Moti Ben-Moshe
Nochi Dankner today petitioned the Tel Aviv District Court
to append "new and supplementary" evidence about the sources of
capital of Moti Ben-Moshe, which was not included in the material sent to the
court-appointed investigative team into Ben-Moshe's business.
That material,
which was submitted to Tel Aviv District Court Judge Eitan Orenstin a month
ago, is still confidential.
Dankner's petition is co-signed by Black Cube Ltd. VP Avi
Yanus. Dankner hired Black Cube to investigate Ben-Moshe; the investigation is
ongoing.
Yanus's affidavit states that, in September 2013, Germany's
Federal Network Agency (BNetzA) opened an investigation into Ben-Moshe's energy
business in the country, which is handled through ExtraEnergie GmbH.
"The
investigation's purpose is to clarify whether ExtraEnergie is a company with a
commercial logic and capabilities to its business. It should be noted that such
an examination is an extremely rare and extraordinary step, reserved for extreme
cases. This investigation indicates very serious suspicions about the conduct
of Extra Holding and ExtraEnergie," Yanus states.
Yanus's affidavit is apparently based on reports in late
September by "Der Spiegel" and a popular television station WDR that
BNetzA had opened an investigation against electricity suppliers ExtraEnergie
and Almado AG.
They claim that if the investigation finds any flaws in the
business and administrative structure of the companies, BNetzA has the
authority to suspend their operations in Germany.
Furthermore, Yanus says that a review by Bird and Bird,
signed by a German lawyer, Manfred Ungemach, an expert in the German energy
market, found, "ExtraEnergie operates with a lack of financial logic and
is at serious risk of financial collapse." The company's activity in
Germany "is a problematic financial pyramid."
Ungemach adds that ExtraEnergie's cash surplus is not enough
to cover its liabilities to customers and suppliers, even before investing €115
million to acquire IDB Holding Corp. Ltd. (TASE:IDBH).
Commenting on BNetzA's
probe, he says, "This is a very extreme process in the Germany market,
which is liable to result in the liquidation of the company, and in case of
insolvency, control and management would be taken from the company's current
managers and transferred to a German liquidator."
The affidavit says that Ungemach headed a group of lawyers
which assisted the liquidation of TelDaFax, the largest liquidation to date in
Germany's energy market.
"There is no doubt that the need for achieving true
diligence, protection of the creditors, as well as strengthening these
interests when the business of Israel's largest company is involved, requires
in our opinion the appending of the serious evidence that has been revealed,"
says Dankner's attorney, Adv.
Shmuel Cassouto. He adds, "The petition in
and of itself, as well as the immense efforts behind it, are worthy of a full
response in the name of law and justice.
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