Why have so many K5 Advocates not mentioned TRNC Mortgage Law 11/78?


The future for the Kulaksiz 5 is still as uncertain as ever, but when you look at Mortgage Law 11/78 section 21 you really do have to wonder why they have had to endure all that they have. If this law had been applied to their cases from day one, none of what has happened in the last three and a half years would have happened. Three and half years of trauma, stress and expense. Instead of wondering what tomorrow will bring, they would, as planned, be getting on with their lives as happy contented ex-pat pensioners. Indeed, as they had planned and as it should have been.

Pauline Read would have transferred her property into her name in June 2008 as per her Contract and her written request to the builder to meet her at the Tapu for this purpose. She would have paid for whatever needed doing on her villa with the money she has had to shell out to try to get justice. She would not now be living elsewhere wondering what her future holds, receiving Writs from a Bank who would have no reason to be persecuting her, not that they do now in my opinion. The rest of K5 would have done exactly the same. I venture to say that the money needed to bring their villas up to specification might well have been less than they have spent on trying to obtain Justice in a legal system that appears not to care about the rights of the individual.

The toll on the health and wealth of people like Kulaksiz 5 is incalculable. They are not alone, allegedly 1400 purchasers plus are in the queue behind them. The queue looking for justice in the mortgage scams. Add to that the thousands more who have been scammed in other ways by the Property Industry and you can see why no one has any confidence in buying in North Cyprus, no matter what platitudes cross the lips of the Finance Minister.

If you cannot trust the Government to protect the house purchases of those who are after all investors in this country, how then can any investor trust this Government to protect their interests whether they be small investors willing to invest in the future of North Cyprus or huge Corporations. If the small investor, the property purchasers, are not safe then why would larger investors put their money at risk?

Along the way so many have missed the relevance of Mortgage Law 11/78 section 21,

  • Naomi Mehmet
  • Gunesh Mentes
  • Fazilet Ozdenefe (wife of Akan Kursat Advocate for the Bank)
  • Oguzhan Hasipoglu (allegedly a relative of the bank family)
  • Akil Munur
  • Mert Guclu ( given to the K5 as a free of charge advocate by Asil Nadir, but also a Director/Secretary of Aga Developement where Akan Kursat was a shareholder)
  • The 5 Wiseman Committee
  • The Three Man Committee

The above are the Advocates who acted for Kulaksiz 5 purchasers and others who were supposedly going to help Kulaksiz 5. How did this happen or perhaps more pertinent, why did this happen?

MORTGAGE LAW 11/78 section 21 has been on the statute book since 1978. Why is it only now being brought into the case, three and half years into the misery suffered by Kulaksiz 5?

So many questions, NO answers.

Power to the people

Citizen Smith

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