Representation of a Mortgage Bank in Class Action Suits

Our firm has successfully represented a mortgage bank in several class action suits filed against it.

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Our firm has successfully represented a mortgage bank (now merged into one of Israel’s largest banks) in several class action suits filed against it. One such claim was filed in the Tel Aviv District Court by the widow of one of the bank’s borrowers, in the amount of ILS 75 million. Following the borrower’s untimely death, his life-insurance paid off the mortgage. The plaintiff claimed that in these circumstances, the bank acted unlawfully when it charged a commission on account of the early repayment. The plaintiff claimed that the bank is authorized to charge such commission only in cases where the early repayment was made willfully. The District Court rejected the claim and an appeal to the Supreme Court of Israel was recently dismissed.
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