Cyprus court awards couple €100,000 in property case

walkerscott


Joined: 13/08/2009
Posts: 901

Message Posted:
26/09/2010 08:23

The TRNC Courts should take heed and follow this example on broken contracts:



http://www.news.cyprus-property-buyers.com/2010/09/25/cyprus-court-awards-british-couple-e100000-in-property-case/id=005647?utm_source=feedburner&utm_medium=email&utm_campaign=Feed:+CyprusPropertyNewsStories+(Cyprus+Property+News+Magazine)

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
26/09/2010 08:25

Yes but will the ROC courts enforce the judgement?



I doubt it... but it will be interesting to see what happens.

Washerman


Joined: 19/09/2008
Posts: 2301

Message Posted:
26/09/2010 08:40

Sound's fair to me, but as Groucho says, will they ever see any of the money? It sounds as though several different companies are involved.



Building contractors often do this and keep the assetts in entities that have no contractual obligations to the end client.



It's easy then just to ditch company doing the marketing and sales and leave the complainant high and dry with no money

tamand


Joined: 23/07/2009
Posts: 240

Message Posted:
26/09/2010 08:46

There has already been a judgement made like this in the TRNC courts, but the plaintiffs havent seen any of the money

Washerman


Joined: 19/09/2008
Posts: 2301

Message Posted:
26/09/2010 08:50

In UK Law, there's a point at which the Directors of the company become personally liable and their own assetts are placed on the line.



Problem here (North and South) the 'system' is completely incensitive to the plight of the party that has lost out.



They seem to be operating a 'Buyer Beware' policy and if it goes wrong - tough luck!

Washerman


Joined: 19/09/2008
Posts: 2301

Message Posted:
26/09/2010 09:11

BTW - a buyer beware policy is OK, but not when the PTP process takes so long.



Imagine this for a moment:-



Land paid for by purchaser and Kocan transferred to their name on Day 1. Stage payments agreed and work begins.



If there's a dispute - it's the builder that is in trouble and not the buyer. The buyer just kicks him off the land.



There a crooked people in every Nationality. How many unscrupulous Brit's (knowing that they had their builder's back against the wall) would ask for extras and not expect to pay, get that extra 5m of perimeter wall built for free. Slightly more expensive tiles in the bathrooms. Want a UK quality build etc. etc.



Don't tell me that things would be different if the shoe was on the other foot.



Why would they want to adopt such a system here?

mmmmmm



Joined: 19/12/2008
Posts: 8398

Message Posted:
26/09/2010 09:12

..how many rogue UK company Directors had their personal assets seized as a result of a civil action ? :(



I wonder how this poor B*gg*r is getting on with the RoC Courts..



http://lyingbuilder.com/



I see he is holding a demo at a Foreign homes exhibition “A Place in the Sun Live” exhibition, the NEC Birmingham 1st - 3rd October 2010.

Washerman


Joined: 19/09/2008
Posts: 2301

Message Posted:
26/09/2010 09:14

mmmmmm - I agree, but only because I have to. Retired!

deputydawg


Joined: 30/03/2010
Posts: 1727

Message Posted:
26/09/2010 12:39

mmmmmm. Agree entirely. The problem of lifting the veil of corporate entities and making the numerous rogue directors personally liable is that it seems to be that there will only be a prosecution if there are sufficient assets to clear debts to the state. An investigation will rarely commence unless the victim(s) first put up the necessary funds. Rather like being burgled, you can have a police file number to refer to your insurers but do not expect an investigation.