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Kulaksiz 5 v Akfinans Bank | Judge Decides to Study Land Provenance

WITHOUT PREJUDICE

The Judge decided that the provenance of the K5 land plus the appropriate Kocan numbers is needed. Therefore the hearing is adjourned until Wednesday 3rd October 2012 at Lefkosa High Court. It appears that the judge has at last been told that there is a need to look at the status of the land used as security for the mortgage granted by Akfinans Bank.

[Editor: for readers having difficulty following this case, K5’s defence against Akfinans Bank taking their properties is that the mortgage granted by Akfinans Bank could only use land as security that had not already been contracted for sale. They assert that at the time of the mortgage this did not included the properties they are now living in. This is the main point in TRNC Mortgage Law 11/78 that applies to their case. Up until now this point of law appears not to have been used in their defence.]

Most of the residents of Kulaksiz 5 turned out today for this hearing and support from all those interested will be welcomed on Wednesday.

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