OPG to oppose an action filed by Kingston Partners, Kingston Partners II and Ktown
Orco Property Group, S.A. („the Company") announces that on 20 January 2015 it was served
with a summons containing legal action of the three companies namely Kingstown Partners
Master Ltd. of the Cayman Islands, Kingstown Partners II, LP of Delaware and Ktown LP of
Delaware (together referred to as „Kingstown"), claiming to be former shareholders of the
Company. The action was filed with the „Tribunal d´Arrondissement de et a Luxembourg" and
seeks a condemnation of the Company, CPI Property Group and certain members of the
Company´s board of directors as jointly and severally liable to pay damages in the amount of EUR
14,485,111.13 and compensation for moral damage in the amount of EUR 5,000,000. According
to Kingstown´s allegation the claimed damage has arisen as a consequence of inter
alia alleged violation of the Company´s minority shareholders rights.
Management of the Company will take all available legal actions to oppose these allegations in
order to protect the corporate interest as well as the interest of its shareholders.
For more information visit www.orcogroup.com
Přiložený dokument ke stažení
Press release (ENG)
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