Gaydamak claims ill health keeps him in Russia

Arcadi Gaydamak is asking the Tel Aviv District Court to cancel the foreclosure of his son's assets.

3 November 09 17:17, Yitzhak Danon

For the first time, Arcadi Gaydamak has given a reason for leaving Israel last December. He denies reports that he fled Israel to evade his debts, claiming instead that he is residing in Russia for reasons of health. He says that a heart condition prevents him from travelling to Israel. "Under the circumstances, it is no longer possible to say that Gaydamak is a 'fugitive' from Israel," he said.

Gaydamak made the claim in his statement to Tel Aviv District Court in response to a request by his son, Alexander, to cancel ex parte foreclosure orders on assets in his name. The assets involved are lots in Tel Aviv and Herzliya. The orders were issued as part of the claim by Yossi Willi Management and Investment Ltd., owned by Yossi and Zvika Williger, against Arcadi Gaydamak for non payment of a loan.

Gaydamak noted that, due to his poor health, the settlement by arbitrator in his dispute with Uri Shani, Adv. Ami Osnat, was conducted in Russia a few days ago. Gaydamak said that if he were healthy, he would not have had the arbitrator come to Russia for the arbitration, and would not have responded to his request to hold an evidentiary hearing in Russia. He said that he had to avoid long flights.

Gaydamak is asking the court to cancel the order which extended the foreclosure to the assets of his son, on the grounds that there are no links between these assets.

Published by Globes [online], Israel business news - www.globes-online.com - on November 3, 2009

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