Czech Billionaire’s Property Firm Seeks End to Fund’s Suit
- Radovan Vitek is accused of running a $1 billion fraud scheme
- CPI Property Group wants judge to toss Kingstown Capital suit
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Czech property billionaire Radovan Vitek’s company said the New York hedge fund accusing him of a $1 billion fraud is wrongfully attempting to apply U.S. racketeering law to businesses that operate overseas.
Vitek’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.