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5 May 2022 INSIDER • GOAL • IN-CYPRUS • PROPERTY • CYPRUS-IS • CAREER LIKE • GOING OUT • XRYSES SYNTAGES • ACTIVE • PHILGROUP NEWS & nbsp; SOCIETY & nbsp; INSIDER & nbsp; OPINIONS & nbsp; GOING OUT & nbsp; CULTURE & nbsp; SPORTS & nbsp; AUTO & nbsp; GOOD LIFE & nbsp; USEFUL & nbsp; PRINTED EDITION & nbsp;
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Next Previous Neither want to hear about credit management companies HOME • INSIDER • CYPRUS • Nor want to hear about credit management companies
& nbsp & nbspΕλευθερία Παϊζάνου & nbsp; & nbsp;
It does not seem to land all the legislation related to loan management companies! On the one hand, the Parliamentary Committee on Finance is pending the bill with which the specific & nbsp; companies in the data of the guarantors, through the Artemis database and through the Land Registry. The bill had to be approved at the end of 2021, as it is a condition for the disbursement of € 85 million from the Recovery Fund. On the other hand, the bill with which the loan management companies and non-credit institutions will have access to the books of the banks, in order to facilitate the promotion of lawsuits against borrowers, is still pending.
The bill will allow ongoing lawsuits against loans sold by banks to loan management companies and non-credit institutions. Under current law, loan management companies are not allowed to take these books to court, as banks do.
READ ALSO: & nbsp; No shadow for credit card companies >
Yesterday, the second bill was put under the microscope of the Parliamentary Committee on Legal Affairs, where it was found that in addition to the reservations of the opposition parties, there were also reactions from lawyers. Before the Commission, the vice-president of the Pancyprian Bar Association, George Christofides, argued that the bill seeks to give privileges to credit-taking companies, to the detriment of other private companies. In fact, he noted that the bill is likely to cause structural change, as lending companies are equated with banks. Concluding, Mr. Christofides stated that the association is expected to submit a series of proposals for changes in the bill.
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