Partners Ofer Shapira and Batia Barad successfully represented Mr. Ahmed Al Asad (Mayor of Lakia) and Green Traffic Products Ltd. in their request to approve a derivative suit against them by Taiser Abu Kaf regarding Marina Industries Skipjack Ltd., which both Ahmad Al-Assad and Taiser Abu Kaf are partners in.
The request claimed that land purchased by Green Traffic Products (another company owned by Mr. Ahmad Al-Assad) in Idan Hanegev belonged to Marina, and was purchased by Green for the company and therefore the land should be written as belonging to the company.
In the verdict given by the District Court in Beer Sheva, the request for a derivative suit was denied, and the court ruled that due to the dispute between the stockholders in the company, there was no point in a lawsuit in the company’s name. The court also said that there are doubts regarding Taiser’s good faith in submitting the request for the suit, as the suit would not be in the best interest of the company, but rather the lawsuit initiator himself.
