23rd Jun 2016 12:38
LONDON (Alliance News) - BSD Crown Ltd on Thursday said that its Israeli lawyers received a copy of a motion in which the petitioner asked the Department of the Israeli District Court in Tel Aviv to declare that the company's affairs are being managed in a "prejudicial way" and that its directors have "breached their duties" under Israeli Companies law.
The petitioner also requested the court to make an order preventing BSD Crown and its directors from proposing the appointment of the new directors and the re-election of current directors at a meeting scheduled for July 5.
The court was also asked to prevent the election of Iris Even Tov, Neomi Enoch and Gil Leidner, who the company has nominated as directors. According to BSD Crown, none of the nominees have "any prior connection" to the company or its controlling shareholder.
Also among the requests to the court, BSD Crown said, was a move to prevent the company and its directors from "entering into any contract or agreement, arrangement or undertaking any other transaction regarding the company's assets".
The petitioner also wants to appoint a special executor to investigate the financial position of the company, BSD Crown said.
BSD Crown said it "rejects all claims" made by the petitioner in the motion.
Earlier this month, BSD Crown said it will hold a vote on July 5 for shareholders to decide on proposals seeking to remove all of its existing directors.
The company had received a requisition from a group of shareholders seeking the removal of all existing directors and election of Shmuel Messenberg and Keren Marcus, as well as electing Joseph Williger, Zwi Williger and David Dorin as directors until the conclusion of the next annual general meeting.
Shares in BSD Crown are currently suspended.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
BSD.L