12 Apr 2021 11:24
B.S.D. Crown Ltd. - BSD Crown Ltd (The "Company")B.S.D. Crown Ltd. - BSD Crown Ltd (The "Company")
PR Newswire
London, April 12
BSD Crown Ltd.
(The “Company”)
(LSE: BSD)
BSD Crown Ltd (The "Company")
Ramat Gan, 12 April 2021
Further to the announcements made by the Company on June 22, 2018 and January 15, 2019 ("Prior Announcements"), the Company hereby updates the market that Israel 18 B.V., a privately held Netherlands company ("Israel 18"), and Mr. Alexander Avdeev ("Mr. Avdeev", and together with Israel 18, the "Defendants") have been found by the Central District Court of Israel (the "Court") to be in violation of court orders relating to discovery proceedings. In connection thereto, the Court removed the Defendants' statements of defense filed as part of the litigation proceedings described in the Prior Announcements. Further to the above, on March 18, 2021 and March 30, 2021, in ex parte rulings, a verdict in the sum of NIS 173,447,815 (plus indexation differences and interest from the date of the verdict) was imposed against Israel 18 and a verdict in the sum of NIS 164,389,764 (plus indexation differences and interest from the date of the verdict) was imposed against Mr. Avdeev. The Company believes that it is very unlikely that it will be successful in collecting the awarded amounts.
The Company has a lien on 3,500,000 shares of the Company held by Israel 18 in connection with the enforcement of verdicts relating to these proceedings, but to the best of the Company's knowledge, certain of those shares may be subject to other liens in favor of an unrelated third party.
Enquiries: Joseph Williger
Active Chairman of the Board