19.09.2019 | After four years of intensive litigation and many turns the Supreme Court determined: The Ramat Hasharon Country Club will remain under the municipal ownership, and will not be sold to a well-known real estate developer and controlling shareholder in a public company
The Supreme Court adopted the ruling handed down by President Orenstein in the Tel Aviv District Court, according to which the proposal by the Municipality to acquire the Country Club is the optimal proposal, and was preferential over the proposal of a well-known real estate developer and a controlling shareholder in a public company.
The Country Club was operated by a private company on land owned by the municipality. The private company was facing liquidation and due to that fact, the Municipality and the well-known developer competed for the right to purchase the ongoing activity of the Country Club.
Within the scope of the liquidation proceedings that are being conducted before the President of the District Court, the Honorable Judge Eitan Orenstein, a legal struggle has been taking place between the Ramat Hasharon Municipality and the Real Estate Developer. The struggle focused on the identity of the entity that will acquire the Ramat Hasharon Country Club from the liquidating company: the real estate developer or possibly the Municipality, whose financial bid was somewhat lower than the bid by the developer; but it is most favorable from other aspects. Following an appeal that was filed with the Supreme Court – which returned it for hearing to the District Court for re-examination – the Court upheld the precedent and, contrary to the attitude of the Receiver, confirmed that the property would remain in the possession of the municipality, in order to ensure the welfare of its residents.
After an additional appeal was filed with the Supreme Court and a lengthy hearing was held on the matter, the developer eventually decided to withdraw the appeal.
The Ramat Hasharon Municipality was represented by Adv. Yaniv Dekel, Nir Oren and Keren Iscovitch of the Commercial Litigation Department in our firm.