CPI PROPERTY GROUP – statement in relation to the alleged action filed by Kingstown and other parties

CPI PROPERTY GROUP ("CPIPG") issues the following statement in relation to a lawsuit filed today by, inter alia, Kingstown companies and Investhold against, inter alia, CPI Property Group and Mr. Radovan Vitek in the United States.

CPIPG has not been served with the complaint and, in any event, categorically denies the allegations therein. Moreover, CPIPG does not believe there is jurisdiction over the lawsuit in the United States. As previously disclosed, CPIPG and related entities are currently engaged in litigation initiated by Kingstown in Luxembourg. The filing of the complaint in the United States is merely another attempt by Kingstown to seek inappropriate remedies and to exert unlawful pressure on CPIPG. This new lawsuit is meant to harm CPIPG, and as such, CPIPG will take all appropriate action to defend itself and its shareholders. Additionally, CPIPG will take all appropriate steps to seek relief against Kingstown. It is worth noting that Kingstown was not, at the relevant time, a shareholder of CPIPG, and thus the allegations set forth in the U.S. lawsuit are false, misleading and without merit.


For more on CPI PROPERTY GROUP, visit our website: www.cpipg.com

For further information please contact:




David Greenbaum

Chief Financial Officer




Kirchhoff Consult AG

Andreas Friedemann

Borselstraße 20

22765 Hamburg

T +49 40 60 91 86 50

F +49 40 60 91 86 60

E andreas.friedemann@kirchhoff.de