The Tel Aviv District Court rejected the Saban Group’s request to file a response against the reaction of Hutchison’s receiver in Partner, Adv. Ehud Sol, ahead of the court hearing tomorrow (Monday). The Saban Group applied to the court last Friday to respond On the remarks of Sol, who claimed that the Saban Group knew about the procedure he was conducting to find an investor and even attached an affidavit of Saban Adam Chezenoff’s business manager.
As stated, the request was rejected and now the parties are awaiting a hearing tomorrow in which the Saban Group’s request to stop the deal signed with the Rodev-Gabay Group and hold a tender for the shares will be discussed.
The Saban Group claims that the receiver’s response is laden with factual details that were not supported by the affidavit. Of all of them, the most notable is the factual claim that Saban and its executives knew and agreed that the pledged shares would be sold without due process. According to the group, these things have no dawn.
It was further alleged by the Saban Group that the agreement in question was limited to a limited period of nine months and only to a debt swap deal with Hutchison. It was expressly agreed there that after this period the receiver is committed to an objective, reasonable and transparent procedure in order to maximize the sale proceeds. Regarding the receiver’s statement that Meitar’s office represents some of those interested in the shares and therefore this is proof that the Saban Group, which is also represented by it, knew about the contacts that were conducted and did not object to them, Saban claims that Meitar’s office does not transfer information from one customer’s files to another customer’s , And does not update its customers on what is happening in the files of other customers.
The main argument of the receiver that the Saban Group is trying to attack in the hope of holding a tender for the shares, for reasons that are not entirely clear, is that the decision on the identity of the buyer and the price is up to him. . This is because the group has deposited a full guarantee on the entire amount, waived the due diligence process, and the chance of getting a regulatory approval for the transaction is very high.