The revised 'trapped buyers' bill designed to overcome the problems of the current law has been approved unanimously by MPs, but legal services have doubts that constitutional difficulties could not be resolved.
A bill aimed at improving the 2015 trapped buyers law, which was successfully contested by the banks as being unconstitutional in the lower courts is being discussed by the House Legal Affairs Committee.
The Limassol District Court has upheld the 'trapped buyers' law overturning previous district court rulings in favour of banks that blocked Title Deeds being issued to some 70,000 trapped buyers.
The House Legal Affairs Committee is meeting today in efforts to resolve constitutional issues with the trapped buyers law. Meanwhile here is sitrep from Marina Massoura from the law firm of L.G. Zambartas LLC.
