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Friday 26th August 2011 could be the day that justice prevails in the TRNC

Friday 26th August 2011, the day that could change everything for not only the Kulaksiz 5 but for all the other 1400 plus mortgage victims, and indeed the Banks who hold those mortgages.

It may seem a little premature to claim that but if the Judge does grant an Interim Injunction to stop the sale of any of the villas on the Kulaksiz 5 site in Karşiyaka, it will at least show that there is a little doubt as to the legitimacy of the much disputed mortgage on the properties there. A small hole in Akfinans Bank Limited’s case, but small holes usually grow into large holes and hopefully Boysan Boyra, acting for Kulaksiz victims, may be able to keep poking at that hole until it becomes large enough to drive a double decker bus through it.

Undoubtedly every person involved in the Construction and Tourist Industries are watching this case with keen interest. This could affect these particular industries for years to come should the wrong verdict for Kulaksiz 5 be handed down. If this should happen the Banks holding the mortgages on the other 1400 plus victims will swoop like locusts. The fallout will be incalculable and the effect on the TRNC economy drastic.

One of the victims, property campaigner Pauline Read, is claiming that she thinks that even if K5 are awarded the Interim Injunction, her property may be excluded from it. She claims that because the Kader family have started to occupy at weekends, and made much of her having won her Breach of Contract Action, Akfinans may indeed have convinced the Judge that her case is settled.

In my opinion she is underestimating the Judge’s grasp of everything that has gone before. I think the Judge will be well aware that she has not received the award and the manner by which the Bank illegally and forcefully repossessed her villa. This is a man of the law and I cannot imagine he will be much impressed anyone who flouts the law.

She also seems to have not thought through the whole scenario. If eventually Kulaksiz 5 do go on to prove that the mortgage is illegal, then it will be illegal for all the villas on the two Kocans. There is no way they can have a verdict that says it was illegal on some but not all the properties on the two Kocans. In other words, it is either illegal for all or illegal for none. Of course I am not well versed in the strange way the TRNC law works but it would be logical that if the mortgages are found to be illegal the status quo will resume, i.e. Pauline Read keeps possession of her villa until the Court Award is paid to her. At that time, and only then, she should hand the villa back to the builder, Kulaksiz Construction Limited.

If the mortgage is proved to be illegal, then it never should have been and it was illegal from day one.

I am watching with interest the growth of the Stop the Blackmail in North Cyprus Facebook Group. My good wishes go to them but I feel very sad that the foolishness and greed of some in the TRNC has made such a group necessary.

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