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UK investors to fund property disputes
By Charles Charalambous
(archive article - Sunday, March 8, 2009)
A UK company is preparing to provide legal funding to certain groups of property buyers to pursue legal action against Cypriot developers in Britain. The move is aimed at those who are desperate but cannot afford to take on developers or property agents.
Managed Legal Solutions (MLS),a company registered with Britain’s Financial Services Authority, will act as a broker, introducing UK property investors to potential litigants to enable them to have fair legal representation in the UK high courts, in return for a percentage of the financial settlement or compensation award.
MLS Managing Partner Ken Arnold was in Cyprus recently to investigate potential cases, focusing on UK property buyers in Paphos who are unhappy with the way their deal turned out.
Arnold confirmed to the Sunday Mail that for MLS to commit to a case they would have to be confident of a positive outcome. He added: “What’s lacking right now is some cohesion between the ability of the claimants to defend their rights, and a motive for the other side to come to the bargaining table.”
Also investigating the background to certain property deals in Cyprus is the Anglo-Hellenic & Cypriot Law Association, a bilateral of the UK’s Law Society. The association’s aims include providing advice on English, Greek and Cypriot law, and is chaired by Dr Katherine Alexander-Theodotou, a solicitor and registered member of the Nicosia Bar.
http://www.cyprus-mail.com/cyprus/uk-investors-fund-property-disputes
By Charles Charalambous
(archive article - Sunday, March 8, 2009)
A UK company is preparing to provide legal funding to certain groups of property buyers to pursue legal action against Cypriot developers in Britain. The move is aimed at those who are desperate but cannot afford to take on developers or property agents.
Managed Legal Solutions (MLS),a company registered with Britain’s Financial Services Authority, will act as a broker, introducing UK property investors to potential litigants to enable them to have fair legal representation in the UK high courts, in return for a percentage of the financial settlement or compensation award.
MLS Managing Partner Ken Arnold was in Cyprus recently to investigate potential cases, focusing on UK property buyers in Paphos who are unhappy with the way their deal turned out.
Arnold confirmed to the Sunday Mail that for MLS to commit to a case they would have to be confident of a positive outcome. He added: “What’s lacking right now is some cohesion between the ability of the claimants to defend their rights, and a motive for the other side to come to the bargaining table.”
Also investigating the background to certain property deals in Cyprus is the Anglo-Hellenic & Cypriot Law Association, a bilateral of the UK’s Law Society. The association’s aims include providing advice on English, Greek and Cypriot law, and is chaired by Dr Katherine Alexander-Theodotou, a solicitor and registered member of the Nicosia Bar.
http://www.cyprus-mail.com/cyprus/uk-investors-fund-property-disputes
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