Published On: Mon, Mar 17th, 2014

Beny Steinmetz Appeals To The Israeli Supreme Court Against Langotsky $15 Million Compensation

Beny Steinmetz

Steinmetz has appealed to the Supreme Court against having to pay compensation for 1% of the Tamar field’s value.
Billionaire Beny Steinmetz has appealed to the Supreme Court to overturn last week’s ruling by Tel Aviv District Court Judge Judith Shevach requiring him to pay NIS 50 million (about $15 million) compensation to geologist Dr. Joseph (Yossi) Langotsky. The compensation was for Steinmetz violating an agreement with Langotsky to finance his part of the Tamar gas field exploration drilling.
OIL gas

In exchange for accepting the guarantees, Langotsky’s lawyer Adv. Yossi Segev agreed to provide a temporary injunction delaying payment until the request is decided on. A decision on the matter is expected within 10 days.

A source involved in the case told “Globes, ” “Steinmetz’s lawyers have been instructed to do everything possible to prevent 80 year-old Langotsky from getting the money.”

Published by Globes [online], Israel business news – www.globes-online.com 

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