AIPP awaits verdict from European Court of Justice on Northern Cyprus
The Association of International Property Professionals (AIPP) has received the opinion they sought from a senior barrister in London regarding the sale of properties in northern Cyprus. The opinion was discussed at the January Board meeting.
The AIPP is aiming to formulate a policy on the region, which best serves the interests of all potential purchasers and the industry and is in line with the organisation’s remit to ensure its members work honestly, legally and professionally.
Before approaching the barrister, the AIPP also invited the High Commission of the Republic of Cyprus and the Representative of the Turkish Republic of Northern Cyprus (‘TRNC’) – both based in London – to submit their views, relevant information or documents.
‘All Board members had read the QC’s opinion in advance of the Board meeting,’ confirmed Paul Owen, Chief Executive of the Association. ‘After a relatively short discussion, all were agreed on the next course of action.
‘The QC has provided detailed insight into all relevant issues but with one important caveat,’ continued Owen. ‘His opinion highlights that the Orams’ case, a high profile legal case involving the purchase of property in northern Cyprus, is under appeal and due to be heard soon in the European Court of Justice. It was agreed that it would be imprudent to formulate the Association’s policy on northern Cyprus when a verdict from the European Court, a verdict with significant potential impact in this area, could well be imminent.’
The AIPP has requested details on the likely date for the appeal and awaits news.