In response to the property market's weakness, the government has tried aggressive resuscitation, including a discount on land-registry transfer duties.

WSJ: A Bright Spot in Cyprus

During his tour of duty in Afghanistan, Gen Allen, 59, managed the transfer of security duties across much of the country to the Afghan army and police.

BBC: US General John Allen. File photo

The court further held that the transfer was fraudulent and that he had breached his fiduciary duties to the debtors.

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