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Provider: GlobalData

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D Medical Industries Ltd To Continue With Creditors' Settlement; Former CEO's Opposition Turned Down By Court; Former CEO Demands ILS 270,000 For Due Salaries, Unreturned Loan And Alleged Damage

Monday, 9 Sep 2013 07:13am EDT 

D Medical Industries Ltd (D Medical) announced the decision of Tel Aviv District Court, presided over by Judge Eitan Orenstein, regarding the proposed settlement with the Company’s creditors, of October 26, 2011, and regarding Ms. Orly Benizri’s motion of opposition to it. Judge Orenstein turned down Ms. Benizri’s motion on the grounds that her allegations are to be discussed during the creditors’ meeting, and her financial claims are subject to its approval. Judge Orenstein added that liquidation is the correct step for the Company. Ms. Orly Benizri served with D Medical between February 19, 2013, and April 24, 2013, providing full-time services as the Company's Chief Executive Officer, however, through her own company. Ms. Benizri alleges that the proposed creditors’ settlement abounds in liable statements, and continuously lacks in accuracy and fidelity, and that D Medical’s shareholders attempt to shake off their responsibility for the Company’s mismanagement and debts, in order to acquire its assets, at the lowest possible price. Additionally, Ms. Benizri claims ILS 270,000 from D Medical, including ILS 120,000 for her due salaries, ILS 50,000 for a loan to D Medical, and ILS 100,000 for the damage caused to her other activities and obligations with her own company, due to her involvement with D Medical. 

Company Quote

-0.6 -0.72%
21 Aug 2014