Exanet owners to cover employee payments

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Chairman Giora Yaron is due to tell employees about a deal with two of Exanet's shareholders.

Network attached storage solutions (NAS) start-upExanet Inc. co-founder and chairman Dr. Giora Yaron has convened the employees to discuss liquidation of the Ra'anana-based company.

Yaron is due to notify the employees about a deal with two of Exanet's shareholders, Evergreen Venture Partners and Eitan Wertheimer's Microdent Ventures Ltd., under which they will inject additional capital into the company to cover employees' December salaries and benefits.

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Yesterday afternoon, Adv. Erez Haver of Amit Pollak Matalon & Co. filed a request on behalf of the employees to liquidate the company and appoint a temporary liquidator. The application states that the employees want $1 million on the grounds that the company owes them benefits and other payments.

Kreos Capital has also filed a request for the appointment of a receiver for Exanet because of a $10 million loan which the company cannot repay.

Published by Globes [online], Israel business news - www.globes-online.com - on December 9, 2009