Bank Leumi (TASE: LUMI) president and CEO Galia Maor has hired top lawyers David Libai and Zvi Agmon to represent her the High Court of Justice hearing on the petition filed by Ometz - Citizens for Proper Administration, Judicial and Social Justice against the intention to appoint her as chairwoman of the bank.
On Friday, High Court of Justice Judge Ayala Procaccia ruled that the respondents will submit their statements of response, including a request for a temporary injunction to prevent the further steps in the appointments process, before the court rules on the petition, by the end of this week,.
Last Wednesday, Ometz petitioned the High Court of Justice against the intention to appoint Maor as chairwoman of the bank. The petition includes an opinion by Ministry of Finance legal counsel Yoel Briss, seconded by Deputy Attorney General for economic and fiscal affairs Avi Licht. Ometz asserts that this opinion "explicitly states that the bank's appointments committee cannot choose Galia Maor as a director at the bank, because she does not meet the criteria of the banking appointments law." This law stipulates, "No person will be appointed as an outside director who, at the time of the appointment or during the two years preceding the appointment, has an affiliation to a company with working, business, or professional relations in general, or control, or served as an office holder."
Published by Globes [online], Israel business news - www.globes-online.com - on February 7, 2010
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