Electric car venture Better Place liquidators Advs. Sigal Rozen-Rechav and Shaul Kotler today petitioned the Supreme Court to order the buyers Better Place Drivers (EV Net Group) to immediately deposit NIS 1.8 million or another substantial amount, as a pledge against their expenses and their damages to the liquidation's cash reserves, if their request to delay implementation is rejected. The liquidators also asked that the coming into effect of the temporary injunction they obtained be postponed until guarantees are deposited, and requested an order prohibiting the disposing of Better Place's assets.
The injunction was issued at the request of Better Place's liquidators, after Better Place Drivers owner Tsahi Merkur's down payment check was not honored by the bank.
"Globes" revealed that Merkur gave the liquidators a down payment of $508,906 for the acquisition of the company. The down payment was in the form of a check from JPMorgan Chase Bank of the US, amounting to 20% of the NIS 11 million price for the company. The check was delivered to the liquidators on Monday, but they say that the check was anonymous, without any details, including the details of the checking account owner, and an unacceptable form of payment. Consequently, Merkur did not meet the September 30 deadline to make the deposit.
Published by Globes [online], Israel business news - www.globes-online.com - on October 6, 2013
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