November 25, 2024 14:08 GMT
REAL ESTATE: CPI Property (CPIPGR: Ba1 neg/BB+ neg): Cypriot Court Ruling
REAL ESTATE
Looks like a Negative
- The FT reports that a Cypriot Court has ruled in favour of 2 convicted money launderers who claim that Radovan Vitek swindled them
- CPI is preparing to segregate €537m of assets as a contingency
- Cypriot courts are very slow to act so this process could take a while to play out.
- Bonds do not seem to have reacted much to this:
- CPIPGR 7% Senior -20c; CPIPGR 3.75% Perp -11c currently
Link to FT
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