The Pearl Hotel in Jerusalem: To charge the developers NIS 20 million

Claim that the developers of the hotel, Nachshon and Elitzur Dryman, carried out illegal activities that led the hotel to a debt of $ 45 million, most of it to Discount

Samuel Daklo 15.01.2007, 16:18

The joints of the Dan Hotel in Jerusalem require the Jerusalem District Court to charge the developers of the hotel with compensation of more than NIS 20 million. Yair Green, Yaron Feinstein, and Nitzan Shmueli argued that the developers of the hotel, the Nachshon brothers and Elitzur Dreiman, carried out illegal activities that brought the hotel to a debt of $ 45 million, most of it to Discount Bank .

The parties claim that they are in the process of selling the property, with the requested payment at $ 20 million, and after the sale, the debts will amount to $ 25 million.

The difference is asked by the Draiman brothers, who set up the hotel through a foreign company incorporated in Illinois.

The hotel, which has 88 rooms and 22 suites, was operated by the Dan Hotels chain, and according to the owners, the former hotel owners must have a network of NIS 900,000.

According to them, the Draiman brothers made fictitious transfers between accounts; We gave security by means of checks for which the account from which one of the checks was drawn was closed; Misrepresentations regarding the amount of investment in the hotel; Transferred money abroad from the company's funds without explanation, and inflated the hotel's construction costs ($ 2,500 per meter), in amounts that were several times higher than the reasonable estimates of the hotel's construction.

It was also claimed that they presented a misleading presentation to the Investment Center in order to obtain state guaranteed loans and grants. (Parshas 119/99).