Bank of Cyprus to initiate foreclosure procedures
By Stelios Orphanides Bank of Cyprus will be likely the first lender in Cyprus to seek to foreclose collateralised real property in more than two...
foreclosures
Guidelines on how to restructure loans
By Elias Hazou The Debtors Association on Monday published guidelines advising borrowers of their rights and what steps they can take when being squeezed by...
The NPL challenge
Restructuring, foreclosure, insolvency or sales? By Erol Riza The various stake holders in the financial sector programme for Cyprus be that the troika, the government,...
IMF fears negative election impact on privatisations
By Jean Christou The International Monetary Fund (IMF) has expressed concern that with parliamentary elections looming next year, Cyprus could find that maintaining reform momentum...
MPs warned over changes to foreclosures (updated)
Changes to the foreclosures legislation could derail the country’s bailout programme anew, the finance ministry warned on Monday, as MPs discussed proposed amendments prepared by...
Troika thumbs up for next phase of bailout
A PERIODIC review of Cyprus’s bailout programme has been successfully concluded, the European Commission, European Central Bank and the IMF said on Wednesday, a key step for the...
Top bankers say foreclosure law will help reduce NPLs
By Stelios Orphanides The law on foreclosures of mortgaged immovable properties, passed recently by the parliament, will help bring clients to the negotiating table, top...
Foreclosures come into effect from Friday
By Elias Hazou PARLIAMENT passed the regulations on Thursday governing properties in foreclosure, enabling the activation of repossessions-related legislation. The ordinances passed after much horse-trading...
MPs focus on logistics of foreclosure sales
By Elias Hazou MPS ON Monday continued discussion of the regulations governing the auctioning of properties in foreclosure, with the aim of voting them into...
BoC to warn non-compliant borrowers of foreclosures
By Stelios Orphanides Bank of Cyprus will begin notifying non-performing borrowers as early as tomorrow that it may initiate foreclosure procedures if they fail to...
