K5 v Akfinans Bank | Unhappy Anniversary Approaches

K5 v Akfinans Bank | Unhappy Anniversary ApproachesWITHOUT PREJUDICE

So here we are, approaching the first anniversary of the day Kulaksiz 5 won their lower court main case against Akfinans Bank Limited. 4th December 2014….a whole year and we are really in exactly the same place we were when we were back in 2008 when we discovered the alleged fraud.

Remember that judgement only takes us back to the situation we were in when we purchased….i.e. the Kocans (2) revert back to the landowner’s name and this decision could be overturned at the Appeal. Getting from that position to actually getting the property into each individual purchasers name is still a minefield and will take time and money.

You could argue that perhaps that win in the lower court is the first step to success, I for one do not believe I will live to see the outcome that natural justice demands. Nor more importantly, will I live to see the bank pay for what I consider to be their crime. Fraud is a criminal act, but will the police ever prosecute any of those in TRNC who have committed it? Rhetorical question. Along the way, I personally have seen the police condone it, not condemn it.

On reflection the bank took a lot more from me than my villa. They took my life which has revolved around this heinous act of theirs. It made me distrust, it made me stressed and on occasion it made me ill. Thankfully now away from it, it only colours my life when I allow it to, like now as I write this. I have no doubt it has made Agile extremely ill and our life is now less rich because he can no longer do the things he used to take for granted.

I cannot absolve my initial advocate for her part in this. Naomi Mehmet failed me on so many levels and was in my opinion grossly negligent in her handling of the conveyance of the villa. She knows this, she also knows she bought the time until I could no longer sue her for negligence (six years) and then sacked me as a client.

Life goes on as they say. I will attend the Appeal when it is next scheduled. It was scheduled for the 12th October 2015 but was postponed because of other actions taking place which I am not able to share.

My advice to anyone even considering buying in Cyprus is….don’t do it. Especially in the north, things are too uncertain. There are even talk of purchasers having to pay part of the compensation to GC’s who originally owned land, possibly land your home sits on. This means you will need an open ended cheque book if this condition forms part of any future settlement of the Cyprob.

Pauline Read

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9 comments to K5 v Akfinans Bank | Unhappy Anniversary Approaches

  • Polly Marples

    So tired of waiting. I guess they all are.

  • fluter

    Re your last para Pauline, I really cannot see the logic of that. Surely, logically and morally, the people who sold land to foreigners (and profited from it) are responsible for compensation.

    Yes, yes, I know, logic, morality and fairness do not enter into it!

  • Polly Marples

    Totally agree fluter, but that option would cost them money and we all know foreigners have bottomless purses/wallets.

  • cyprusishome

    Unfortunately Phil, that appears to be the proposal that is to be included as part of any final agreement. Not even to be the person whose name is on kocan, which should be the way forward but that would mean TC would have to pay. So it is the person deemed to be “using” the property at a date to be given.

  • fluter

    “A barrow-load of monkeys” David!

  • Polly Marples

    This was prepared by the duplicitous Naomi Mehmet on the same day as the Sales Contract….another ploy to ensure the Contract was signed.

    Phucking crooks the lot of them.

  • fluter

    Yet another document “not worth the paper it is written upon”?

  • Polly Marples

    The builders/developers/advocates et al colluded together in my opinion.

  • fluter

    Oh, I have no doubt you are right Polly.

    I believe it was all pre-planned.