Kulaksiz v Akfinans Bank | Mortgage Law 11/78 Tested Tomorrow


Tomorrow is the day of the start of the main case for Kulaksiz 5 litigants You could say, it is make or break time for the Kulaksiz 5. It is imperative that the K5 are able to demonstrate clearly that the mortgage taken by the landowner Yuksel Yilmaz and Abdurrahman Guney and given by the Bank was illegal.

Kulaksiz 5 are, as everyone already knows, only the tip of the iceberg and if they fail it will not augur well for all those in the mortgage queue. The Olive Grove, victims, the Boyut victims and so many more.

I personally find it incredible that these cases have gotten so far without at least one Advocate discovering Mortgage Law 11/78 section 21 and it does beg the question: WHY NOT?

Too easy to say, ‘ah well it has only just been discovered’…Why?… It has been on the Statute Books since 1978.

Whatever the reason, let us hope that now it will be used and show once and for all, the mortgages have always been illegal.

Here is a reminder of other victims of the property scams.

Naming and Shaming of Blackmailing Builders in North Cyprus

Friday, August 12, 2011

“How interesting to read that the Government is proposing to do away with the requirement for a foreigner to have to obtain Permission to Purchase. This of course is an effort to stimulate the property market. You may as well dig up a corpse and call in the ‘crash’ team to apply electric shocks to it, as we all see them do on ER. Sorry Ministers, the property market has been dead for too long, too little, too late. The Frankenstein monster will return to haunt this Government, again and again and it will not need electrical stimulation.

Why, oh why do they really believe that anyone is going to buy into this knee jerk reaction especially when allegedly the Baro Council label it as unconstitutional. One thing this Government has been consistent in and it is not to their credit; their continuing to ignore all those existing victims of the flawed property market. Their policy in this seems to be, if we keep quiet the problem will sort itself because all of the victims will die of old age. Unfortunately, and as usual, they have miscalculated. Some of the victims are young Turkish and Turkish Cypriot families who will indeed outlive this Government. Hopefully these are the people who will make this Government pay for their arrogance at the ballot box.

When we look at the size and the extent of the property fraud it beggars belief that any Government would dare ignore it.

Aga Development Limited – A saga that runs and runs. A saga this and the previous Government could have got to grips with but chose not to. Now look at the embarrassment the Gary Robb trial is going to heap on this country.

Armacon – Another family run business who thinks it can run rings around the law and the buyer. Who allegedly resorted to beating up one of its purchasers because he had the audacity to refuse make a final payment on an incomplete property.

Boyut – Whose owner rubbed the noses of his victims in ‘it’ by having massive publicity for his lavish wedding to his long-time British girlfriend. His sites allegedly are subject to mortgages, bad building work or incomplete builds. I know of some of his victims who have had to return to the UK having no hope of ever taking delivery of their property on which only the final payment is outstanding.

Tutuska – Who can forget Tutuska who had an unsuccessful Auction on the 13th June 2010, promised on 15th June 2010 to pay the mortgage and like most promises made here in the TRNC, immediately broke that promise and the charge still remains on the properties, a block of apartments known as Baris Apartments.

Santa Fe – Said by the HBPG to be sorting out all the mortgages. How can rescheduling a mortgage that stood at allegedly £1,000,000 become allegedly £4,000,000 having been rescheduled over a longer period, be easier to make payments on? Surely if the payments were not being met on the smaller debt, where will the money come from to pay the larger debt and still find the money to finish the builds? Not accusing, just posing the obvious question.

Victorian Homes – Did a runner leaving chaos in his wake.

Recaioglu – Possibly this builder is infamous for dragging an innocent man, Geoff Day, through the courts, accusing him of theft, having him thrown into prison for three days, causing his passport to be confiscated for 2 years and 3 months, causing him to have to attend court on 65 (sixty five) occasions and all because Geoff refused to make a final payment on an unfinished property. It is alleged that the builder offered to drop the charges in return for money which Geoff refused to pay, but still the case was allowed to continue. Geoff Day was eventually cleared of all charges. However this is also the case in which Pauline Read was pseudo arrested for her style of reporting, had four police officers attend her home, confiscated her lap top and told her she was to be prosecuted. This was on the 14th October 2010. She was initially told she would have her lap top returned within two weeks. Despite two written requests for its return, the prosecution service will not return it and as far as she is aware it is still being held at Girne Police Station. She was given a receipt. She was not shown an arrest warrant. She was not shown a search or seizure warrant.”

It is sad that this catalogue of catastrophes’ are bringing shame to the beautiful island of Cyprus and let us not lose sight of the fact that it is happening on an even grander scale on the other side of the border. God grant those who have the power to make a change, the wisdom and courage to do so.”

Power to the people

Citizen Smith

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