in Cyprus Today – 23/3/2011

Poisoned and paying more – for electricity because  535mTL is owed by the government to the government-run Kıb-Tek electricity company which faces being sold off because of its loss making. Electricity bills are expected to go up by 10 kuruş per unit and environmental updates  will remain uninstalled.

Accusations fly at injunction hearing – K5’s advocate accused Akfinans Bank of not bothering to check that sold properties had been built on land they were granting a mortgage on. Mr Kurşat for the bank said that contracts should have been registered by March 2008 but were not done so until November 2008 and so this meant that under Cypriot law the builder could mortgage the land and ignore his contractual obligations. Editor: which seems to have allowed circling vultures to swoop. Strange how common-sense would tell anyone except the judiciary and the government that this action has every hallmark of a fraud, e.g. mortgaging after the contract registration time limit was passed, keeping this secret from the purchasers  and then allowing the mortgage debt to rise from £40,000 to £600,000 in a short time. People are getting rich off pensioners life-savings and that would be only acceptable in what kind of country?

Evicted couple’s court date delay – see Saturday’s Cyprus Today

Not much else worth repeating


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