FOLLOWING the news story that we published last Sunday ‘Home buyers may lose their properties’, we understand that the Paphos developer involved has been sentenced to five months in prison for unpaid tax debts.
The developer is reported to owe the bank €3 million which has applied to the court to appoint a receiver.
But a group of property buyers are opposing this appointment as they believe that a receiver will serve the interests of the bank and they feel that there is a better solution that would not result in them losing their homes.