On Thursday, the Honorable Judge (retired) Boaz Okon ruled in the dispute between our clients, Yair Rabinovitch (former Income Tax Commissioner) and Doron Sagiv, against Ephraim Sorka, the subjects of a large-scale arbitration concerning the purchase of real estate in Israel, worth hundreds of millions of NIS.
The arbitration process has spanned approximately 13 years, with dozens of witnesses called and a protocol extending tens of thousands of pages. The arbitration award itself spans five volumes, approximately 900 pages.
Rabinovitch and Sagiv demanded their rights be upheld with respect to assets acquired, in part 44% and another, 30%. The opposing party sought to deprive them of their rights to the assets and simultaneously filed a tort claim of approximately NIS 1 billion.
Ultimately, Rabinovitch and Sagiv's rights were acknowledged, albeit somewhat reduced (44% was reduced to 35%), and the tort claims were rejected.