13.9 C
Saturday, April 13, 2024

The Financial Commissioner ensured a new auction suspension

Must read

Νεα αναστολ or πλειστηριασμοΙ διασφαλισε ο Χ ρηματοοικονομικoς Επiτροπος

A new moratorium on the auction of mortgaged property was secured by the Financial Commissioner – The case, the decision and the reasoning

Download the CYPRUS TIMES APP! HERE for Android and HERE for iOS

Financial Commissioner Pavlos Ioannou secured the postponement of the mortgage property electronic auction, which was scheduled for next Tuesday, giving the borrower time to secure a loan for settlement of its obligations.

In his announcement, Mr. Ioannou underlines that the Code of Conduct of the Central Bank, which is “a very effective tool for the out-of-court settlement of restructurings of non-performing loans” can be applied correctly and fairly as long as both parties come “in good faith”.

In particular, as stated in the announcement, the borrower requested from KEDIPES the suspension of the planned auction for a period of four months , since her daughter has taken out loan procedures to secure the property.

Mr. Ioannou notes that in addition the borrower clarified that she has already at Altamira Asset Management (Cyprus) Ltd, to which she submitted a proposal to restructure her loan or extend its repayment period, but, as she claimed, she received no response to her proposal.

Source: cyprustimes.com

- Advertisement -AliExpress WW

More articles

- Advertisement -AliExpress WW

Latest article