K5 v Akfinans Bank - Appeal Result Now Due

Kulaksiz 5 v Akfinans Bank | 'Judge Found the Mortgage Fraudulent'WITHOUT  PREJUDICE  –  KULAKSIZ 5 v AKFINANS BANK LIMITED

Appeal result being heard on the 16th November 2017 at Lefkosa High Court at 13.30.

At last we are going to find out what the High Court Judges have decided in the long running saga of Kulaksiz 5 v Akfinans Bank Limited.   We already know what the Lower Court Judge  found in his ruling of the 4th December 2014.   He found that the both the mortgages and the subsequent auction conducted by Akfinans Bank Limited were fraudulent, ergo…illegal. Now the High Court could concur with that decision or overturn it.   There are many who believe that overturning that ruling would be a travesty of justice, not least the victims of Akfinans Bank Limited and indeed all the other victims of north Cyprus banks who have found themselves in a similar situation to the Kulaksiz 5.

If you think waiting a matter of 3 weeks short of 3 years to have the final verdict is too long….I cannot disagree with you.   Certainly another example of Justice delayed being Justice denied.

For those who do not know,  Kulaksiz 5 is the name of the site built by Kulaksiz Construction Limited and the number of properties involved are 10 bungalows, 3 houses and allegedly a further house not built by Kulaksiz but occupying the same land as those built by them on the 2 Kocans (deeds).    Seems a  lot of security for a loan that was less than £40,000 initially doesn’t it?

It has been a long and arduous journey to get to this point and the only way I personally have survived this ordeal is by taking it one day at a time.

Sadly, since the bank broke into and took my villa back in July 2010, an act that would have been impossible in a   country where the rule of law is respected, I personally do not believe that even if the High Court rule in our favour,  the bank will honour the ruling and either offer me compensation or my property back.   The bank has spent tens of thousands of pounds on my property making it into both a very des.res. and a fortress.   I do not expect the bank to put doing the right thing high on their radar.   If the High Court rule in the bank’s favour, then I fully expect them to lose no time in taking possession of the villas of the other members of Kulaksiz 5 by  whatever means they choose.

Regardless of which way the court rule, I intend to Will my villa to a national charity in the UK and if the High Court do favour the bank, I will submit a case against Turkey with the ECHR.

Not so long to wait now…just a few more days and all will be revealed.   Whatever the outcome, the precedent it will create will affect every victim of this form of property fraud in north Cyprus.

Pauline Read

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