Court imposes restrictions on Or Elovitch in Bezeq probe

Or Elovitch Photo: Eyal Yitzhar

Controlling shareholder Shaul Elovitch's son has been barred from the company's offices

After the parties in a hearing reached agreement that were given the force of a court ruling, Judge Ronit Poznanski-Katz issued an order forbidding Or Elovitch, son of Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) controlling shareholder Shaul Elovitch, to enter the offices of Bezeq and DBS Satellite Services (1998) Ltd. (YES), and to have any contact whatsoever with the officeholders and employees of these companies, for 30 days. The Court permitted the publication of this report from the minutes of the June 21 court hearing.

Or Elovitch is allowed to speak with his wife, a Bezeq officeholder, but not about the investigation. The judge also barred him from attending Bezeq work meetings dealing with the matters under investigation. Furthermore, Or Elovitch will be allowed to speak with his father about matters pertaining to the investigation only in the presence of a lawyer from the Fischer Behar Chen Well Orion & Co. law firm.

The Court also ruled that Or Elovitch would be barred from contacting any of those involved in the affair and leaving Israel in the next 90 days, and his passport would be deposited in the offices of the Israel Securities Authority. He will post a NIS 700,000 bond to guarantee the terms of his release.

For the next month, he will be allowed to participate in meetings of the Bezeq board of directors only by telephone, and will not be permitted to handle matters pertaining to the investigation. Recordings to the meetings will be sent to the Securities Authority.

As for Shaul Elovitch, the Court ruled that he must stay away from the offices of the all the companies in the Eurocom-Bezeq group, and must refrain from contacting members of the Bezeq board of directors and Bezeq officeholders.

The Court also extended the house arrest of Yes CEO Ran Eilon and CFO Michael Neumann.

Published by Globes [online], Israel Business News - www.globes-online.com - on July 6, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

Or Elovitch Photo: Eyal Yitzhar
Or Elovitch Photo: Eyal Yitzhar
Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018