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.
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.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at email@example.com.
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