not yet submitted their papers to my advocate with regard to the Appeal against the judgment in my favour with regard to four of the five Libel cases they lodged against me. It seems my theory that the bank’s strategy is to outlive all of the K5 is not without foundation.

Pauline Read

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