Ometz: The appointment contravenes the cooling-off period mandated by the Banking Law.
Watchdog group Ometz - Citizens for Proper Administration, Judicial and Social Justice today petitioned the High Court of Justice against the Wallerstein committee, which appoints the appointments committees at the banks, including Bank Leumi (TASE: LUMI), as well as against Minister of Finance Yuval Steinitz, Attorney General Yehuda Weinstein, and Supervisor of Banks Rony Hizkiyahu. Ometz is asking the court to void the recommendation to appoint Bank Leumi president and CEO Galia Maor as a director of the bank, because the appointment contravenes the cooling-off period mandated by the Banking Law.
Ometz also asked the High Court of Justice to issue an injunction against bringing the recommendation of Maor to Bank Leumi's general shareholders committee, until after the court rules in the case.
Published by Globes [online], Israel business news - www.globes-online.com - on February 3, 2010
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