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November' 2014 | Archive | Blog

Foreclosure Law in Cyprus Rejected


The Cypriot Supreme Court just rejected four out of the six bills on foreclosureThe ground for rejection was the violation of the principle of separation of powers. As a result, Cyprus can now receive the next tranche of the 436 million euros funds from its international lenders. Prior to this decision, lenders said they would wait for the court’s decision before releasing the money.