In a blow to Nochi Dankner, Tel Aviv District Court Judge Eitan Orenstin this morning dismissed a motion by IDB Holding Corp. Ltd. (TASE:IDBH) (filed by the Nochi Dankner-Alexander Granovksy consortium) to defer the results of the vote by IDB bondholders by one day, until Monday, in order to allow the bondholders to change their votes. The motion was filed in view of the letter by Deputy Attorney General Avi Licht, which was published last week during the vote, and which IDB claims was misinterpreted by the media and was therefore liable to affect the bondholders' vote.
"It is doubtful if the motion is relevant," said Judge Orenstin in his decision. "We're at the end of the handing in of the last votes… In view of the timetable, the company should have filed its motion to the court sooner. The motion is dismissed and the vote will be concluded on schedule."
Dankner will reportedly not give up, and he will appeal against the decision to the Supreme Court when the results of the vote are published.
The results of the IDB bondholders' votes are due to be published today. A majority of votes is reportedly in favor of the offer by the Eduardo Elsztain-Motti Ben-Moshe consortium over the offer by the Dankner-Granovsky consortium.
Published by Globes [online], Israel business news - www.globes-online.com - on December 8, 2013
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