Wednesday, 21 October 2020

Czech billionaire's property firm seeks end to fund's suit

Bloomberg |
12 September 2019

Czech property billionaire Radovan Vítek's company said the New York hedge fund accusing him of a USD 1 billion fraud is wrongfully attempting to apply U.S. racketeering law to businesses that operate overseas. Vítek's CPI Property Group, the largest commercial property landlord in Berlin, said Tuesday in a New York court filing that a lawsuit by Kingstown Capital Management should be tossed out because it was filed too late and overlaps with claims already made in a case pending in Luxembourg since 2015.