Epiktitos wrote:bill cobbett wrote:Epiktitos wrote:Someone can correct me if I'm wrong, but the Orams ruling asserts that the laws of the Republic of Cyprus apply in the occupied north regardless of the ability of the Republic to enforce those laws then.
In this case, the physical location of HSBC outlets is secondary since HSBC is subject to the banking and commercial laws of the RoC. Banks are subject to supervision, reserve requirements, audits, taxation, etc. HSBC is effectively carrying out a banking business in contravention of the laws of the RoC and they can presumably be prosecuted by the appropriate banking or financial regulator just like I would be prosecuted if I illegally operated Epiktitos Bank Incorporated in Larnaca.
My guess is that this line of reasoning applies for any transnational business operating in the occupied north without the necessary license, or that has neglected to pay taxes to the RoC treasury. I suspect that the issue of trespass will become secondary where transnational businesses are concerned.
Yes and an action for violation of banking laws would be a prosecution by the appropriate authority of the RoC but so far the RoC gov hasn't engaged in prosecutions. Would be good to see such a test prosecution.
All the actions to date have been by private individuals (perhaps with the support of the RoC)
Welcome to CF.
Welcome to CF.
Thank you!
It would seem that if the strategy is to turn the screws on the tnucland economy, preventing foreign banks from operating there would be a good place to start. Just going after them for trespass would get them to move premises and pay damages but otherwise continue operating.
Another would be airlines, which given the nature of their business (flying to airports in the EU) would be prime candidates due to the ease of which judgments could be enforced (i.e. seize an airbus when it lands at Gatwick or wherever).
I guess such a move would result in unheard of squealing from the tnucland regime, and an abrupt end to any talks in the near termquote]
"...an abrupt end to any talks..."
And I guess that is what you really want.