Eli Reifman is back in jail, after the Tel Aviv District Court today sentenced him to 45 days in jail for contempt of court. He has refused the court order to hand over his shares in Emblaze Ltd. (LSE: BLZ) to the special manager of his assets, Adv. Eitan Erez. This is Reifman's third jail sentence for contempt of court.
Judge Eitan Orenstein said, "Reifman has not shown any progress in locating the shares, which were granted him. It should be emphasized that this is not a case in which the defendant has claimed progress and there is a disagreement between the parties over the value and significance. In this case, there is no dispute that he has not shown any progress on the matter, and Reifman continues to reiterate the already rejected argument that he cannot do anything, while ignoring today's hearing and the court settlements in general."
Judge Orenstein ordered Reifman's incarceration on the basis of Judge Varda Alshech's ruling of September 7, 2009, to send Reifman to jail for 45 days and two additional days for each day that he is in breach of the court order.
Published by Globes [online], Israel business news - www.globes-online.com - on June 1, 2010
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