Developer Can't Dodge £5.5M Payment To Cyprus Bank

Law360, London (July 25, 2019, 3:45 PM BST) -- A judge has dismissed a fresh attempt by a property developer to avoid paying the Bank of Cyprus £5.5 million ($6.9 million) owed under a loan after he lost his suit against the lender.

Judge John Kimbell dismissed several applications filed by property developer Phytos Stavrinides and two of his companies, including a request to delay enforcement of the judge’s decision at the High Court in May to throw out their claim against Bank of Cyprus seeking to compel the bank to write off the debt.

The judge also refused an application for permission to appeal against the judgment, and gave Stavrinides...

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