Paradise hills in the Roc Bank to sell to clear developers Debts!!!

wanderer


Joined: 05/02/2009
Posts: 1653

Message Posted:
18/10/2011 09:06

Hames said that no information had been forthcoming from any of the parties involved and that they were still being left in the dark.

According to Hames, a couple of the owners were recently told by BoC that the bank may eventually auction the site, for which they hoped to gain a seven figure sum.

“No-one is going to pay that kind of money for a site which is three quarters complete and parts of which are deteriorating badly,” Hames said.

“It’s too much money for all of us to buy and complete ourselves and we really don’t know what to do. I’ve ended up squatting in my own home.”

Hames feels particularly bitter because he carried out thorough research before buying a property in Cyprus.

“There were no mortgages or incumbencies on the land and everything was done as it should be here. Our contract was also lodged with the land registry,” he said. “I don’t see why I should have to pay to help clear MDB developer’s debt with the bank.

wanderer


Joined: 05/02/2009
Posts: 1653

Message Posted:
18/10/2011 09:08

The article in full gives a view of the islands corrupt ways with the chairman of the BoC being on the board of Aristo property developer see the readers comments

http://www.cyprus-mail.com/cyprus/no-end-hell-paradise/20111016