Appeals Process

In accordance with the Directive on Arrears Management 2015, Gordian Holdings has established an Appeals Committee for the review and handling of appeals in relation to decisions made under the Arrears Management Directive. 

If you are in scope of the Code, as detailed above, and you are unhappy with the handling of your case or the decisions made in relation to your loan under the Arrears Management process, you may request a review of your case by the Appeal Committee. The details on how to raise an appeal are detailed below. Please ensure your give your account number and the details your request.

We will acknowledge you appeal within 21 days of receipt.

The Appeals Committee will review your case in detail, before making their decision. This review may take time, however, the Appeals Committee is required to make a decision within 2 months from the date of receipt of the appeal. The Appeals Committee will provide you with its decision and the reasons for it, in writing.

The Appeals Committee has the right to invite the borrower who filed an appeal for a meeting. Such a meeting may also be arranged at your request.

The Commissioner of Financial Disputes

You have the right to submit a written request to the Commissioner of Financial Disputes Resolution (Commissioner) for the appointment of the Mediator in relation to the restructuring of credit facilities provided that your loan does not exceed three hundred and fifty thousand euro (€ 350.000 ) and is secured upon your main residence (resident owner for a period of at least six months per year).

The application for appointment of the Mediator can be submitted within 14 working days from the day: 

- You submit the "Personal Financial Statement" (PFS) to Gordian Holdings, or
- Gordian communicates to you their decision following the Arrears Management Process (as detailed in steps 1 – 5 above).

The duration of the mediation process shall not exceed 1 month, the cost for the use of the Ombudsman's services does not exceed five hundred euro (€500) and is allocated 80% to the lender and 20% to the borrower.

Contact details for the Commissioner of Financial Disputes Resolution:

ADDRESS: 13, Lord Byron Avenue, 1096 NICOSIA.
POSTAL ADDRESS: P.O. Box 25735, 1311 NICOSIA.
TELEPHONE: 22848900 (central number)
FAX: 22660584, 22660118

- MEDIATION: mediation@financialombudsman.gov.cy
- ENQUIRIES: enquiries@financialombudsman.gov.cy