An electronic auction of a principal residence was recently blocked at the last minute by a Limassol court decision because even the compensation that would have been awarded could not compensate for the mention “family dwelling”.
This is reported by Philenews, adding that the district court had decided that all the conditions of the relevant law had been met for the issuance of a temporary order to suspend the electronic auction planned by another acquisition company. credit.
The importance of this case is the interpretation of one of the conditions of the relevant law regarding the necessity of rendering the requested decree on the grounds that it is difficult or impossible to do full justice in the future.
The position of the defendant company that it is solvent and can compensate the plaintiffs if their legal action is successful, because satisfaction means monetary compensation, was rejected by the court.
She said in her decision: “The concept of full justice is not the same as compensation for property damage only, but it is much broader.
“Therefore, the status of the mortgaged property which, according to the undisputed position of the applicants, is their only residence is subject to the review of the third criterion.