North Cyprus Property Victims | The Next K5 Hearing is on Monday 16th January

The next Kulaksiz 5 Hearing of their full case will take place on Monday 16th January 2012. This will be the first hearing of 2012, but when you consider that this case has been dragging on, in one form or another for many years, that the combined case after the Auction of 6th June 2010 has been ongoing since that date, you have to wonder if there is any will on the part of the ‘powers that be’ to see an end to the case or is their preferred solution to ‘out wait’ the victims so that they will either go away or die? This of course, is a question and not an allegation.

My dismay that the Judge in the present case is the same Judge who has previously ruled against the Kulaksiz 5 and presumably will be hearing all the same arguments again, is a matter of public record. Indeed we are still awaiting a date to ‘Appeal’ his decision to refuse us an temporary interim injunction, in the High Court. The Injunction to stop Akfinans Bank Limited selling our properties before the final outcome of the case is known.

It is interesting that in most civilised countries, such an Injunction would not be necessary, no action would take place until the final outcome of a case or cases. However we are not in another country and we are subject to the laws of the TRNC. It seems that through no fault of any of the purchasers, K5 and the 1400 plus in the mortgage queue, we have fallen foul of unscrupulous people who have taken advantage of an ‘old’ law that allows them to use property already sold to others, as security against a loan.

The Banks claim they are blameless in this, but surely the Banks, all Banks have a duty of care to their Investors, Account Holders and Share Holders to check the provenance of any property/land they are offered as security against a loan. To apply due diligence and also check out the character and the ability to repay of the applicant.

Now it is interesting that as foreigners purchasing here, we have to undergo stringent checks just to be allowed to live here, to purchase property here or even spend time here. Yet, money is handed over to the rogues, with little or no screening, by Banks who have been granted the privilege of safe guarding their Account Holders, Share Holders and Investors’ money. Now forgive me for stating the obvious, we foreigners are bring money into the economy, money honestly obtained through a lifetime of work. These rogues are openly and premeditatedly obtaining money from the Banks fraudulently. For the blame to then be placed at the feet of the victims is a sick joke.

Never give in never give up

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