17.02.2019 | 10.24M$ The battel in Ramat Hasharon was decided
Within the framework of the winding up proceedings before the President of the District Court, Judge Eitan Orenstein, a legal battle was conducted between the Ramat Hasharon Municipality and a renowned real estate properties developer in control of a public company. The battle focused on the identity of the entity to purchase the Ramat Hasharon Country Club from the company (winding up). The real estate developer or on the other hand, the Municipality’s pecuniary bid was slightly lower than the developer’s bid, however was optimal from all other aspects. Following an appeal that was filed with the High Court, which on its part returned the case to the District Court to reexamine the matter – the Court in a precedential manner approved, and contrary to the Liquidator’s position, to leave the property with the Municipality – to guarantee its residents welfare.
This article was translated courtesy of Tomedes Legal Translation.