Court postpones Apoel €2.3mil debt hearing
The Nicosia District Court on Wednesday postponed the hearing of the case of football club Apoel’s owings to the social insurance and other funds.
The case hearing had been ...
Our View: Endgame nears for football clubs dodging tax debts
Newspapers reported earlier this week that the Tax Department was, at long last, preparing cases against four football clubs for unpaid tax debts. The reports, which named the four clubs, ...
Finance ministry urges football clubs to settle €35.6m in debt
The finance ministry on Tuesday sent a letter to football clubs participating in the debt repayment scheme, urging them to settle their debts to the state, totalling €35.6 million, which were ...
Turkish Cypriots’ credit card debt ‘doubles in a year’
Turkish Cypriots’ credit card debt doubled within the space of a year between June 2023 and June this year, according to figures released by the north’s central bank on Tuesday.
...
Our View: New law seeks to reward lawbreakers
Rule of law that is applied selectively is not rule of law. It is a form of authoritarianism in which the state decides who is allowed to break the law ...
Complaint filed after police stop workers from cutting power to north airport
El-Sen, the employers’ union of the north’s electricity authority Kib-Tek, announced on Saturday night they had filed a complaint to the Turkish Cypriot police after police had prevented them ...
North university ‘in millions of debt’
Famagusta’s Eastern Mediterranean University (EMU) currently has a tax debt of 3.2 billion TL (€92.8m), the north’s ‘finance minister’ Ozdemir Berova said on Monday.
He was speaking during a ...
North’s electricity authority 805 million TL in debt
Kib-Tek, the north’s electricity authority, is in 805 million TL (€27.4 million) of debt, it was announced by the north’s ‘government’ on Thursday night.
The debt is owed to Turkish ...
Cronyism and inequity continue with new Cyprus government
By Les Manison
Newly elected President Nikos Christodoulides promised in his campaign that his government would be one of “broad social acceptance”. For the economy this should mean a situation ...
Disposal of property to defraud a creditor
Disposition made with intent to defraud a creditor is deemed to have been made fraudulently and may be set aside by a court order
The court can set aside disposition ...
What is debt settlement and what are the risks?
Dealing with your creditors through negotiation is the process of debt settlement or debt resolution. You have two options: either do it yourself or hire a firm to do it ...
Government debt to GDP ratio falls in Q4 2021
At the end of the fourth quarter (Q4) of 2021 government debt to GDP ratio in Cyprus was 5.4 percentage points lower compared to Q3 of 2021, and 11.4 percentage points lower than at ...
Cyprus to start reducing debt and cash reserves as situation normalises
The government’s cash reserves amounted to €3.84 billion at the end-2020, approximately 20 per cent of the island’s GDP, despite pressure on both public finances and the economy due to ...