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The Litigation department of our office filed on behalf of two shareholders of Bank Mizrahi legal proceedings on August 9th, 2023, against the Bank (22246-08-23 Netzer v. Bank Mizrahi) in the District Court in Tel Aviv (Economic department).
The case is a request for discovery of documents, which is a preliminary request for a derivative claim.
The application claims that the bank authorized mortgage holders to declare income in amounts higher than their legal income, while committing many offenses, on the lines of the provisions of the Anti-Money Laundering Law.
This activity caused substantial damage to the state authorities and created a series of risks for the bank, including exposure to the extent of hundreds of millions of NIS, risk of imposing sanctions, risk of losing the bank’s license, and more.
The request was submitted by two shareholders in the bank, who are represented by attorney and founding partner Ofer Furth, partner Eli Shimon, and attorney Idan Yaloz from our Litigation department.
