K5 v Akfinans Bank | Tortured by Fear and Uncertainty

K5 v Akfinans Bank | Tortured by Fear and UncertaintyWITHOUT PREJUDICE

K5 v Akfinans Bank – Tortured by Fear and Uncertainty

Today starts the 7th day of the Main Case for Kulaksiz 5 -v- Akfinans Bank Limited. Do not forget that it has taken 4 years, acres of stress and a lot of the innocent K5’s money to get to this point.

Kulaksiz 5, in my opinion, should not have to be going through this ordeal. In my opinion they bought their villas in good faith, had a legally binding Contract of Sale, paid over their money…job done.

They did their part. which as a purchaser is to pay the money in compliance with the Contract. In fact all purchasers have very little to do other than ‘pay up on time’ and let their Advocates take care of the rest of the transaction. If only we all had had competent Advocates, there would be no problems.

That others did not do their job properly is patently obvious, but it should not involve the innocent.

The bank loaned money to two unscrupulous people who already had a poor payment record with them and they should pay the penalty of such imprudent lending practices. The bank did a survey on the property and still allowed the Tapu to register a security that was no longer available as land and did nothing to address this mistake. They had a survey in their possession that made them aware of the buildings on the land, so they knew from day one that it was not just land.

Four years, yes four long years, have elapsed since the auction no one thought would be allowed. Four years of misery, intimidation and unrelenting stress.

I am aware that so many others are in the same situation as the Kulaksiz 5, 1400 plus we are told and all are, or will be, suffering the same stress. Fear of the unknown is probably the worst fear of all. It is a form of torture and as we all know TORTURE is a violation of our Human Rights.

Doing nothing is an abomination and one that successive Governments in Cyprus excel at.

Never give in never give up.

Pauline Read

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