34.7 C
Nicosia
Monday, June 24, 2024

The Co-operation of Democratic Forces is in favor of the establishment of a Special Court for financial disputes

Must read

The Co-operation of Democratic Forces in favor of the establishment of a Special Court for financial disputes

The Cooperation of Democratic Forces is in favor of the establishment of a Special Court and the adoption of the draft law on the use of Arbitration after the sending of the “letter I”.

“On the occasion,” the Co-operation of Democratic Forces states in its announcement, “the public debates and the various developments that are taking place, for the establishment of a Special Court, as the Co-operation of Democratic Forces, we declare the following:

The recommendation of the Special Court for cases of financial disputes, which should have been made from 2018, is in the right direction and will greatly restore the negotiating balance between Borrowers and Banks.

At the same time, in combination with the above, there is our submitted law proposal from 12/11/20 for the use of Arbitration after sending the “letter I” (termination of loans) that will decide within 30 days, on issues such as: – The legal amount of debt, -uspiracy, -debt, etc. before the sale process, can be important tools to get justice quickly in disputes between financial institutions, loan companies and Borrowers.

The proposal of the institution of Arbitration can, in fact, be implemented immediately by filling the gap (from the receipt of letter I to the sale), until the establishment of the Special Court in practice.

We emphasize again that our philosophy as “Cooperation” is to build constructively, proposing and supporting feasible solutions for the benefit of the citizen and the wider community.

Source: politis.com.cy

- Advertisement -AliExpress WW

More articles

- Advertisement -AliExpress WW

Latest article