ECONOMY

Flushing out strategic defaulters

flushing-out-strategic-defaulters

Borrowers who have applied for protection of their main residence through the so-called Katseli law whose case has not yet been heard in court will have to submit their full application again on a special online platform to receive a new court date.

The platform will be connected online with Taxisnet and other databases so that it can be established in real time whether applicants fulfill the eligibility criteria.

The objective is to reveal those who do not meet the criteria but have applied in a bid to earn some time.

Banks estimate that half of the 70,000 pending cases concern strategic defaulters.