Our firm represented Delek Group Ltd. in a motion for a derivative claim on its behalf in the amount of approximately NIS 86 million against its officers. The motion is based on a claim alleging that stock and bonds buybacks made by the company in the period of January-February 2020 are considered an unlawful distribution. Following a hearing at Tel Aviv-Yaffo District Court (Economics Department) regarding a motion for documents disclosure that was submitted in the proceedings, and after the court noted the difficulties in the motion for approval itself (as described in the company’s response), an outline was agreed upon according to which the applicants withdrew from the proceedings without order to pay costs.
Delek Group Ltd. was represented by partners Yaron Elhawi and Ofer Fleischer together with senior associate Noa Even Sapir and intern Yotam Barel.
