Statement by AKEL MP Aristos Damianou
Society demands the restoration of borrower’s right to appeal to courts for suspending foreclosures
In 2018, on the initiative of the Anastasiades-DISY government and the Banks, the majority of parties in the House of Representatives – despite AKEL’s fierce opposition – removed from borrowers the right to appeal to courts aiming at the suspension of the foreclosure of property.
Today, in the Legal Affairs Parliamentary Committee, we examined the Anastasiades-DISY Government’s much-advertised bill, which amends the Court of Justice Law, with the creation of special sections for speeding up the judgement of cases.
The position of AKEL is clear. Without improving the legislative framework, which will restore the balance between the rights of banks with those of borrowers, all that the possible approval of this bill will achieve is the further acceleration of foreclosures, with unforeseeable social impacts.
We are satisfied that AKEL’s positions are now adopted by other parties, resulting in the serious possibility of the rights of borrowers being restored and the termination of an arbitrariness that has reached a climax in recent years.

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