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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": "2024-05-29 00:00:00",
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  "notes": "The slide uses a disclosure excerpt to support the narrative of a related-party transaction involving Radovan Vitek.",
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      "kind": "callout",
      "text": "Below: CPI PG's disclosure of the 1 Bishops Avenue Acquisition",
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      "text": "1 Bishops Avenue Limited. On 13 December 2018, the Group acquired 100% share of 1 Bishops Avenue Limited... The purchase price of the apartments was GBP 60.1 million...",
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      "text": "CPI bought 1 Bishops Avenue Limited ('1BAL') from Radovan Vitek for £1 on Dec 14, 2018 as part of a disclosed related party transaction. When CPI PG acquired 1BAL, it was an empty holdco. On Dec 17, 2018, 1BAL acquired 11 luxury apartments.",
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      "text": "1 CPI PG 2018 MR, p. 146... 2 CPI PG 2018 Management Report, p. 100... 3 UK Land records shown an acquisition price of just £55.9 million...",
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      "kind": "title",
      "text": "CPI PG Purchased 11 Buxmead Apartments",
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