My 2005 K12 also suffered from the same problem, just 40 miles after closing the private deal. The official dealer quoted 2300 Eur for replacing the steering column. Unacceptable.
I ordered a little thingy that is supposed to be the Chinese copycat of the Nissan Consult II, in order to be able to clear the fault code at no marginal cost (google for "Nissan N607" and you will find it easily). It was a 100 Eur investment which I considered to be fair even if there was no online evidence that this could actually work as expected.
Well, it turns out that it worked perfectly! Received the handheld unit, plugged it into the OBD connector, ran automatic diagnostic, cleared the code, and the PS came back! It took me less than a minute to fix event without any prior knowledge about how to do it.
But here is the aftermath. Apparently there are two major fault modes in the PS of the K12's. One is a proper malfunction of the electrical engine, which can only be fixed by replacement. The other is random CAN communications error of the module in the PS, which is non critical and can be cleared without problems. The error diagnostic report clearly reported the latter. So far I have driven about 500 miles for the last 2 months and the problem has not come up yet. The unit is very compact, so it fits conveniently under the passenger's seat. On top of this, you also have a great diagnostics tool to have good situational awareness before taking your chances at the dealer's garage.
I really hope that this trick solves most of the cases that have been presented here, particularly in these days of financial hardship.
Best
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