Cyprus Today | Koop Bank Olive Grove Deal - 13/5/2017

cyprus-todayWithout Prejudice

It seems things have moved on a little in this ongoing saga and Mr Serdar Denktas is alleged to have brokered a deal with the state owned Koop Bank.

The words rejoicing is being used and I just hope it is not premature as the bank will not be revealing the deal until the next hearing for their proposed auction of the homes at Olive Grove. This is the latest report in Cyprus Today…today. If the deal brokered involves the owners paying the bank even another penny, then in my opinion, it is not much of a deal…more of a stitch up.

How well I remember Akfinans Bank wanting the owners at Kulaksiz 5 to pay a further £55,000 each for the privilege of keeping their already bought and paid for homes. To add insult to injury, they even suggested making mortgages available to the owners on a 20 year term…imagine that, a mortgage which finishes when you are over 100 in one owner’s case. The interest rate was never discussed but when you consider the 250% applied to the mortgage that caused all the trouble, and that being changed by the judge who granted the bank permission to auction our homes, to 80% per quarter compound, I cannot even begin to imagine what it might have been.

I guess we will know soon enough what Koop Bank have in mind.

Call me a cynic, but I cannot imagine any deal that will not involve the purchasers being expected to pay something to this bank.

Pauline Read

Print Friendly, PDF & Email

9 comments to Cyprus Today | Koop Bank Olive Grove Deal – 13/5/2017

  • fluter

    You Pauline? A Cynic? Never!

    I have to agree, what other type of “deal” can there be?

    There should be no deals. The owners should be allowed to keep their homes.

  • Polly Marples

    From Cyprus Today

  • Polly Marples


  • Dominic Freeman

    I see nothing new in this, apart from that the auction was stopped because later it will probably be found to have been illegal. All that happens now is that the property victims will have to pay the bank’s debt in order to get their title deeds and be able to sell the property and never return to North Cyprus again. Alternatively they wait until the Grim Reaper arrives for them.

  • Cyprus Sue

    There is nothing new in this solution. Is it not what Marion of the Home Buyers Property Group did on many occasions? At the end of the day it always meant that the property victims spent even more money than agreed within their contracts and the fraud continues and more victims are made.

  • Polly Marples


    Of course being Turkish Cypriot the bank personnel and builders were all born with the gene that prevents them from ever being wrong. So never expect that any of them will admit that they WERE wrong and NEVER EVER expect them to do the right thing because they also lack honour, so can feel no shame. That the bank is state owned just further proves the depth of depravity of these people and their Government.

    The bank knowingly entered into a fraudulent mortgage agreement with the builder NCP having seen the Contracts of Sale so being fully aware of the existence of the purchasers. They further compounded this fraud by lodging Kocans with the Tapu showing the security as LAND only..a clearer case of fraud there could not be. Will the perpetrators be arrested…will they be prosecuted? Excuse me, have to go change my knickers…I just wet them from laughing so much.

  • Cyprus Sue

    If Serdar Dantkas really wanted to sort out this problem he would be talking about the introduction of new laws to prevent this from happening and questioning why the law is never enforced. Instead he is doing his best to introduce short term solutions to what is a long term problem.He is also ensuring that the builder /bank is still in a monitory gain position unlike the buyers who will be out of pocket to the tune of thousands.

  • fluter

    Exactly Sue. He will be getting something out of it too, never fear!

  • Polly Marples

    this is what they should do..follow the lead of ROC.