North Cyprus Property News | ‘Buy at Your Peril’


North Cyprus Judge believes DELETED BANK will compensate K5 victims
Saturday, August 27, 2011 by Peter Wright

Let us look at what really happened to Kulaksiz 5 in court yesterday. Judge Usar had been handed a ‘hot potato’ of a case by the High Court. The High Court had received the case through an Appeal against the first verdict given by Judge Beril. So it is in fact the third hearing of the same case.

As a result of the first hearing, the Judge ruled against the Interim Injunction and if my memory serves me well, the Judge in that case made a very similar remark to the remark by Judge Usar on page 5 of Cyprus Today “He said he believed there would be no ‘irreversible harm’ to the defendants if they were evicted as the bank could compensate the Kulaksiz 5 buyers – if they were to win the main case”

The Appeal Court decided they could do one of three things:

1. Uphold the decision of Judge Beril

2. Rule in favour of the Injunction.

3. Overrule the decision of the lower court and send it back to be reheard.

They decided on option 3 which is how K5 arrived in Judge Usar’s court yesterday to hear his crushing verdict.

Boysan Boyra has said he will launch another Appeal and also requested an emergency injunction to stop Deleted Bank doing anything from now until the end of the Appeal Hearing.

Let us look at the remarks of these learned people. When making such trite remarks, are they aware that most of the resident Kulaksiz 5 have no spare cash. If evicted, where would they live? Are they aware that the ages range from 63 to 89; can they honestly claim that if their 89 year grandparent were hounded and intimidated by the Bank family, they would suffer no irreversible damage? Do they not realise medical studies have proved that a constant state of stress impairs the immune system, combine this with the frailty of age, are they really telling us they believe these pensioners will just bounce back after such treatment. I am telling you, they won’t. The prospect of premature death is very real.

Has the Judge stopped to think that all K5 really want is to keep their homes and live the rest of their days in peace? It seems that what Kulaksiz 5 wants is of little or no importance when balanced against what Deleted Bank Limited want. We all know that what Deleted Bank want, they take regardless. I was going to say regardless of the consequences, but we all know, for them, there are no consequences.”

This is an account of the case that K5 lost on the 26th August 2011, they did an emergency appeal which was refused by the same Judge. They lodged an Appeal against the decision at the High Court which was heard 13 months later, yes one year and one month later. As a result of this Appeal an Injunction was given but not as was asked for.

The main case as you know is in the course of being listened to at this time.

Nothing has changed for the Kulaksiz 5 residents. Their badly built homes are decaying daily, another winter in them cannot be good for the elderly, as indeed they all are. All their money is being ‘sucked’ into the bottomless pit that is the cost of trying (without any guarantees) to obtain justice. If they did indeed have any surplus cash, what incentive have they to repair their homes that are badly in need of urgent repairs.

Now we find that one of the main characters in this horror story, Abdurrahman Guney, the joint borrower from the Bank, the man in my opinion guilty of criminal fraud, is not only back in north Cyprus but also back in the building trade, how can that be allowed? Why isn’t he under arrest and facing criminal charges?

In this culture of no blame so no consequences, why would any foreigner risk their money? It would seem that only the innocent pay the price and often that price is premature death.

Buy at your peril. We were told that ‘we bought cheap’ by a Minister when he was trying to justify the 3% discount from the transfer fee being taken from foreign first purchases. Thankfully, now restored. Cheap, Mr Minister, having someone take what you have paid for from you by force leaving you with nothing is not cheap, paying the ultimate price… premature death is not cheap. The only thing cheap are comments like the one uttered by a Minister. Shame on all who sit by and watch this happen.

Power to the people

Citizen Smith

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