Bankrupt developer

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Mythos
Posts: 2
Joined: 14 Mar 2010 19:49

Bankrupt developer

Post by Mythos » 22 Mar 2010 02:40

Hi to all lovers of Cyprus!

My plans to live in Cyprus have been destroyed despite taking all precautions. If anyone can offer advice, or information relating to my experience, it would be greatly appreciated. Equally, it would be good to share experiences relating to Liasides.

In 2006/2007 I entered into agreement with Liasides to build off plan in a village just outside of Paphos. A deposit plus first payment was paid, but building never began. Instead, Liasides disappeared with the money, and later declared himself bankrupt. I am left greatly out of pocket, and all plans to move to Cyprus and begin a new life have been ruined. Not to mention that life in the UK has also been seriously affected due to re-mortgaging the property here to fund the build in Cyprus.

Assistance from the estate agent and solicitor has been near to non-existent, information only being offered when pushed for progress. Has anyone else experienced such poor service?

I still love Cyprus, and want to live there, but need to recoup a lot of lost money. Can anyone help or wish to exchange information/stories?



Nigel Howarth
Site Admin
Posts: 2416
Joined: 24 Oct 2007 14:38
Location: Erimi, Limassol, Cyprus
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Re: Bankrupt developer

Post by Nigel Howarth » 22 Mar 2010 10:05

Hi Mythos and welcome to the forum,

I've had no news about Liasides for some time. As I understand the situation it wasn't a case of him disappearing with the money, he was just incapable of running a business and was eventually forced into bankruptcy by one of his creditors.

The Liasides family were going to mount some sort of rescue package, but squabbles and disagreements between those who had purchased resulted in it not getting off the ground.

Friends of mine purchased one of his properties and fortunately for them most of the work had been finished before the company collapsed. They are now having to pay to have the building and the road completed by another company.

You can find some of the other buyers who have lost money on the CyprusLIving forum at http://www.cyprusliving.org/phpbb/nfphp ... php?t=1957 and I suggest you register with the Cyprus Property Action Group at http://www.cyprus-property-action-group ... gister.htm - they may have some more contacts for you.

Regards,


Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
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Mythos
Posts: 2
Joined: 14 Mar 2010 19:49

Re: Bankrupt developer

Post by Mythos » 24 Mar 2010 02:15

Nigel
Many thanks for your reply. I have followed you since the beginnings of CPAG and think that your presence in Cyprus has been a tremendous success, and one which has been a lifeline to many people buying/attempting to buy property in Cyprus.

I have read with great interest posts at the link you provided, and shall attempt to encourage further posts on more recent happenings regarding Liasides!


Mythos



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