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Value Base Sues Israeli-Controlled Aya New York Over Unpaid Fees Amid Third BVI Company Dispute
Value Base Underwriting is suing Aya New York and its former Israeli owner Amir Shariki for 11 million shekels in unpaid fees following a troubled bond issuance. Aya New York denies the claims and accuses Value Base of bad faith.
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What happened
- 01Value Base sues Aya New York and Amir Shariki for 11 million shekels in unpaid underwriting fees.
- 02Aya New York denies claims, arguing it owed only 5.3 million shekels and refused to pay Value Base.
- 03Value Base accuses Aya New York's board of negligence and bad faith regarding Shariki's conduct.
- 04This is Shariki's third failed attempt to raise debt in the Israeli capital market via bond issuances.
- 05Value Base alleges Shariki made false promises to investors and pursued secret fundraising efforts.
- 06Aya New York's lawyer calls the lawsuit baseless and a bad-faith attempt to change agreed terms.
The dispute highlights ongoing issues with BVI companies and failed bond offerings led by Shariki.
The coverage
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