PRAGUE, Sept. 22, 2020 /PRNewswire/ -- On Sept. 4, 2020, the United States District Court for the Southern District of New York (the 'New-York Court') dismissed all claims against Jean-François Ott brought by Delaware and Cayman Islands "Kingstown funds"[i], as well as Marshall Islands Investhold Ltd and Cyprus Verali Limited ('the Plaintiffs').
The New-York Court ruled that Luxembourg is the adequate forum for resolution of the Plaintiffs' claims and referenced the substantial similarities to the lawsuit filed before the Commercial Court of Luxembourg by three of the Kingstown plaintiffs back in January 2015, from which Jean-François Ott was already dismissed in June 2019.
As of today, there are no pending proceedings against Jean-François Ott.
Jean-François Ott was the founder of Orco Property Group and is the Chairman of investment companies Ott Partners, Ott Ventures and LOP Urban Logistics Fund.
When asked about the ruling, Jean-François Ott declared: "I was always confident that the claims against myself had no merit. I trust that this new positive outcome shall be able to clear my name and reputation."
[i] Kingstown Capital Management LP, Kingstown Partners Master Ltd, Kingstown Partners II LP, Kingstown Capital Partners LLC
SOURCE Ott Partners