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      Archive: 2/10/2013
      18:16
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      News Brief

        2/10/2013, Shevat 30, 5773

      Suit Allowed Against Heftsiba Directors and Financiers


      The Jerusalem District Court gave permission, Sunday, for the Justice Ministry's receiver for the bankrupt Heftsiba construction company and his special manager to file lawsuits against Heftsiba's board of directors and financial agents. While a representative of the special manager said the suit will require payment of more than a million shekels from the receiver's fund, the parties were agreed that it was possible to win the suit and obtain holders of the company's debts some of their money.

      The suit claims that the directors and the company's accountants, insurance company and banks did not take the proper actions to prevent the transfer of millions of shekels into companies owned by Boaz Yonah and his father, the since-deceased Mordechai Yonah, if not their private pockets, between December of 2006 and August of 2007. Purchasers of unfinished apartments were among the creditors affected by the bankruptcy.