The Court of Appeal has handed down its judgment in the case of Apostolides v Orams. The Court of Appeal has decided in favour of Meletis Apostolides and requires the Orams to demolish their house on Apostolides land in Northern Cyprus. The judgment provides that the Cyprus judgments be registered and enforced in the UK. The judegment included
- Cease trespassing on the land belonging to Apostolides;
- Deliver up possession of the land to Apostolides;
- Pay ‘mesne profits’ (effectively, rent) to Apostolides in respect of the period of their occupation;
- Knock down the villa and fencing built on Apostolides land; and
- Pay certain sums in respect of Apostolides’ costs of the proceedings.
The case is expected to pave the way for hundreds of similar claims against British citizens who bought property in the Turkish-controlled part of the country. Some of the blame could be placed on those agents and developers involved in the sale, particularly if the Brits bought in good faith.
Gross Domestic Product (GDP) increased by 0.1% in the fourth quarter of 2009, compared with a decrease of 0.2% in the third quarter. The rise in output was due to growths in services and production.
This weaker than expected growth brings the UK economy out of recession. The economy had previously contracted for six consecutive quarters - the longest period since quarterly figures were first recorded in 1955.
The UK has been the last major economy still in recession.
The number of homebuyer mortgages approved by banks rose to a two-year high in December, but a continuing lack of remortgaging activity helped keep total lending down.
The figures from the British Bankers Association (BBA) showed 45,897 loans were approved for house purchases during the month, slightly more than double the number approved in December 2008. However, the number of remortgages dropped by 63.3% year-on-year to 23,480. This was mainly due to specialist lenders largely withdrawing from the market and building society finance contracting.
Over the whole of the year, the BBA said its members had approved a total of 980,000 home loans, the lowest figure since records began in 1997 and 27% lower than in 2008.