Cyprus Property Forum for Buyers, Sellers & Investors

Hi Nigel,
If an enforcement order is lodged against you for non payment of your mortgage/loan in Cyprus through the UK courts,can the Bank(BOC)seize a property,or enforce a second charge on a property in the UK if that property is mortgaged and jointly owned by father and son,the son being the the debtor in Cyprus.The father is not party to the mortgage in Cyprus.
Can you please tell me what they can do in these circumstances and has anyone had a second charge or attachment of earnings imposed upon them that you or anyone knows about.Regards Mikey

Hello Mikey and welcome to the forum.

If a bank in Cyprus issues a writ in relation to the non payment of loan, it is absolutely essential that you defend the action in Cyprus. You should contact your lawyer in Cyprus to file an appearance in court in Cyprus to defend the claims made within those writs and a further period of fourteen days in which to file a formal defence; this latter time frame can be extended in most instances to allow for the preparation of that defence.

If you do not defend the action, it's probable that the court will find in favour of the bank. If this should happen the bank can then apply for a European Enforcement Order.

A European Enforcement Order is recognised and automatically enforced in in other Member State - and you will not be given the opportunity to defend that action.

If this should happen your UK home and other assets will be put at risk.

I urge you to seek legal advice in the UK (if that's where you are) and how it could affect your father before it's too late.

Regards,

Hi Nigel,
Many thanks for your prompt reply,but I would still like to know from you or anyone that if the Cyprus Bank is successful in obtaining a European Enforcement Order against a debtor for non payment of their Cyprus Loan,has anyone YET had a second charge imposed on their UK property or had an attachment of earnings imposed against their UK salary.Regards Mikey

You're welcome Mikey

I haven't heard from anyone yet who's been the subject of a European Enforcement Order. But there's an article at http://www.thelawyer.com/news/practice- ... 53.article - it seems that the Alpha Bank has been pursuing people.

And another at http://mascotlandlaw.com/press-release- ... arch-2014/

Regards,