Has a large developer in Paphos just gone into receivership?

[Nigella]

Has anyone heard of one of the large developers in Paphos going into receivership at the end of last week?

 

[mslambs]

Hi, if a developer does go bust do you know what that would mean for outstanding title deeds? We have recently completed on an apartment so havent yet got the title deeds -just wondering how that would work if developer went bust?

 

[Nigel Howarth]

Hi Nigella,

I understand that Liasides, who ran into problems some time back, have been forced into bankruptcy.

 

[Nigel Howarth]

Hi, if a developer does go bust do you know what that would mean for outstanding title deeds? We have recently completed on an apartment so havent yet got the title deeds -just wondering how that would work if developer went bust?

Providing there are no prior claims on your deeds (such as a mortgage) there is no real problem.

Of course, if parts of the development have not been completed, then these would remain as they are.

Regards,