The Supreme Court today ruled that documents from the arbitration between the government and Israel Chemicals Ltd. (TASE: ICL) unit Dead Sea Works over the company's royalties from the use of a national resource will be disclosed to the public. President of the Supreme Court Asher Grunis, Judge Elyakim Rubinstein, and Judge Zvi Zilbertal dismissed Dead Sea Works' appeal against the July 2013 ruling by the Court of Administrative Affairs
The Supreme Court ruled in favor of the Israel Union for Environmental Defense and Movement for Quality Government in Israel that the minutes of the arbitration hearings should be published. The court also ordered Dead Sea Works to pay NIS 60,000 in court costs to the two NGOs.
In August 2012, the Union for Environmental Defense and the Movement for Quality Government asked the Ministry of Finance for the documents in its arbitration with Dead Sea Works regarding the formula for calculating the company's royalties. The ministry agreed, but the company appealed against the decision with the Jerusalem District Court to prevent the publication of the documents. In July 2013, the court dismissed Dead Sea Works' appeal, saying that this was not a private case, but one with a clear public interest.
Published by Globes [online], Israel business news - www.globes-online.com - on February 19, 2014
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