The Tel Aviv District Court rejected an appeal by IRSA, a company controlled by Argentine-Israeli businessman Eduardo Elstein, who insisted it was a foreign corporation and not subject to the jurisdiction of Israeli courts.
Thus, the trial of the claim of bondholders of the IDB holding in the amount of 143 million shekels against Elshtain’s company will take place in Israel.
In 2019, IRSA committed to transfer NIS 210 million to IDB lenders in three tranches, but only transferred one payment.
The IDB holding, controlled by Elshtain, was declared bankrupt in 2020.