Full coverage· Politics· Updated
Israeli Companies Face Legal Battles Over Independent Director Appointments
A legal battle over the appointment of independent directors has concluded at Israeli infrastructure firm Everate following a Supreme Court decision, but continues at real estate company Poligon. In Everate, Gabi Magnezi's appeal to block Ayelet Nachmias-Verbin's appointment was rejected, allowing her to serve.
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What happened
- 01The Supreme Court rejected Gabi Magnezi's appeal, allowing Ayelet Nachmias-Verbin to continue as an independent director at Everate.
- 02Everate has been involved in a prolonged dispute between its former and current controlling shareholders over director appointments.
- 03Real estate company Poligon has operated for over 14 months without independent directors, violating the law.
- 04Poligon is engaged in a legal battle with minority shareholders over the appointment of independent directors.
- 05Serious allegations of improper motives and neglect of duties have been exchanged between parties in the Poligon case.
- 06Poligon faces accusations of delaying a lawsuit against Nitzba due to conflicts of interest involving its controlling shareholder.
At Poligon, the company is operating illegally without independent directors for over 14 months due to disputes between controlling shareholder Kobi Mimun and minority shareholders, with serious allegations exchanged in court.
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