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Stop The Alpha Bank's Application To Auction
Petition Created On: 05 Dec, 2011
Petition Created By: PICAS GROUP
We the undersigned demand that the Ministry of the Interior and the Land Registry in Cyprus act decisively and intervene by rejecting any and all the applications made by the Alpha Bank to auction eight plots of land that were mortgaged to property developer Yiannis Liasides against which contracts of sale to purchase immovable property have been lodged.

Many people who bought from this developer in particular and in Cyprus in general did so with the utmost good faith. They were reassured by the Ministry of the Interior that once a contract of sale is lodged with the Land Registry for Specific Performance then the buyer is protected.

In his statement of the 22nd July 2009, Interior Minister Neoclis Sylikiotis wrote "Nobody and no Authority anywhere can ever challenge the property rights or the ownership status of buyers of immovable property within the territory which is under the control of the ROC." And that "the property market in Cyprus is stable and secure, and property buyers must be absolutely certain that their investments are safe here; indeed, property investment is much safer in Cyprus than anywhere else".

We ask that a clear and unequivocal message is sent to the banks in Cyprus that buyers must not pay the price for the failure of developers, negligence of Advocates, lax oversight by the banks and the inability of successive governments to legislate against this.

Failure to send such a message will result in a complete breakdown of trust and confidence in both the Cyprus property market and also in the assurances made by the Minister of the Interior on behalf of the Cyprus Government.

Please Sign This Petition!

Total Signatures: 1182 Bookmark and Share   
Name Email Comments
Carol Duncan [Hidden email address] Disgraceful
Marilyn Shelton [Hidden email address] Cyprus will become an island of deserted/defaulted homes
Tony Ellis [Hidden email address] Does the reputation of Cyprus no good at all.
Paul Smith [Hidden email address] Why should I pay the mortgage for a property that is not legally mine?
Brian O Reilly [Hidden email address]
Martee [Hidden email address] 1 Rule for 1 and Another for the Others
Gill Tallon [Hidden email address]
Lynn Ellis [Hidden email address] Totally unfair on those poor people who will lose their homes
Karen McGrath [Hidden email address] Disgusted
barbara hurstfield [Hidden email address] This is a disgraceful situation to be in and it could happen to anyone
Gary Grover [Hidden email address] It would be morally wrong to allow this.
Stephen Bayley [Hidden email address]
Lorna Kelly [Hidden email address] What a scandal!
Jonathan Hose [Hidden email address] Another nail in the Cyprus real estate coffin. WAKE UP!!!!!!!!
David Begley [Hidden email address] Stop making innocent buyers pay for the corrupt system in Cyprus
Richard Shelton [Hidden email address] This could only happen in Cyprus!
Andrew Jane [Hidden email address] Alpha you must take the hit
Eileen Hardy [Hidden email address] protect the "beneficial owner" rights as per your law!
nathan grossman [Hidden email address] alpha bank needs to be stoped
Philip Hardy [Hidden email address] the sales contract registered on the title should protect the buyer!
Lorna Bradford [Hidden email address]
George Leventis [Hidden email address] If this sets a standard, what is the actual business risk for a bank?
Doug Melvin [Hidden email address] Criminal and canot be allowed.
Terry Burge [Hidden email address] Banks and Developers at Fault
Kathleen Jackson [Hidden email address] Unbelievable
J Stephen Brooks [Hidden email address] Alpha has contravened the regulations on bad debt.
Geoff Wallington [Hidden email address] Corrupt Gov, Lawyers& Developers all have greasey fingers in the till,
Sue Fry [Hidden email address] Disgraceful
Chris Brown [Hidden email address] must be stopped
david bentley [Hidden email address]
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