By 2013 it held 13.5 million ORCO shares — 12.5 percent of the company — and a seat on its board. The bondholders who took that equity — Kingstown Capital among them, with about €74 million at stake — were betting on a recovery. It said ORCO chief executive Ott and Czech investor Vítek were acting together for their mutual advantage and to the disadvantage of the remaining shareholders. Third, the resulting decline in value would permit him to acquire the remaining ORCO shares cheaply. This would be done through a dishonest and illegal conspiracy between the founder Ott and the marauder Vítek.