Civil Case (Tel Aviv) 45944-12-20 Helen Travis v. Global Guardianship Technologies (2010) Ltd. - part 5

And finally, with regard to Shabbat, it is claimed that he is the owner of Global, who founded and owned a binary options organization that also included Global and operated under the name Banc de Binary ("BDB"), it is claimed that until 2012 Shabbat was the only director and director of BDB and in 2012 he also became the CEO of BDB.  It was claimed that Global - which was defined as BDB's marketing department in a proceeding against BDB and Shabbat in the United States - signed an agreement with BDB which was attached to Block 15, which Shabbat signed as BDB's CEO.  The plaintiff also referred to the fact that the building from which Global worked had a BDB sign on it, and Avisror himself saw himself as if he was working for BDB.  It was argued that in light of the aforesaid and in the circumstances as proven in the proceeding, there are clearly circumstances that justify lifting the veil between Global and Shabbat.  With regard to this, the plaintiff first refers to the circumstances of the closure of Global.  In this context, it was claimed that Shabbat admitted that he was the one who made the decision regarding the closure of Global.  It was also claimed that it was proven that at the time of making the decision to close and turn Global into an "empty shell," Shabbat knew, or at least suspected, that its customers might request and be repaid from it.  This is because, in 2016, when Global closed, a judgment was issued in a proceeding against Global and Shabbat, in which a series of remedies were imposed on them, including a ban on continuing to operate in the United States and the restitution of customers' funds in the amount of $7.1 million; Additional lawsuits were filed against Global at the same time in the Magistrate's Court; and Shabbat admitted that in 2017 he paid compensation for a lawsuit in Israel under similar circumstances.  As for the circumstances of Global's closure, the plaintiff refers to Shabbat testimony in which he admitted that Global was closed in preparation for a legislative amendment that outlawed the practice of binary options in Israel.