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CPI Property Group: Kingstown Litigation Dismissed
CPI Property Group has confirmed the dismissal of a lawsuit initiated by Kingstown Partners in 2015. This case filed in the Luxembourg District Court involved allegations against CPI FIM and certain board members, with claims increasing from an initial EUR 19.5 million to approximately EUR 238 million.
On October 16, 2026, the Court dismissed all claims, citing insufficient evidence of personal loss by Kingstown Plaintiffs. The Court highlighted the lack of direct correlation between the alleged wrongdoing and the claimed damages. Furthermore, having sold their shares, the plaintiffs lacked standing to contest past corporate decisions.
The Court has ordered Kingstown to cover the proceedings' costs and indemnities. CPI Property Group views the judgment as a robust defense against unfounded litigation, while acknowledging a potential appeal.
R. E.
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