The Archbishopric of Cyprus has secured a court ruling in a case involving the transfer of tens of thousands of square meters of land. The court order dated October 5, 2026, enforced an agreement signed on June 21, 1948, between the Cyprus-based Hellenic Mining Public Company Limited and the Greek company Anonymos Elliniki Etaireia Chimikon Proionton kai Lipasmaton AE.
The Greek company was later liquidated under the administration of the National Bank of Greece SA. Hellenic Mining Public Company Limited was registered in Cyprus on May 22, 1948, to acquire the Greek company’s business. The transaction included mining and quarrying operations on the island, as well as real estate, mineral rights, licenses, plants, equipment, railway lines, power lines, contractual rights, and other assets. In return, the Greek company received 149,993 shares in Hellenic Mining, each valued at one Cyprus pound. The total value of the transaction was about 150,000 Cyprus pounds. For comparison, at the time, a person’s monthly earnings ranged from around 3 to 6 Cyprus pounds depending on the profession.
Why the land transfer took almost 78 years
Although the transaction was completed, not all of the real estate was formally transferred to Hellenic Mining. Most of the properties were transferred to the new owner, but 47 title deeds for plots in Limassol remained unregistered. On January 27, 2012, 64 years after the agreement was signed, Hellenic Mining registered the relevant document with the Limassol Land Registry. On September 8, 2015, the company notified the Greek side that the transfer of several plots had still not been completed and invited its representatives to appear at the Land Registry on January 12, 2016. They failed to appear, after which legal proceedings began.
The situation was complicated by the fact that neither the Archbishopric of Cyprus nor the National Bank of Greece had been parties to the original transaction. The Archbishopric later acquired Hellenic Mining Public Company Limited, while the National Bank of Greece became the liquidator of the Greek company that had signed the 1948 agreement. When representatives of the Archbishopric contacted the bank and asked for the disputed properties to be transferred, it emerged that the bank was not even aware that these assets existed.
Which properties were disputed and why they matter
The court ruling concerns 33 properties that Hellenic Mining, according to the case records, had possessed and used continuously since 1948. The land is connected to mining activity in the Kalavasos–Asgata area. Six mines were located within the relevant mining concession. The plots were used for:
- mineral extraction and exploration work;
- storage of mining waste;
- placement of equipment and machinery;
- construction and maintenance of housing for miners;
- construction and maintenance of roads.
Under the agreement, Hellenic Mining also acquired mining facilities and lease rights for mineral development, including in the Asgata–Kalavasos area. A company witness confirmed that the transferred assets included ore-processing facilities in Vasiliko. Documents were also presented concerning the transfer of plots forming part of the railway line from the Asgata–Kalavasos mines to Vasiliko. In 1979 and 1980, plots associated with the mines and administratively belonging to the village of Ora were transferred to the company. Among the materials submitted to the court were copies of 23 title deeds.
Hellenic Mining’s lawyers, Leonidas Georgiou and Chloe Tofaridou, argued that mining operations continued without interruption after the agreement was signed because the company had acquired the relevant businesses and assets. As a result, the need to formally transfer individual plots arose only in certain cases. One witness also described a meeting in Athens with Louka Katseli, chair of the board of directors of the Greek company.
The meeting was attended by company representatives, the late Archbishop of Cyprus Chrysostomos II, and attorney Leonidas Georgiou. According to the testimony, those present were told that the Greek company no longer held any assets in Cyprus. Katseli suggested that the matter be resolved through the courts and assured them that the company would not object to the transfer of the properties. However, representatives of the National Bank of Greece later failed to appear at the Land Registry to complete the paperwork.
What the Limassol court ruled
The court found that Hellenic Mining had continuously possessed the disputed properties since 1948 and had covered all expenses associated with the use of the mining concession. The ruling also states that if the company decides to resume operations under the Kalavasos–Asgata concession, the disputed plots would be necessary for its activities. As long as they remain registered in the name of the Greek company, obtaining a new mining concession in the area would not be possible.
The court concluded that it had the authority to issue an order for specific performance under Section 7 of the relevant law. Based on the evidence presented, the claimant’s requests were granted.
Court orders were issued for the transfer of the properties. In addition, the court ordered the defendant to pay Hellenic Mining’s legal costs. The final amount is to be calculated by the court registrar and then approved in accordance with the established procedure.