Tkuma Carlebach-Mendel, the daughter of Dr. Azriel Carlebach, the founder and first editor of Hebrew daily "Ma'ariv", is suing the newspaper for NIS 5 million. In a letter to the newspaper, she claims that she is owed the money for her special shares in Ma'ariv Holdings Ltd. (TASE: MARV-M).
The latter states that a 1995 ruling validated a settlement between Carlebach-Mendel and Ma'ariv, under which she agreed to convert her shares into deferred shares in exchange for various payments, including a fixed monthly sum. However, the most recent payment was only a third of the normal payment, apparently due to Ma'ariv's deteriorating condition, and Carlebach-Mendel claims that there is real concern about the continued performance of Ma'ariv's financial commitment to her.
Carlebach-Mendel, 69, is therefore demanding that Ma'ariv immediately pay the full NIS 5 million of the financial commitment.
In a separate development, "Ma'ariv" employees will hold a union meeting tomorrow morning at which Histadrut chairman Ofer Eini will update them on the steps the Histadrut (General Federation of Labor in Israel) has taken so far and their options.
"Ma'ariv" employees are planning to hold demonstrations in the coming days outside the homes of the newspaper's current and future owners and decision-makers. A demonstration is scheduled for 5 pm outside the home of former controlling shareholder Ofer Nimrodi, who still owns the newspaper's premises, Beit Ma'ariv, through Israel Land Development Company (TASE: ILDC) and shares in Ma'ariv Holdings. The Journalists Union said, "A deal that does not include the full protection of the workers' rights will simply not be honored."
Published by Globes [online], Israel business news - www.globes-online.com - on September 12, 2012
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