The key question now is who will be the trustee.
After all the turmoil over Inbal Or and Or City Real Estate, the company she controls, it can now be said that the question is settled. Control of the company will be taken away from Or and given to a trustee subject to the court.
At the end of a dramatic hearing, and following heavy pressure applied by Judge Eitan Orenstein, Or announced her consent to a stay of proceedings and the appointment of a trustee for the company named after her. Orenstein gave Or until tomorrow to file her own request for a stay of proceedings.
The key question now is who will be the trustee: representatives of Mizrahi Tefahot Bank (TASE:MZTF), representatives of the apartment buyers who petitioned for the stay of proceedings, or Or's own representatives? Another question concerns the direction of the case: whether the company will be liquidated, or a deal made with some third party that will make it possible to maintain the company as a going concern.
Published by Globes [online], Israel business news - www.globes-online.com - on March 23, 2016
© Copyright of Globes Publisher Itonut (1983) Ltd. 2016
Inbal Or