Economy
Kozhinov family suing Electra for about a billion shekels, three years after the Migdal Bareket fire
Electra, controlled by brothers Dani and Mickey Zalkin, reported that subsidiary Electra Construction is suing Migdal Bareket-Daniel of the Kozhinov family for about 270 million shekels, and the developer is countersuing for 900 million to a billion shekels. The suits are being heard in arbitration over the luxury tower in the Bavli neighborhood, in which a fire broke out in January 2023 near the occupancy stage and caused many project delays.
· Source: TheMarker. Photo as published in the article
Electra Construction is suing Migdal Bareket-Daniel of the Kozhinov family for about 270 million shekels, and it is countersuing for up to a billion shekels, following the fire that broke out at Migdal Bareket in January 2023.
The fire broke out at Migdal Bareket in January 2023, when the project was already close to the occupancy stage, and caused many delays in construction. According to reports, on Sunday Electra, controlled by brothers Dani and Mickey Zalkin, reported that Electra Construction, its subsidiary, is suing Migdal Bareket-Daniel owned by the Kozhinov family for about 270 million shekels, and that Migdal Bareket is countersuing for an amount of 900 million to a billion shekels. The mutual lawsuits are being conducted in the context of an arbitration process over the project.
Source: TheMarker
