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Pauline Read’s bank mortgaging case thrown out of court

Following the good result on my Breach of Contract Action I was really pleased to receive the  High Court Appeal date of Monday 18th January 2010. Unfortunately, it seems that my good result in the District Court is the reason for my failure to even have my day in court at the High Court.

Before any proceedings had started the lawyer for Akfinans Bank Limited informed the Judge that I had obtained  judgement against Kulaksiz Construction Limited in Kyrenia District Court and because of this, the Appeal should not be heard.  The judge agreed and informed my Advocate that he he did not think it was right to seek two remedies in relation to the same set of facts and that as we had already obtained judgement against Kulaksiz Construction Limited, the case should not continue.  The judge further stated that even if we were successful in cancelling the previous judgement given in favour of Akfinans Bank Limited, this would only result in us being allowed to be part of the proceedings which would have to be re-initiated by Akfinans Bank Limited and that the outcome would still be the same because by law, the mortgage has priority over other interests in the property. Therefore the case was not allowed to proceed. The case was not withdrawn by me or my Advocate  in effect it was thrown out.

You might well ask why the High Court accepted my Appeal,  now we know that it was a complete waste of time. I suspect it was hoped that I would just go away.

It seems that it is perfectly acceptable in the TRNC for a Landowner, in this case Mr. Yuksel Yilmaz, to sell his land to you and then take a mortgage on the land he has already sold and never attempt to make a payment knowing that the worst thing that will happen is the Bank will repossess the land you thought you had purchased. There are no consequences for him.

The builders, namely Kulaksiz Construction Limited can collude with the Landowner in obtaining this mortgage but the consequences for them are that I did win my Breach of Contract and am quite determined that if they do not pay my legal award by May 6th 2010 then I will immediately file for an enforcement order to sell the 3 villas  and the plot of land covered initially by injunctions and now a court memorandum.

Akfinans Bank Limited can now go after my neighbours unimpeded and unless they come up with money to buy off the debt…  well I am sure we all can guess what will happen.  What happened to Codes of Conduct and sound Banking Practices ????

Interestingly the word KULAKSIZ means EARLESS which would explain why he never appeared to listen!!!!

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