Insight & publication
Temporary Suspension of Divestment Procedures (Auctions)
Insight & publication
The members of the Association of Cyprus Banks*, the State’s Asset Management Company (KEDIPES) as well as the credit acquiring company Gordian Holdings Limited suspended the estate divestment procedures (auctions) until 18/6/2020, according to their announcement.
It is worth mentioning that the decision was taken following the recommendation of the Central Bank to facilitate and protect the borrowers due to the adversities caused and/or which may be caused by the appearance of Covid-19 and its subsequent declaration by the World Health Organization as pandemic.
*The members of the Association of Cyprus Banks are the following:
- Bank of Cyprus Public Company Ltd
- Hellenic Bank Public Company Ltd
- Alpha Bank Cyprus Ltd
- National Bank of Greece (Cyprus) Ltd
- The Cyprus Development Bank Public Company Ltd
- Societe Gererale Cyprus Ltd
- AstroBank Limited
- RCB Bank Ltd
- Eurobank Cyprus Ltd
- Ancoria Bank
Photograph: Succo
General information only. This publication reflects the law and circumstances at its original publication date and does not constitute legal advice.
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