In News Flash
Egyptian Banks to Israeli Supreme Court: We Have Partial Ownership of "King David" Hotel in Jerusalem
Avi Moshe 23/11/2009 10:11
A group of Egyptian banks has demanded tens of millions of dollars from Israel, claiming that they are partial owners of the King David Hotel in Jerusalem.
The request submitted to the Israeli Supreme Court yesterday states that the banks purchased stock in the hotel 80 years ago, and when the State of Israel was established, they gave their stock to a trustee, who then sold their shares to Israeli investors. That act, claims the Egyptians, was "against the law, and harms peaceful relations between two countries."
The request submitted to the Israeli Supreme Court yesterday states that the banks purchased stock in the hotel 80 years ago, and when the State of Israel was established, they gave their stock to a trustee, who then sold their shares to Israeli investors. That act, claims the Egyptians, was "against the law, and harms peaceful relations between two countries."