K5 v Akfinans Bank | High Court Appeal

K5 v Akfinans Bank |  High Court AppealWITHOUT PREJUDICE

We are now awaiting the date for the High Court Appeal. Remember, we waited 18 months for the date for the Appeal when we eventually were granted the Interim Injunction, from 26th August 2011 till September 2012 for the hearing and until 14th February 2013 for the decision.

K5 Appeal Court Decision a Death Blow to Stealth Mortgages

The K5 Appeal Court decision today is a death blow for Stealth Mortgages in the TRNC. Legal opinion is that banks will no longer be able to claim house buyers homes by taking charges on land after the properties have been contacted to be sold.

This represents a massive breakthrough for house buyers. The TRNC Appeal Court, Boyralaw, Kulaksiz 5 and all their supporters need a massive vote of confidence for pursuing this Justice. MNCB, BRS, HBPG & STBM and many others have all played a significant role in this success.

The 40 page Judgement was issued in Turkish on St Valantines day 2013, which will be now marked as an historic day for all TRNC house buyers. It is estimated that thousands will benefit from this campaign.

As soon as the report is translated and full implications understood a fuller report will be issued”

The above was the opinion of MNCB and the decision of the 4th December 2014 reinforces this as long as:

a) The Appeal Court upholds the decision of the 4th December 2014.

b) K5’s presence in the re-hearing of the case that gave the Bank the repossession order at a future date, agrees that the mortgage was fraudulent and that the bank cannot put any charges on property of the K5 victims (again). You see the final outcome of this is still years away. The cost to the K5 litigants is still open ended and that is a travesty of justice since the Government could end this at once by doing the right thing.

Whilst K5 wait and grow older and older and poorer and poorer, one has to ask the obvious question. How many of the K5 litigants will live to see the end of this case?

The fat lady is not even tuning up yet.

Pauline Read

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