By Poly Pantelides, cyprus-mail
CLASS ACTION lawsuits in the United States against the ‘TRNC’ and HSBC bank will go down in history, American lawyer Athan Tsimpedes said yesterday, outlining the possibilities of such action to Greek Cypriots.
“USA courts are independent and can exercise power unimaginable to the rest of the world,” Tsimpedes said, adding that the US judicial system does not bend to politics.
If the case is successful, the ‘TRNC’ could stand to pay to Greek Cypriots up to ten times the amount originally taken, Tsimpedes said. He used a metaphor of a thief stealing one euro and using it to make a €10 million. Under US law you are entitled to the €10 million, he said.
Talking of the European Court of Human Rights (ECHR), Tsimpedes said it was “acting outside its scope when it ruled that Greek Cypriots should appeal to the so-called compensation committee”.
He was referring to the Demopoulos case on March 1, 2010 when the ECHR ruled that Greek Cypriots should seek compensation from the Immoveable Property Commission (IPC) created in the north before appealing to them.
Tsimpedes likened the IPC to a Trojan horse that Greek Cypriots should avoid. He said it was camouflaged with legality by the ECHR but was not the only route available. Instead, he talked of a legal avenue that overturned the Demopoulos case.
“Since the ECHR has chosen to disregard the rights of Greek Cypriots, Greek Cypriots should disregard the ECHR,” Tsimpedes said.
In addition to punitive damages, HSBC and the ‘TRNC’ face charges of loss of use and earnings, unjust enrichment, loss of personal belongings and a possible injunction to stop the ‘TRNC’ operating as a business, Tsimpedes said.
He is giving a series of talks throughout this week to those who have property in the north.
“We are hopeful,” said an applicant from Morphou who has a pending individual case with Tsimpedes’ law firm. “No one should deprive you your ownership rights.”
