BREAKING NEWS

Better Place liquidators receive emergency court meeting, hoping to rescind deal

AUGUST 23, 2013 00:29

Just six weeks after the Green EV consortium acquired the assets for Better Place, the fallen electric vehicle company's liquidators have requested an emergency court meeting on Sunday to rescind the deal.

Upon declaring bankruptcy on May 26, Better Place had less than $9m. cash on hand, and had been taken on by liquidators Sigal Rosen-Rechav and Shaul Kotler. The Green EV consortium, led by American-Israeli solar entrepreneur Yosef Abramowitz, won both the operational and intellectual property at the Central District Court on July 10, for a total of NIS 18 million and NIS 25m. respectively. At Rosen-Rechav and Kotler’s request, the court will now convene in Lod on Sunday at 12:30 p.m., in order to determine the future of the deal.

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