Our firm represented Zvi Ziv and Uri Paz and the general partner in the Tamuz Fund, in dismissing a lawsuit filed against them by the non-bank financing company Peninsula (its former partner in the management of the fund). The lawsuit sought to cancel the sale of the Tammuz Fund’s loan portfolio to the Michlol financing company (controlled by Ziv and Paz) amounting to about NIS 300 million and to allow Peninsula to purchase the portfolio through pricing. Peninsula even obtained an injunction (ex-parte) against the deal. Following a hearing in the presence of the parties, the Honorable Judge Magen Altuvia in the Tel Aviv District Court (Economic Division) recommended that Peninsula withdraw the injunction and agree to the dismissal of the lawsuit filed by it, which was subsequently done. This also paved the way for the initial public offering (IPO) of the Michlol company at a projected value of approximately NIS 600 million.
The clients were represented by Partners Ofer Tzur (Head of Litigation) and Ofer Fleischer together with Senior Associate Lior Sharabi.
