Sercem awarded £8 million, which should enable release of Title Deeds

tanwg


Joined: 15/02/2009
Posts: 24

Message Posted:
02/01/2011 19:22

Sercem Construction, owned by the Lefkosa mayor Cemal But----, has been awarded £8 million by the North Cypus courts, as a result of losses due to an unfair compulsory order placed on 32 donums of land in Bellapais in 2004/05 (See Christmas edition of Cyprus Today). That makes the land with planning permission worth £250,000 per donum, in my estimation and Sercem cash rich.

Anyway, the award should enable Sercem to pay off all their debts and re-mortgages, this will then enable all outstanding Title Deeds to be transferred to their rightful owners. So, if you're one of the unlucky ones still awaiting your Kokan transfer from Sercem, start chasing NOW.

I'd personally give them a time limit of a month for the transfer of deeds before placing an injunction on the company. The last thing that Cemal wants in 2011 is bad publicity, as he's got intentions of runnig for the deputy leadership of his political party, who are presently in government.

magicart


Joined: 05/10/2008
Posts: 985

Message Posted:
03/01/2011 09:08

A very interesting thread.



Sergem also built 3 Villa's in Esentepe.The developer/land owner is a guy called Robert Cooper trading under the name of "Robert Stephens Homes."The purchasers of these Villa's are still having lots of issue's with Rob Cooper and his father Steve Cooper and we understand that Steve commissioned Sergem to build 9 Villa's in Catalkoy a few years ago.



We would like to hear from anyone who may be having similar issues.

Thanks]

Art

Tenakoutou



Joined: 27/07/2009
Posts: 4110

Message Posted:
03/01/2011 09:16

So, please excuse me for being slightly sceptical, but from where is this £8 million coming from - i.e., who, according to the court ruling, actually owes Sergem?

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
03/01/2011 09:19

The compulsory purchase unfair or otherwise must have been a government thing so presumably the judgement is against the government.

yorgozlu



Joined: 16/06/2009
Posts: 4437

Message Posted:
03/01/2011 09:48

This is the land he was refused building permition in Kyrenia that he had taken the government to court for when CTP was in power.

Tenakoutou



Joined: 27/07/2009
Posts: 4110

Message Posted:
03/01/2011 10:15

If it was CTP in power, how can UBP be responsible for paying out? Has he 'missed the boat', especially as CTP was reported in the newspapers at the time to have left only debts?

yrret


Joined: 17/08/2010
Posts: 761

Message Posted:
03/01/2011 11:05

'awarded' does not mean 'applied' or 'enforced'



He doesn't have anything yet.

pollymarples


Joined: 08/08/2010
Posts: 1778

Message Posted:
03/01/2011 11:14

I think the ruling party is irrelevent, it is the government BUT SURELY paying it is an impossibility, perhaps they will ask the court to let them pay in instalments, i.e. £2.50 a week.............

tanwg


Joined: 15/02/2009
Posts: 24

Message Posted:
03/01/2011 12:15

Two interesting points.

1.There shouldn't be a problem with payment, as this should come from government funds (Turkey in other words).

2. £250,000 per donum or £8 million in total, I wonder how the courts arrived at this sum?

tanwg


Joined: 15/02/2009
Posts: 24

Message Posted:
03/01/2011 12:15

Two interesting points.

1.There shouldn't be a problem with payment, as this will come from government funds (Turkey in other words).

2. £250,000 per donum or £8 million in total, I wonder how the courts arrived at this sum?

yrret


Joined: 17/08/2010
Posts: 761

Message Posted:
03/01/2011 13:27

I would guess that £250k per donum is simply reflecting the market values in a times of depressed selling.



I'm sure there will be a few gardens up for sale now though!

apc2010


Joined: 28/07/2010
Posts: 1689

Message Posted:
03/01/2011 14:52

Wonder if Geoff will get his comp before him..???

Alan12


Joined: 26/02/2011
Posts: 1

Message Posted:
26/02/2011 23:55

hi just wondered if you knew how i would be able to get an injunction on sercam company if he does not give me my title deeds



thanks

Quarmby


Joined: 15/09/2008
Posts: 975

Message Posted:
27/02/2011 00:26

Good news, my property which is up for sale has jumped from an asking price of £120,000 to to about £337,000 plus the price of the house. I'll dream on!!!

stevo-london


Joined: 23/10/2010
Posts: 253

Message Posted:
27/02/2011 00:48

Known FACT most of sercems propertis have mortgages on them!!! BEWARE... How on earth he can be mayor is beyond me...

malsancak


Joined: 23/08/2009
Posts: 2874

Message Posted:
27/02/2011 09:19

Has Sercem received the payout, cleared the mortgages, issued title deeds? OK, that question was rhetorical so straight to the real question has anyone owning a Sercem property done anything about this?

tanwg


Joined: 15/02/2009
Posts: 24

Message Posted:
27/02/2011 20:55

Reply Message 13,

Ask your advocate to place an injunction on Sercem, will cost you £1-£2000. Perhaps Ismet (Elko) may have some further advice as to how this can be done for less money.

You'll probably be top of the list when it comes to release of the Title Deeds, once Sercem have received the compensation.