Bank to auction Turkish Cypriot apartments now?

A meeting had been set up for Friday 11th June (tomorrow) between Akfinans Bank Limited and Kulaksiz 5.

This afternoon just after 4 p.m. the rules of engagement were changed by Akfinans Bank Limited. They came up with the following demands:

1. Every owner must produce their Contract of Sale.

2. Every owner must produce their receipts for payments made for their homes.

3. Every owner must sign a Confidentiality Notice not to divulge information about the meeting.


Now it occurs to me that it is a little late to be looking at Contracts, surely they should have been doing that back in 2005 when they advanced the mortgages.

Confidentially Notice – You Couldn’t Make It up – could you?

I have been reliably informed that there will be another auction on Sunday of this week. This Auction involves Turkish Cypriot owners and is said to be apartments opposite the Court in Girne. I will give more information as I get it.

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