The Ayalon Freeway company has been ordered to pay about Herzliya and Kfar Shmariyahu landowners compensation for causing a reduction in the value of their properties.
By MIRIAM BULWAR DAVID-HAY (TRANSLATED)
The Ayalon Freeway company has been ordered to pay about 300 Herzliya and Kfar Shmariyahu landowners compensation to the tune of $10.5 million for causing a reduction in the value of their properties, but the company is refusing to pay up and the landowners are threatening to sue the directors personally, reports www.local.co.il. The Tel Aviv district appeals committee ordered the company to pay the compensation immediately some four months ago, saying the properties had lost value as a result of work done to the freeway nearby, but last week the company said it had no money and would not pay until it receives funds from the Transportation Ministry.
"The company has no money and is unable to pay the sum decided upon as compensation until it is transferred its budget from the Transportation Ministry," company lawyers wrote to the landowners. The report said the landowners' lawyers responded with a warning that they would act to break up the company and sue the directors personally if the money was not paid by the middle of October. The lawyers pointed out that the company directors bore personal responsibility for ensuring that the committee's orders were carried out.
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