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Further suspension of the foreclosures law possible

25/02/2015 13:40
The implementation of the foreclosures law seems that will be suspended for one more month by the majority of the plenary tomorrow.

The bill will be submitted by EDEK. The last suspension given by the parliament expires on March 2.

The reason is because the four bills governing the insolvency framework will not be led to the plenary tomorrow due to the complexity and constitutional obstacles identified.

This is what the MPs members of the House Finance Committee stated.

In a closed-door meeting, the committee members determined the next steps that will be followed and the draft laws that will be submitted either for a total suspension of the foreclosures law or the exemption of the primary residence.

EDEK’s bill seems that it will receive the required majority since it will be backed by AKEL and DIKO and possibly by DISY.

DISY’s bill for the exemption of the main residence until April 3 will be led to the plenary tomorrow, while the Ecologists will submit a bill for an exemption from the foreclosures of the primary residence and small business premises and loans that are before the financial commissioner of up to €350 thousand, until June 1.

Earlier, assistant attorney general Rikkos Erotokritou noted that there should be an amendment of the basic law on foreclosures to change the date of its enforcement.

According to Mr. Erotokritou, the Constitution prohibits in case of an amending law the change of date of its enforcement.

This can be done, he said, only on the basic law and in this case the basic law on foreclosures.

President of the Democratic Party, Nicolas Papadopoulos said that the approval of the four bills on insolvency is a prerequisite for his party to support the DISY bill.

This is something that will not happen tomorrow as the four bills will not be led to the plenary.

According to Mr. Papadopoulos, DIKO will examine all options adding that the parliament requests the cooperation of the government for the law to remain suspended.