Former Partner Sues Arie Steimatzky Over Alleged Secret Property Seizure in Europe
A severe dispute between former Steimatzky owner Arie Steimatzky and his European real estate partner Avihou Efrat has escalated to court. Efrat is suing Steimatzky and the company "Amos and His Daughters Investments and Properties," alleging that Steimatzky unlawfully deprived him of his share in their joint company. The lawsuit does not specify a monetary amount but seeks declaratory relief and injunctions to reverse the transfer of shares Steimatzky executed.
The partnership lasted about 16 years, with Steimatzky holding 85% of the shares and Efrat 15%, managing and developing residential real estate projects in the Czech Republic and Slovakia. Steimatzky provided the capital, while Efrat managed the projects. The company developed a Prague residential project nearing completion and a new project in Bratislava. Efrat claims that after Steimatzky's daughter Ella became involved, Steimatzky began making unfounded accusations against him, leading to hostile communication.
In May 2026, while negotiating a separation agreement, Efrat alleges that Steimatzky secretly executed a "vile theft plan" by selling the Prague project to a Cyprus-based company he fully owns for a nominal amount and transferring the Slovakian project for a fraction of its estimated value. Concurrently, Steimatzky removed Efrat and the Czech project director from their positions, appointing an outsider to control company funds. Efrat accuses Steimatzky of severe misconduct, including possible money laundering through foreign shell companies.
Steimatzky acknowledged restructuring the holdings due to dissatisfaction with management but cynically promised Efrat his 15% economic rights only after deductions at Steimatzky's discretion. Efrat rejected this, calling it theft of solid property rights. He demands restoration of the original ownership structure. Steimatzky's representatives deny the claims, asserting all changes were lawful and funded by Steimatzky's capital, expressing confidence the lawsuit will be dismissed.
