As we approach the seminars being held at Birmingham City FC (Saturday 24th October) and Arsenal FC (Sunday 25th October) there have been some notable recent changes to legislation in Cyprus.
Changes to the laws surrounding how and under what conditions Title Deeds will now be granted to purchasers of immovable property in Cyprus have generated a considerable amount of questions from owners; not least of which are the legal rights of those owners related to obtaining clear title.
Through our continued and lengthy negotiations with the lawyers of the banks it would appear there is a “softening” of the approach being adopted by the Cyprus banks in their offers towards clients seeking a restructuring of their existing foreign currency loan, with more favourable terms and conditions being proposed by the banks and greater “discounts” to the current balances.
Most significant perhaps are recent judgements in various European Courts condemning banks for their lending practices and the profits generated by those banks through foreign currency loans- mainly in the Swiss Franc denomination- which are now directing those banks to repair the financial damage to clients as a result of the currency fluctuations.
We shall therefore be providing in-depth legal commentary on the various European rulings and the updated proposals by the banks for amicable settlements of the outstanding loans, in addition to discussing at length the circumstances surrounding powers of attorney and the validity of a vast number of the foreign currency loans in Cyprus.
The seminars will look to commence at 13.30 and run until 17.30 with a break midway for refreshments.
If you would like to know more about the seminars, to register for attendance or would simply like to talk through your concerns, please feel free to contact us at email@example.com or call for a no obligation consultation on 01438 840258.