The prolonged battle between siblings Liora and Doron Ofer over the estate of their billionaire businessman father Yuli Ofer ended earlier this month in victory for Liora. The decision was announced Thursday, after a gag order on the December 18 ruling by the Tel Aviv Family Court was lifted.
As a result of the ruling, Liora Ofer will receive her father’s entire 36.67% stake in Ofer Investments. Judge Tova Sivan determined that Yuli Ofer’s final will, written in November 2008 and naming Liora sole beneficiary of the shares, was valid.
Doron Ofer had contested the will, one of around a dozen that Yuli Ofer had signed during his life. He tried to keep the proceedings a secret but they became public when he filed papers in Tel Aviv District Court claiming his sister had received unauthorized funds from Ofer Investments and demanding access to minutes of company board meetings.
In explaining her decision, Sivan said that Yuli Ofer had resisted his son’s efforts over the course of nearly three years — from November 2008, when the last will was signed, until Yuli Ofer’s death, in September 2011 — to persuade him to change the will and give Doron half of his Ofer Investments shares.
Both Liora and Doron each own 15% of the company. The ruling gives Liora Ofer 51% — a controlling share — in Ofer Investments, whose holdings include Mizrahi Tefahot Bank and the real estate development firm Melisron.
The ruling does not affect Doron Ofer’s 15% stake in Ofer Investments. He was ordered to pay 250,000 shekels ($71,592) for his sister’s legal fees.
Yuli Ofer and his brother Sammy Ofer, who died in June 2011, were among the richest men in the world.
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