Adv. Ram Caspi, who is representing Nochi Dankner in his battle over control of the IDB group, says that he will consider an appeal against today's decision by Judge Eitan Orenstin in the Tel Aviv District Court to endorse the vote of the IDB Holding bondholders and transfer control of the company to Eduardo Elsztain and Moti Ben-Moshe. Judge Orenstin made his decision conditional upon the outcome of an Israel Securities Authority investigation into Ben-Moshe's sources of finance.
"The regulator's job is to investigate the matter, and responsibility for this cannot be laid upon the court. The judge wisely told the Securities Authority to check," Caspi told Channel 2 News.
Asked how he saw the chances of Dankner continuing to control IDB, Caspi said, "I won't comment on the chances and the risks, that's not my job. As far as the ruling is concerned, I say that the judge acted wisely. The judge's decision is correct. The question of control and sources of capital needs to be investigated; that's a wise decision."
Asked whether he would appeal against Orenstin's decision, Caspi said, "We have time to consider an appeal."
Noam Sharon, legal counsel to the bondholders, said, "There is a sense of achievement in what the IDB bondholders have done in this precedent-setting process. It isn't appropriate to predict events, but in this whole process and the judge emphasized this there is an aspect of great urgency."
Published by Globes [online], Israel business news - www.globes-online.com - on December 17, 2013
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