Nochi Dankner and Yitzhak Tshuva settled the dispute with Pujo Zabludowicz.
The legal battle over the use of the Plaza name in Las Vegas is over. Yitzhak Tshuva's Elad Properties and Nochi Dankner-controlled Discount Investment Corporation (TASE: DISI) and its subsidiary Property and Building Ltd. (TASE: PTBL) have settled with Pujo Zabludowicz's Tamares Group to allow Dankner and Tshuva to use the Plaza name for their planned the $8 billion Plaza Casino and Hotel complex on the Las Vegas Strip.
In a notice to the Tel Aviv Stock Exchange (TASE) yesterday, Discount Investment said, "The parties have reached a settlement, which has been given legal standing, the main point of which is cancellation of the lawsuit." Tamares will forego the right to appeal, effectively giving Dankner and Tshuva the right to use the Plaza name in Las Vegas, while Dankner and Tshuva will withdraw their demand for refund of their legal costs in the case.
Published by Globes [online], Israel business news - www.globes-online.com - on November 5, 2009
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