Page 6 - Ulpan-Or: e-Tone 04-12-16, Advanced Level

E-Tone™: Ulpan-Or Weekly News Digest

Item #1 (Advanced Level)

The Inbal Or Affair

With a still face, Inbal Or accepted judge Orenstein’s decision today to
liquidate her companies. The Judge stated in his decision that the
companies’ conduct was found to be problematic, organizing purchase
groups while mixing buyers’ finances, and drawing funds from the general
account for the major shareholder’s personal needs. As the company is
sent to liquidation, first to receive money are the employees and tax
authorities, followed by guaranteed creditors like the banks, and only then
will be the company’s clients’ turn. At Or City Real-Estate offices today
(they) tried to calm buyers down. Now the [accusing] finger is turned
towards the accountants who accompanied Or as well, the Shtainmetz
Aminoach firm. The Judge stated today that their reports raise questions
and that (you) can’t rely on them. The police investigation continued
today, employees at Inbal Or’s company continued to try and explain the
alleged double apartment sales. Or now intends on appealing the decision,
and try to delay the nearing end of her companies just a little more.

Page 6 - Edition 04-12-16

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