Ombudsman mediates to suspend auction of primary home
Financial ombudsman Pavlos Ioannou has intervened to suspend the foreclosure of the primary home of a woman who has her adult son with multiple sclerosis...
foreclosure
Auctions of foreclosed properties to resume
Banks are resuming the sell-off of foreclosed properties with notifications going out for e-auctions on a number of properties, primarily plots of land and fields,...
Bank calls off pensioner’s eviction after financial watchdog intervenes
The eviction by the Bank of Cyprus of an elderly Paphos resident was called off on Wednesday after the intervention of financial ombudsman Pavlos Ioannou....
Protesters prevent foreclosed home being auctioned off
Protesters on Tuesday prevented the auctioning of a foreclosed primary home, with the result that the residence was eventually sold to a relative of the...
Banks increasingly resort to foreclosures as auctions remain ineffecitve
Cypriot banks are piling the pressure on uncooperative borrowers and resorted to an increased number of foreclosures in the second quarter of this year even...
Bank of Cyprus, the reluctant estate agent
With the Bank of Cyprus (BoC) now being the island’s second-biggest private real-estate agent after the church, it might be seen as a good place...
Fiscal Council says more NPL action needed to limit future losses
The fiscal council said that Cyprus needs to take swift and decisive action to address the high ratio of non-performing loans in the banking system,...
BOC to test new foreclosure law next month
Bank of Cyprus, the island’s largest lender, said that it will foreclose ten properties worth over €2.3m, which will test for the first time the new...
When money flowed like wine
By Hermes Solomon The enactment of the hotly debated insolvency framework into law last weekend is little more than a cull of the poor and...
Cash-strapped Nicosia couple plan to raffle their home
By Constantinos Psillides A couple from Nicosia will be raffling off their three-bedroom home in Kokkinotrimithia in an attempt to deal with crushing debt, 39-year-old...
MPs irked by Hourican brush-off
By Elias Hazou MPs’ feathers were ruffled on Tuesday after it emerged that Bank of Cyprus (BoC) CEO John Hourican declined an invitation to attend...
Mass action planned against foreclosures bill
By Constantinos Psillides MASS protests against foreclosures are being planned by a platform created on Tuesday by labour, pensioner unions and farmer unions in addition...
It’s gonna’ turn nasty
By Hermes Solomon NO BANK can remain in business unless they are permitted to call in unsustainable NPLs to protect depositors and support the bank’s...