"The decision to declare me bankrupt was based on a judicial error"
Former CEO of the now bankrupt Heftsiba Building Development and Investments Ltd. Boaz Yona pled before the Supreme Court that he did not flee Israel at all and that the only evidence to that effect is "baseless media reports."
In his appeal to the Supreme Court over the receivership order issued against him by the Jerusalem District Court, Yona disputed the legality of the order, citing judicial error and procedural matters.
Yona disputed the judge's determination that he fled the country after the collapse of Heftsiba and that this was an act of bankruptcy. Yona noted that no evidence of this had been presented in court and that the judge had made an error in relying solely on reports in the media.
Published by Globes [online], Israel business news - www.globes.co.il - on February 3, 2008
© Copyright of Globes Publisher Itonut (1983) Ltd. 2008