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The intervention of Commissioner Ioannis led to the suspension of the auction

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The auction of a property scheduled for March 7, which is the professional home of the borrower, was suspended, following the adoption of the proposals of the Financial Commissioner, Pavlos Ioannou himself announced on Thursday, noting that the cancellation of the sale is of particular importance. property is a commercial property, producing strategic value activities related to the tourism sector “.

The suspension was settled by the Office of the Financial Commissioner, in collaboration with APS Debt Servicing Cyprus Ltd (hereinafter “APS”), in its capacity as a legal and duly authorized representative of the Hellenic Bank Public Company Ltd (hereinafter the “Hellenic” .

This settlement took place after the adoption of Mr. Ioannou's proposals by APS (and consequently by the creditor, ie Greek).

The complaint was submitted to the office of Mr. Ioannou on 15/2/2022, against APS and Elliniki and the Commissioner points out as particularly important the fact that the complainant is a legal entity, ie a company, which is active in the tourism sector.

In the complaint, the interested party addressed a warm request to the Financial Commissioner, for suspension and cancellation of the planned auction of her property and his contribution in order for Hellenic Bank/APS to restore its original proposal for the repayment of its debts, with the payment of its debts. € 245,000 and not € 271,000, an amount which, according to her, was later claimed by the creditors despite the initial agreement.

Mr. Ioannou informs that on 21/2/22 he sent a letter to a competent officer of the Hellenic Bank/APS and suggested the possibility of reconsidering the borrower's request, for the payment of the initially required amount of € 245,000 (with immediate payment), in order to avoid the planned sale process of her professional property.

APS responded to the request by letter dated 28/2/22, clarifying, as stated by the Commissioner, that despite the fact that the allegations made by the borrower are not accepted by it, “nevertheless decided to proceed, on the the cancellation of the planned auction and to set a new date for the sale of the property in question “.

The company also informs that “the cancellation of the auction does not accept the claims of Ms. xxxxx and the Bank and/or APS fully reserve their rights to set a new auction date of the property in question at a later date”.

< p>The Commissioner in the note sent to the media states that he is obliged “to call (and please) Hellenic, to take very seriously the circumstances of the owner of the complaining company, but also the fact that any sale of its assets in question “is a dramatic divestment, which is a hindrance to the overall development effort.”

“Among other things, it opposes the general interests of the National Economy, but also of the banking system itself,” >

Regarding the circumstances of the owner, she points out the fact that “they are formed by a series of unpleasant events, with very clear characteristics of humanitarian dimensions”.

“I also point out her heroic effort to save the property of her five orphaned children, but also of her own. But regardless of that, I call on the complainant, then, to work with her creditor and APS in good faith. “, to find a final solution to the problem, which excludes the possibility of recourse to the sale process”, says Mr. Ioannou.

The Commissioner also notes that because for several months now there has been a series of requests for the cancellation and suspension of forthcoming real estate sale procedures, which are considered by those concerned as unfair and objective, these requests are now submitted to the Office in the form of complaints and their submission is done within the procedures of the Law.

The Commissioner points out the fact that in many cases, the relevant requests for cancellation or suspension of auction are submitted only a few days and even before the auction date is set) and this makes it completely impossible to make any effort to achieve the expected result. of their obligations, through the procedures provided for utilizing, to the fullest extent possible, the Code of Ethics contained in the 2015 Debt Management Directive of the Central Bank of Cyprus.

Source: www.philenews.com

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