In the air the Aero Center and the € 33 million

Инвестиции CYTA в размере € 33 млн зависли в воздухе: скандал с Аэроцентром продолжается
18 October 2020 Liza Medvetskaya
2952

The CYTA Pension Fund remains with its hands tied with its € 33 000 000 investment in the much-praised and scandalous Aero Center in Dromolaxia, which evaporate day by day in the abandoned multi-storey building. 

The situation from 2014, when the trials and convictions for the scandalous investment took place until now, has not cleared the landscape but is becoming more complex.

The company in which CYTA invested for the Aero Center has mortgaged 70% of the land and the unfinished development for the Pension Fund's benefit. However, 30% remains in the ownership of the Turkish Cypriot Mustafa Mustafa and his heirs. 

Simultaneously, the owner Wadnic Trading has filed a lawsuit against the Pension Fund for compensation of € 4 500 000 since 2014, while the Pension Fund has filed a lawsuit against Wadnic for compensation of € 22 900 000.

There are also some other lawsuits and litigation between third parties and Wadnic and between third parties and the Pension Fund. At the same time, VAT has claimed € 1 400 000 from the same company. In 2019 an application for its liquidation was completed in court.

So, while the last ones who were convicted about this "investment" in 2014, have been released in 2018, the aluminum with the yap of € 33 000 000 is becoming more and more complicated, with the Pension Fund of CYTA, instead of being able to take advantage of the investment, to measure accounting losses from "depreciation already." Of course, which is covered by the obligation of CYTA to cover the deficits of the Fund.

Specifically, according to the data of the Pension Fund of CYTA, the investment from the book value of € 33 434 501 has decreased to € 32 889 000 based according to the calculations of 2017. Within the month, the new impairments are expected to be officially given through reports for 2019.

Инвестиции CYTA в размере € 33 млн зависли в воздухе: скандал с Аэроцентром продолжается

It should be noted that the CYTA Pension Fund in 2016 had decided to terminate the contract and to initiate civil lawsuits for compensation about the investment against legal and natural persons who have violated the interests of the Fund. He also decided to finish the work to complete the project, leaving the multi-storey to become a problem for the area, especially neighboring houses. 

It is also worth mentioning that the unfinished and collapsing Aero Center is located in a residential area and received a construction permit after questionable derogation procedures, which also occupied the court.

Seven years after the revelation of the "Dromolaxia scandal," as it went down in history, the building complex built with money from the CYTA Pension Fund, the Aero Center, remains forgotten. The unfinished building complex haunts an entire neighborhood of Dromolaxia that extends to its south, as it is a gathering place for various people.

"Not only from Dromolaxia but also from the surrounding area. Various people come here. From drug voyages for delivery, users to use on the upper floors that feel safe, to illegal couples. Various people also come to steal. To seize whatever may be useful to them. Aluminum, copper wires. Plugs from the walls. "Everything that could be stolen and everything that still exists, various people come and steal," said the locals of the Aero Center.

However, it is not only these that make the existence of the forgotten building complex problematic. According to residents of Dromolaxia near the complex, especially during the summer months, the area is, without exaggeration, a hatchery of snakes and other reptiles and insects. Shrubs and other wild vegetation have sprouted between the buildings, creating ideal conditions for all these species, resulting in the Municipality of Dromolaxia having permanent hoarseness with the situation that arises through the Aero Center.

Shrubs and other wild vegetation have sprouted between the buildings, creating ideal conditions for all these species, resulting in the Municipality of Dromolaxia having permanent hoarseness with the situation that arises through the Aero Center. But also insects. Shrubs and other wild vegetation have sprouted between the buildings, creating ideal conditions for all these species, resulting in the Municipality of Dromolaxia having permanent hoarseness with the situation that arises through the Aero Center. 

The farmer who was robbed in 2013 of his T / C estate to start constructing the building complex was finally forced to undertake the creation of a supporting embankment on the east side of the remaining estate to protect its greenhouses from possible landslides. Mr. Apostolos Andreou waited in vain for a long time for those who were responsible for solving the problem for doing so. In the end, he made the corrective solution to keep his head calm and to protect his property. 

However, a competent source from the Municipality of Dromolaxia told us, there is a strong opinion in the community that perhaps a solution should be considered, and the building complex should be completed after securing any remaining permits. So that at some point, he can recoup his expense and disappear the unacceptable image and situation he presents today.

The case of Dromolaxia was revealed in 2013, and shortly afterward, the construction works stopped. The trial began on March 13, 2014, with seven people being brought to justice. Two were acquitted, while the other five were sentenced to various prison terms on January 5, 2015. 

Source: philenews.com
Photos: pixabay.com
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