N. KURIS LAW FIRM Action: Bank Yahav and Hellman Aldobi not paid interest

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Action: Bank Yahav and Hellman Aldobi not paid interest

According to the plaintiff, Bank Yahav and White Aldobi violated the rules of the provident fund by failing to pay interest as required by the regulations. Hellman Aldobi: "we have not received the statement of claim and in any event we acquired the funds Yahav until March 2008"

Mount me light, "Kalkalist" Posted: 11:03:09, 15:08

Claim and request to certify it as a class action in 12 million, was filed yesterday (Tuesday), the Jerusalem District Court against the Bank Yahav and Hellman Aldobi Provident Fund, alleging misleading consumers.

According to the representative plaintiff, Jacob forever, and Weisberg, Bank Yahav and Hellman Aldobi which transferred the management of provident funds, violated the rules of the provident fund and back funds contrary to law, it and other colleagues who deposited their savings funds, by avoiding paying them interest that they were required to pay under the articles of funds.

Plaintiff argues in addition that Yahav and Aldobi violated the statutes of at least six Provident Fund (plowing, Arad, Rotem, Telem most vigorous and total confidence) back money they were not entitled to charge under the provisions of statutes, and violated their fiduciary duty to their for him and the other members thus taken additional steps that have serious misrepresentation against the members of the fund.

The plaintiff also claimed that Yahav and Aldobi not warned the members that they will not pay interest cash flows, and that they intend to require participation in the losses of the fund, contrary to the statutes published.According to the representative plaintiff, by attorneys Noam Kuris, Shavit Amram and Dalit Brenner - Ulitzky from Noam Kuris Co., regulations of the fund states that "any member of the fund deposit or deposit will be credited interest credit fund for the period commencing on the day following the day of deposit and ends at the end of the month." However, according to the representative plaintiff, Yahav and Aldobi did not keep the provident fund in accordance with the regulations, but issued as if they intend to manage the funds in accordance with the policies set.

Representative plaintiff seeks to set up a group that represents plaintiffs as members of the funds deposited in relevant and / or transferred funds to the respondents for 2004-2009, and argues that these members will be entitled to receive a refund for the amount collected from them illegally.Overall estimates the class action plaintiffs damages of $ 12 million.

"The Bank operates in accordance with the law"

According to Noam Kouris attorney representing the class action: "Until 2004, the law required the Bank Yahav et al Hellman Aldobi pay interest to members new and they present to the public. In 2004 the law changed and are no longer obligated to pay interest under the law, but they stopped paying the interest, although you their publications provident fund articles are not changed has been five years. "

Mehlman Aldobi response: "we have not received the lawsuit, and in any case, Hellman Aldobi by the funds Yahav until March 2008."

Bank Yahav said: "As yet received the lawsuit, at this stage we can not comment on the issue. Nevertheless, the Bank operates according to law, as that change from time to time."
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