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  "documentTitle": "CPI Property Group (CPIPGR)",
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  "authorName": "Muddy Waters Research",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2023-11-21 00:00:00",
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  "notes": "The diagram illustrates the relationship between Radovan Vitek, Marc Gilbert International (MGI), and CPI PG, highlighting the debt settlement.",
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      "text": "CPI PG reported buying CPI Hotels from MGI for non-cash consideration of €44.9 million that was “settled against outstanding receivables”.",
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      "text": "Relationship diagram showing Radovan Vitek controlling MGI and CPI PG, with a transaction flow to CPI Hotels.",
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      "text": "transaction value: €44.9 million",
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      "text": "CPI PG reported buying CPI Hotels from MGI for non-cash consideration of €44.9 million that was “settled against outstanding receivables”. The disclosure did not specify exactly whose liabilities were forgiven, but the party that racked up the debt to CPI PG seemingly would have been MGI or an affiliate. CPI Hotels had a book value near zero at this time.",
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      "text": "1 See next page. 2 CPI PG Consolidated Financials 2016, Pg. 40. 3 CPI Hotels Financial Statements 2016, Czech Business Register.",
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      "text": "MGI (or an Affiliate) Owed CPI PG €44.9 Million",
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