Our firm represented a group of 178 private buyers who purchased the rights for hundreds of office units in the ‘My Office’ project in Ashdod. Our firm applied to the court on their behalf with a motion for an order to initiate proceedings against the company, Psagot Israel, owned by Shimon Eisenberg and Hezi Chaim, and to appoint a temporary trustee to prevent the company’s assets from being removed.
The motion claimed a concern that approximately NIS 150 million, which had been paid by the purchasers, had gone down the drain. Essentially tens of millions of shekels had either disappeared from the Project’s trust account or have been improperly used. In any case, the project has not yet been completed despite having passed the occupancy date.
The Court allowed the Motion and issued injunctions against the company and against its managers.
The purchasers are represented by the head of the Litigation Department, Ofer Tzur, together with the partner, Daniel Lasry and Adv. Daniel Cohen.