THE FOURTH bill that forms the so-called insolvency framework affords protection to crisis-stricken homeowners whose homes are worth up to €250,000 and the amount they borrowed must not exceed €300,000.
The bill affords protection from foreclosure to individuals who meet certain criteria.
To be...
THE INTERNATIONAL Monetary Fund (IMF) on Thursday said it could no longer release funds to Cyprus under its bailout this week, after the euro zone government suspended a foreclosure law that was required under the loan program.
“Following today’s suspension of the existing legislation on...
OPPOSITION MPs have delayed the implementation of the repossession legislation until the end of January. The proposal, which was submitted by the Movement for Social Democracy (EDEK), passed by 39 votes to 19.
Communist party AKEL had earlier proposed that the legislation should be suspended until...
FOLLOWING the article we published last year (Land Registry myth exploded) the Auditor General’s report for 2013 reveals that the government is unable to collect taxes from some 305,000 people because Land Registry records do not contain their ID card numbers.
Of those 305,000 approximately...
ARISTO DEVELOPERS on Monday blamed the dismissal of 50 workers mainly on the company’s legal troubles relating to a suspicious land zoning case that saw its owner charged, along with his wife and two others.
The company said it had tried to preserve jobs in the hope that its sales would recover....
