A Heated Hearing in the Major Ma’ariv Transaction Lawsuit: Will the Directors Pay NIS 100 Million?

A heated hearing was held this morning in Judge Grosskopf’s courtroom on the settlement agreement that has been coming to pass in the last few days in the derivative claim filed to the court following the botched transaction for the purchase of Ma’ariv. Recently, the parties entered into a mediation process in the presence of the mediator, former Judge Hila Gerstel. During the mediation process, it was agreed that directors’ insurance would pay the Discount Investment Company a sum of NIS 100 million.

Discount Investment Company’s Board of Directors approved the transaction, however, this morning in the court, attorneys Ronen Adini and Ram Dekel, who filed the derivative claim, objected to the settlement agreement. They claim that the directors (essentially their insurance) are to be charged for a higher sum, in the amount of NIS 147 million.

Read the full article in The Marker (Hebrew)

Read the full article in Calcalist (Hebrew)