CA Immo has taken the decision to bring an action for damages against the Republic of Austria and the Province of Carinthia for unlawful and culpably biased influence on the best bidder procedure in the context of privatization of the Federal Residential Property companies in 2004 and for the unlawful failure to win the best bidder procedure.
Financial advisory group Rothschild & Co. was sued in New York for allegedly helping Radovan Vitek, the majority owner of CPI Property Group, secretly acquire controlling shares in Orco Property Group. Kingstown, a New York hedge fund, is claiming €1 billion of damages for the alleged fraud. CPI Property Group and Radovan Vitek deny the allegations and claim that the New York lawsuit is baseless and has no merit.
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