The three wise monkeys see no evil, hear no evil, prevent no evil

Dear Minister Kamil

Re Property Market

11th May 2009

I read with interest the proposals made by Hasan Sungur, Chairman of the Estate Agents Union to stimulate the Property Market after the adverse EU decision in the Orams case. His ideas are laudable and necessary, however, both he and the previous administration are ignoring the “5th columnists” within the TRNC whose actions are also sabotaging the recovery of the Property Market, I refer to the rogue Builders aided by the Banks and Financial Institutions who are stealing properties purchased in good faith by unsuspecting ex patriots. To us the Greek Cypriots’ claims are the least of our problems!!

My own experience is just the ‘tip of the iceberg’. I contracted to purchase, signed the Contract and paid Stamp Duty within the prescribed time on the 14th September 2005 and was assured it was legally binding on ALL signatories. On the 11th November 2005 Akfinans Bank advanced the sum of 100,000 TL to the Builder/Landowner who used the land, my and twelve other properties were already occupying; at this point all but one of these properties were sold. Akfinans then registered a mortgage against the two Koçans involved with the collusion of the Landowner. The Bank did not exercise due diligence when making this loan and which, in my opinion, was fraudulently offered and fraudulently accepted as security, land which was no longer available for that purpose. Had the Bank bothered to look at any of the Contracts, they would have discovered that to allow the loan would involve them in aiding and abetting the Builder/Landowner in Breaching the Contracts.

I do have a Breach of Contract action ongoing at present in the Girne District Court.

With regard to Akfinans Bank. On the 20th November 2008 they were given a judgement to enable them to repossess our homes. This judgement was made on the facts given to the Court but I submit that since our interests (the innocent victims) were not taken into account, there is much the Court was not told. The original loan of 100,000 TL now stands at approximately 600,000 TL which does not need a mathematical genius to work out that the rate of interest was ridiculous. In my opinion, my co-signatories of the Contract never intended to repay this loan and ALWAYS intended to cheat us out of our homes. An interesting fact admitted to me by the Bank Manager who granted the loan was that he and the Landowner Yuksel Yilmaz are best friends!!

My Advocate has registered a case against Akfinans Bank at Girne but has been advised that it would be better to go straight to the High Court with such an important case. With this in mind she has had an informal meeting with a High Court Judge who advised her that we would be unlikely to win this action.

I do not intend to go down without a fight especially as I have been treated so badly. Despite the negative opinion of the High Court Judge I intend to lodge an appeal against the judgement made in Akfinans Bank’s favour and to proceed with legal action against them.

If I am unsuccessful and Akfinans Bank do repossess my home it will open the floodgate for other Banks to do the same to hundred of other unfortunate ex-patriates in this situation. This will entail another Court case and public opinion when the media will become involved and the Greeks will be loudly applauding so that any success Mr. Sungur has in reviving the property market will then be negated.

I love the TRNC. I do not want to leave. I do not want to be cheated.

I understand that the TRNC Constitution guarantees me a reply within fifteen days. I look forward to it.

Yours faithfully

Pauline Read

Copies to:

  1. Tugce Volkan = Property Information Office Complaint No. 132
  2. Marion Stokes = Home Buyers Pressure Group
  3. My Advocate

This letter was sent Registered Mail through Lapta Post Office and I still have the receipt stamped, Did I ever get a reply? NO! Nor did I get a reply to the other letters I sent to the Minister of the Interior. I do not think there is anything I can add to this except LOOK at the DATE of the letter to Ilkay Kamil Minister of the Interior.

PROPERTY JUSTICE SILENT PEACEFUL CANDLELIT VIGIL 14th November 2010. 16.00 to 18.00 Lefkosa


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