Kingstown, the former minority shareholder in Orco, sues Orco Property Group and CPI Property Group in Luxemburg, demanding CZK 540m(€19.5m) in compensations for what it calls moral detriment. Kingston says that its rights as minority shareholder were violated.
Kingston was struggling to prevent the take-over of Orco by the CPI PG owner Radovan Vítek. It did not succeed and Vítek gained control of the board last year.
