Cyprus Property Forum for Buyers, Sellers & Investors

From what I've read various firms have hearings in January including Judicare regarding the Swiss Franc mis-selling, invalid Power of Attorneys etc etc

Despite this all going on for 6 years plus now I'm still yet to hear of anything positive coming out of the courts. Has anything come to a conclusion yet?

Thought I'd create a new thread for people to share any recent experiences and updates of their cases, you must be out there!

My first hearing was set for this week but has been adjourned.

Thanks.

Fingers crossed all.

Mark101 wrote:From what I've read various firms have hearings in January including Judicare regarding the Swiss Franc mis-selling, invalid Power of Attorneys etc etc

Despite this all going on for 6 years plus now I'm still yet to hear of anything positive coming out of the courts. Has anything come to a conclusion yet?

Thought I'd create a new thread for people to share any recent experiences and updates of their cases, you must be out there!

My first hearing was set for this week but has been adjourned.

Thanks.

Fingers crossed all.

It would really interesting if victims of the Swiss Franc mis-selling scandal would share their experiences
I too would love to know what's happening with current court cases - what compensation is being offered etc

Brookster

Mark101 wrote:From what I've read various firms have hearings in January including Judicare regarding the Swiss Franc mis-selling, invalid Power of Attorneys etc etc

Despite this all going on for 6 years plus now I'm still yet to hear of anything positive coming out of the courts. Has anything come to a conclusion yet?

Thought I'd create a new thread for people to share any recent experiences and updates of their cases, you must be out there!

My first hearing was set for this week but has been adjourned.

Thanks.

Fingers crossed all.

It would be good if victims would share their experiences of where they are at with their court cases Ref Swiss-franc Miss-selling
Invalid power of Atty etc
What's being offered compensation wise!

Brookster

The bank did offer me some sort of deal to make smaller payments and they will take the property and try and sell it.

Part of me wants to accept it just to finally get rid of the mess but I have never even received the property so why should I be paying for something I've never even seen??

Mark101 wrote:The bank did offer me some sort of deal to make smaller payments and they will take the property and try and sell it.


Part of me wants to accept it just to finally get rid of the mess but I have never even received the property so why should I be paying for something I've never even seen??

Just hope European Courts get involved & make a ruling forcing Cyprus banks to compensate everyone involved !
Brookster

Mark101 wrote:Despite this all going on for 6 years plus now I'm still yet to hear of anything positive coming out of the courts. Has anything come to a conclusion yet?

No - the cases have yet to be heard in court.

The groups representing those who want to keep the property they purchased with CHF loans have negotiated discounts on the loan, involving the bank taking part of the hit and converting their loan to Euros.

Regards,

Hi All
Not been on the site for a while ,i have recently resolved my swiss franc mortgage issue with Alpha bank,i got a 40% discount on my mortgage in return for me paying the outstanding balance .
I like many got fed up waiting for the court cases so took their offer,only time will tell if its the right decision, but i am now paying a loan in the UK to cover it but i know my payments will stay the same every month and am only paying it off over a shorter period.
I have a hefty solicitors bill but can sleep better at night now.
Andy

andy0101 wrote:Hi All
Not been on the site for a while ,i have recently resolved my swiss franc mortgage issue with Alpha bank,i got a 40% discount on my mortgage in return for me paying the outstanding balance .
I like many got fed up waiting for the court cases so took their offer,only time will tell if its the right decision, but i am now paying a loan in the UK to cover it but i know my payments will stay the same every month and am only paying it off over a shorter period.
I have a hefty solicitors bill but can sleep better at night now.
Andy

Well done on that Andy, I'm sure it's a huge weight off your shoulders!

Don't blame you at all, been thinking about taking the offer myself but I don't even have the keys to the place so couldn't make use of it even if I wanted to.

Has anyone had anything through the courts yet?

My case had a hearing back in January but now adjourned until May. The bank have offered an out of court settlement but it probably too expensive for me.

Trouble is if no cases have been heard yet I still might lose it!

Any idea what would happen to current legal cases should Britain leave the EU?

Unfortunately Mark I don't have a crystal ball. No-one can say categorically what will happen if there's a BREXIT because the UK would be a test case. The best you can expect is expert opinion and reasoned arguments.

Regards,