• Sat. Feb 24th, 2024

Challenge to Abramovich’s Assets: Supreme Court Temporarily Halts ZAKA Donation Transfer

ByEditor

Feb 13, 2024
Supreme Court halts transfer of Abramovich’s donation to ZAKA

The Supreme Court issued a temporary order suspending the decision to transfer a donation from businessman Roman Abramovich to the ZAKA organization. Last month, the Tel Aviv District Court ordered Mizrachi Tefahot Bank to transfer eight million shekels to the organization. However, the bank blocked the transfer, citing European Union and Great Britain sanctions against Abramovich’s assets. In response, Abramovich and ZAKA filed a lawsuit against the bank for refusing to transfer their client’s money at his request.

On January 4th, the first hearing in this case took place in the Tel Aviv District Court. Judge Yardena Sarusi expressed a leaning towards the approval of the transfer, describing the bank’s refusal as unacceptable and irrelevant to the nature of the requested transaction. Arguments about European sanctions against Abramovich were deemed inapplicable, as the transfer was to occur within Israel. This ruling will remain in effect until an appeal is completed by Mizrachi Tefahot Bank.

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