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The District Court rejected Discount Bank’s request for outright disposal in a lawsuit filed by Privat Bank
In the claim filed by PrivatBank against its former owners, as well as against Israel Discount Bank and other defendants, it is argued that by acts of fraud, misappropriation, and money laundering, funds totalling in excess of $1.2B were misappropriated from PrivatBank, transferred to Israel, and deposited in a bank account held in Discount Bank.
The Court denied Discount Bank’s argument that the claim should be summarily dismissed due to the statute of limitations and absence of cause of action. The Court also denied Discount Bank’s argument that the proceedings in Israel should be stayed until other claims brought by PrivatBank against its former owners and other defendants in other jurisdictions, such as England and the USA, have been determined.
PrivatBank is represented by partners Giora Erdinast, Tomer Weissman and Efrat Rosner, with Adv. Almog Gil-Or, Yael Zeira, John Alkalak and intern Jonathan Hasdai.
