Property battle lost

The international property battle arising out of the collapse of Asil Nadir's Polly Peck empire has finally reached the House of Lords. However, it has ended in failure for four Greek Cypriot companies that had sought to sue the admin-istrators of Polly Peck International in the UK courts in respect of property in the unrecognised Turkish Republic of Northern Cyprus. Their moves were blocked by the Court of Appeal and now that decision has been upheld by the Law Lords.