Not A Member Yet? See All The Features Of The Forum By Clicking Here To Register For FREE! Or Members Login Below:

Cyprus Eastern Forum Index Cyprus Eastern Forum Index
Offering Free Help, Advice, Tips & Support for those buying or living in:
Paralimni - Protaras - Pernera - Kapparis - Agia Napa - Larnaca - Oroklini - Pervolia - Kiti - Xylofagou
Vrysoulles - Frenaros - Dherynia - Sotira - Agia Thekla - Liopetri - Ormidia & surrounding areas...

 
Main Homepage Cyprus Eastern Forum Index Register Directory Memberlist Search

Ads By Forum Sponsors  

    
Cyprus Eastern Forum Index » Property Action / Support Groups » CRI AND SNK
Post new topic  Reply to topic   View previous topic : View next topic 
CRI AND SNK 
Post: #1   PostPosted: Sun Oct 05, 2014 9:13 am Reply with quote
pigeonman
Joined: 05 Mar 2012
Posts: 117
Pictures: 0

 
Has anyone heard anything regarding the liquidation of Snk as I never get ANY response from cri ?
Personal Photo Album View user's profile Cyprus News,Weather & Travel


Hide These Ads? Register for Free or Login

 
Post: #2   PostPosted: Sun Oct 05, 2014 10:00 am Reply with quote
Kwacka
Forum Moderator
Forum Moderator
Joined: 24 Sep 2005
Posts: 13879
Pictures: 3
Location: Republic of Cyprus

 
The last information reported here was about a month ago on
Links only visible to Registered Members
Register for Free or Login to the forum.

- sadly seems that o further forward.

_________________
The point of modern propaganda isnít only to misinform or push an agenda. It is to exhaust your critical thinking, to annihilate truth - Gary Kasparov
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
Re: CRI AND SNK 
Post: #3   PostPosted: Sun Oct 05, 2014 9:06 pm Reply with quote
crissbroon
Joined: 08 Oct 2006
Posts: 677
Pictures: 0
Location: Scotland and Xylophagou

 
pigeonman wrote:
Has anyone heard anything regarding the liquidation of Snk as I never get ANY response from cri ?


I think it unlikely that any definitive information will be forthcoming until the Foreclosure Laws and any amendments aimed at protection of vulnerable groups, are firmly in place and accepted by Troika. That means at least until the Supreme Court decides whether the proposed amendments are within the constitution or not. This will be known later this month hopefully.
In fact, it may not be clearer until the new Insolvency Laws are in place which are supposed to be in place by the end of December. These laws are also alleged to have some inbuilt protection for certain groups.
To be fair to CRI, as acting rep for our particular project, they have always been responsive to any enquiries I have made, the latest being 1 month ago.
They informed me that CRI were expecting to be issued the deeds from LR for all SNK properties by the end of this year. However, the deeds will initially be transferred by CRI to the BOC.
The bank will then contact each purchaser individually, outlining the bank's requirements before any transfer of the deeds to the purchaser. In simple terms they will request payment of any outstanding developer loans before transfer of deeds.
They added that the deeds will also carry memos re outstanding Tax and for outstanding contractor bills. These memos will be removed from the deeds only when these outstanding debts are cleared.
In essence, as things stand at the moment, there is no difference from the information we all received at the first CRI meeting way back in 2010 or whenever, (can't remember now).
We can only hope that the "powers that be" recognise the injustice in all of this, given that these debts were hidden from purchasers, and that they will provide some protection within the upcoming laws, as having dealt with the relevant bank officials personally on these matters, I see little hope of them progressing in a fair and proper manner.
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
CRI AND SNK 
  Cyprus Eastern Forum Index » Property Action / Support Groups
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
  


All times are GMT  
Page 1 of 1  



  
  
 Post new topic  Reply to topic   
Search Tags:




 Link To Cyprus Eastern Forum    YouTube Channel    Cyprus eBay Search    Shopping To Cyprus    Contact Admin   SmartFeed RSS Feed



BUYING PROPERTY IN CYPRUS? PLEASE ENSURE THAT YOU SEEK INDEPENDENT LEGAL ADVICE FIRST.
Cyprus forum covering Kapparis, Protaras, Pernera, Agia Napa, Agia Thekla, Paralimni, Larnaca, Oroklini, Pervolia & surrounding areas
Please note that the views expressed on this forum are those of the author and may not reflect the views of the management.
* Problems Logging In? Click To Contact Us | Powered by phpBB © phpBB Group Design Style: VTrushkin | View Lo-Fi Version