Alona Bar-On Partners: Acted for the Expropriation of Our Rights in the "House and Roof" Company
Eyal Giclter and Sagi Klein, partners in the real estate business of Alona Bar-On, are asking the court to order the cancellation of discriminatory actions she allegedly took to remove them from the "House and Roof" company? "House and roof" in response: The purpose of the lawsuit - pressure and extortion
Chen Maanit
15/3/17
Eyal Giclter and Sagi Klein, two partners in the real estate business of businesswoman Alona Bar-On, recently filed a lawsuit in the Tel Aviv District Court's Economic Department to order the cancellation of discriminatory actions taken by Bar-On to remove Giclter and Klein from Beit Vegg.
"House and Roof" is a company that manages real estate funds that specialize in the national outline plan for strengthening buildings against earthquakes, known as TMA 38.
Through attorneys Boaz Ben-Tzur and Doron Afik, Gicelter and Klein - in a lawsuit also filed against Beit Vag and Bar-On's partners, Ron Shachar and Zvika Rubinstein - claim that Bar-On "acted violently and unilaterally for the rights of the applicants in the corporation in which they were For years, material partners, directors and senior executives, all while resorting to managerial bullying, complete disregard for the law and the agreements signed by the parties. "
The two plaintiffs are asking the court to order the purchase of their shares in the company following the alleged discrimination, as well as the payment of compensation for the damages caused to them. According to them, "as a result of the conduct of Bar-On, Shahar and Rubinstein, they suffered considerable financial damages, which are estimated, for toll purposes only, in the amount of NIS 6 million."
These damages include, among other things, according to the lawsuit, "compensation for about 4 years of providing services to the company without compensation at the rate of service fees paid to Gicelter and Klein starting in April 2014, in accordance with the services agreements signed.
According to Gitcetter and Klein, Bar-On - which yesterday won the bid to acquire the Globes newspaper and became the controlling owner of "Globes" - carried out the actions after they "opposed Bar-On's takeover of the company and reached a confrontation with it regarding inaccurate reports to investors."
According to the two in the lawsuit, they are partners of Bar-On in the "House and Roof" fund that was established in 2010 and served as senior officials in it. The company, the lawsuit states, was until recently one of the leading companies in the field of urban renewal in the central region and raised ILS 250 million, most of them from institutional investors who invest public funds for dozens of projects in various stages of implementation. Among the investors - Phoenix, Hapoalim Investments, Excellence and Amitim.
According to Gicelter and Klein, in mid-2016 it became clear to them that Bar-On, Rubinstein and Shachar "acted to hide from investors material information regarding the status of several projects, to prevent damage to the company's reputation and allow it to raise a continuation fund." The information, Bar-On unilaterally decided to remove them from the company they established, in an attempt to steal their shares in the company. "
The plaintiffs raise allegations of Bar-On's alleged misconduct, including inflating expenses while concealing essential information from investors, and even to brutally remove the plaintiffs from the company.
According to the claim, "Today, it turns out, Alona Bar-On abandoned the company while devoting itself to managing the struggles for control of the 'Globes' they established, and the 'House and Roof' fund, with all its deposits, remained unmanaged during the crisis."
The plaintiffs note that since the beginning of 2016, discussions have taken place between the parties "on adapting the corporate governance structure in the company to the legal requirements, and for this purpose the company hired the services of several organizational consultants. The consultants' recommendations were to regulate the company's corporate governance on an equal and functional basis. "That Bar-On brought to the company, a dispute broke out between the parties, when Bar-On seeks to assume totalitarian management powers and refuses to implement any advice, recommendation or demand to act as required by law."
The two plaintiffs further claim that as a result of Bar-On's operations, the company's activities deteriorated, to the point of almost cessation and loss of businesses and activities instead of handling projects. "Alona Bar-On has taken on jobs and tasks outside the company's business and is hardly present at it, key people have resigned and resigned, suppliers and contractors are collapsing and stop working with the company, apartment owners in projects are leaving the company and more, all while presenting false representations to investors in the fund." Klein and Gicelter.
It is alleged that in view of the dispute, the organizational consultant, Ofer Levy, chairman of Lotem, hired by Bar-On to help the partners formulate joint agreements, suggested that the parties put forward their position on the correct conduct of the company, and they did.
The plaintiffs presented transcripts of their conversation with Levy, in which Levy said, according to them, that "Bar-On is unable to manage a partnership and does not know how to make a separation between it and the company."
"Beit VeGag" responded that "these are two service providers who have long been found unsuitable to continue providing services for the fund, and have not worked for it for nearly a year. The two have already approached the Lod District Court more than six months ago with similar allegations." Grosskopf, who deleted the procedure and sent the parties to mediation. "
It was also reported from "Beit VeGag" that "unfortunately, despite our efforts to reach an understanding with them in the mediation, the two decided to go to the district court again, where the whole purpose of their move is to make money through pressure and extortion." "Needless to say, the fund's activities continue to lead the field of urban renewal in Israel, while providing the best return for investors and provident fund savers."
Lotem Strategies stated on behalf of the organizational consultant Ofer Levy that "Alona Bar-On approached Lotem to assist in the mediation process between 'House and Roof' and the plaintiffs. This procedure requires building trust, understanding and empathy for each party in the process. Surprisingly, during the mediation process the plaintiffs chose Make use of the calls to promote their moves and record the mediation calls without our knowledge. "
According to Levy, "Moreover, the defendants made negligent and biased use of the statement, while removing it