K5 v Akfinans Bank | From Here to Eternity

K5 v Akfinans Bank - From Here to EternityWITHOUT PREJUDICE

“The ECHR case is different. She has suffered through no fault of her own, rather the negligence of the local authority, i.e. TRNC. They should have the safeguards in place so that innocent buyers should not endure such injustices. You have a strong case at ECHR.”

I was going through some old comments on C44, it was a comment about Pauline Read and the K5’s proposal of taking their case to the ECHR if all domestic remedies fail.

Now suddenly after so many negative decisions, the court in Girne on the 4th Dec 2014 found that the bank did act fraudulently. The bank has appealed this decision and obtained a ‘stay of execution’ of the decision.

Using the last Appeal K5 were involved in as a yardstick, 18 months elapsed between the decision not to grant them an Interim Injunction (same Judge) and the actual overturning of that decision in the High Court. Eighteen months in which the bank, managed to get the two Kocans divided into separate Kocans and to transfer Pauline Read’s property into the name of a former Director of Akfinans Bank Limited.

It is now the 7th March 2015, some three months and the Appeal date has not yet been given….I do not believe the bank will sit on their hands and wait, they have a history of using the time between cases to improve their position.

Lets us also consider. Is this latest decision going to be ratified or overturned? Who knows? However, you will forgive me for thinking that maybe it will be ratified simply BECAUSE the TRNC do not want the Kulaksiz 5 to go to the ECHR.

If it is ratified, one could also be forgiven for thinking that, that should be the end of the Kulaksiz 5’s ordeal at the hands of legal system and their villas will be returned to them and the issue of the mortgages should be between the bank and the borrowers. You would be wrong, the legal team say that the K5, if they win, have to be involved in the rehearing of the case brought by the bank against the borrowers in 2006. In essence, back to square one with all additional cost involved. Remember, the case with the Appeal that will surely follow will take more years of the lives of the elderly victims.

It truly is the never ending story. A story where all the heroes (K5) die before they get justice so that the injustice meted out in the TRNC remains under wraps and is not aired in the ECHR.

This is my personal take on what is happening in KULAKSIZ 5 v AKFINANS BANK LIMITED et al and the script has been choreographed from the beginning.

Citizen Smith

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