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By Peter Stevenson MEMBERS of Volunteer Doctors Cyprus have treated around 350 people at their free clinic in Nicosia since it opened three months ago, while two more, one in Paphos and one in Polis are due to open today. Limassol also has a free clinic, which was opened only last month, and plans have been drawn ...
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SOME 10 days ago, foreign minister Ioannis Kasoulides raised expectations by announcing the possibility of a deal with Turkey for the opening of the fenced off area of Famagusta, for the return of its inhabitants. In exchange the Cyprus government would agree to the opening of Tymbou airport to direct flights. ...
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By George Psyllides PRIVATE auditors have expressed doubt the electricity authority (EAC) could be considered a going concern and have asked its board to draft a credible plan to tackle the problem, according to the auditor-general’s 2012 report on the semi-state company. Among other issues, ...
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Cyprus Internet Directory [ Silver lining to Tymvios case? ]

Silver lining to Tymvios case?


I was interested in the legal aspects of the ECHR decision in relation to the Mike Tymvios case.

Mr Tymvios will now have to hand over his $1 million to the Official Receiver of the Republic (OR) on the grounds that the sums which he has recovered relate to property which would have been in the possession of the OR on the date of  Mr Tymvios's bankruptcy, were it not for the for the fact that the OR was prevented from accessing or dealing with that property as a result of the Turkish occupation. He would have to pay off his bankruptcy debt, costs and interest, not to mention capital gains tax before any surplus is returned to him.

That would be the rule for such a bankruptcy in the UK. It seems to me therefore that the OR might have done rather better out of the ruling than everyone seems to think.

Chris Christofi, London, UK

(Source: Cyprus Mail)

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