Leora Ofer triumphs over brother Doron

The Tel Aviv Family Affairs Court has ruled that Leora Ofer inherits all the Ofer Investments shares of her late father Yuli Ofer.

Leora Ofer has beaten her younger brother Doron Ofer in the battle to inherit the mantle of her later father Yuli Ofer. President of the Tel Aviv Family Affairs Court Judge Tova Sivan has allowed publication of part of the decision in the dispute between Leora and Doron Ofer over the inheritance from their father.

In the ruling handed down several days ago, the judge accepted Leora's claims and declared valid the final will written by Yuli Ofer on November 2, 2008 in which all the shares in Ofer Investments were bequeathed to her and not Doron. Yuli Ofer bequeathed 36% of Ofer Investments' shares.

The judge dismissed Doron's claims that the final will was not valid and that validity should be granted to Yuli Ofer's preceding will in which he divided the shares in Ofer Investments between his two children. The significance of this latest ruling is that Leora Ofer will control 51% of Ofer Investments while Doron Ofer will hold just 15%.

Ofer Investments holds 20% of Mizrahi Tefahot Bank (TASE:MZTF) and controls income-producing company Melisron Ltd. (TASE: MLSR), one of the country's leading shopping mall operators.

Published by Globes [online], Israel business news - www.globes-online.com - on December 26, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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