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Bank to recover TL3.5 million debt from Cloud Construction

7 October 2013

Cloud Construction Ltd is in debt to the bank for over TL 3.5 million debt to the bank, says Turkish Cypriot daily ‘Volkan’.

Apparently the bank has given Temel Bulut, the proprietor of Cloud Construction, 30 days to pay up or face the sale of the assets recorded on the Land Registry, he placed against the loan.

Confusing stories abound about the construction company having to sell off 67 donums of land in Catalkoy to repay his bank debt, followed by an item in the news that Cloud was planning to build a ‘conservative’ hotel on land in Catalkoy.

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