Kulaksiz 5 -v- Akfinans Bank – Cyprus Today Article


Kulaksiz 5 -v- Akfinans Bank – Cyprus Today Article

Read this report of the hearing at the Girne District Court on 23rd/24th/25th June 2014.

CYPRUS TODAY Saturday 28th June 2014

K5 hearing 23rd 24th 25th June,

If I had not read it with my own eyes, I would not have believed Mr Ertug Kader would appear to lie on oath in a Court of Law. He refers to a report taken by the Bank in March 2005 valuing the site at 16,000 TL, yet we have report valuing it at so much more. A report commissioned by the Bank.

He says the interest rate was not 250%. How come this is on the mortgage deposited with the Tapu? How come the judge who gave the judgement on the 20th November 2008 changed it to 80% per quarter compound which actually works out at more?

The meeting Ertug refers to actually took place on the 9th July 2008 in the office that overlooks the Banking Hall of the Girne Branch of Akfinans Bank Limited and we accessed it through the Tailor Shop owned by Adem Kader. The meeting was at 16.30 and those present were:

Ertug Kader
Hafis (Abdurrahman Guney)
Orhan Cimer
Richard Barclay
Pauline Read
Chris Smith
Bob French was not present at this meeting.

It is true I did a lot of the talking and contrary to his testimony, I actually made an offer of £70,000 for the property owned by the landowner which was refused even though I left it on the table for one week. The meeting was amicable and not as Mr Kader suggests.

It is a nonsense to suggest they did not know of our existence, they did, the builder has testified to this.

Oh dear the lid is off the can of worms, let us see what else crawls out.

Pauline Read

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