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Next Issue Monday
13 September 2010
Featured Events
- CoreNet Global Summit
27-29 September 2010
London, UK
- Commercial Real Estate Finance Council Europe
25-26 October
London, UK
- MAPIC 2010
17-18-19 November 2010
Cannes, France
Orco shareholders call for replacement of CEO Ott
A group of disgruntled shareholders in troubled CEE listed developer Orco Property Group has called for the replacement of chairman and founder Jean-Francois Ott. Former Paris commercial court president Jean-Pierre Mattei represents the group, which owns over 10% of voting rights. Mattei has called for a shareholders meeting to oust Ott for failing to cut Orco's debt of over e1.6bn. The group wants to cut debt by at least 25%.