Israeli Court News

Israel's Supreme Court on Sunday rejected petitions that would have held up a landmark U.S.-brokered deal setting a maritime border with Lebanon, which Washington predicted could be finalized on Thursday. Four groups, including an Israeli opposition lawmaker, had asked the court to force the government - which is looking to fast-track the deal ahead of a Nov. 1 election - to instead hold a full vote in parliament. The court's decision eliminates one of the last hurdles in Israel that could disrupt the deal.

Israel's Finance Ministry and Israel Corp have reached a compromise regarding the government's "golden share" in the country's biggest shipping company Zim, paving the way for a $3 billion debt restructuring plan to move ahead. The government last week appealed an Israeli court ruling regarding the golden share but the two sides said on Tuesday they have reached a compromise that is similar to the original court ruling. As a result, Israel Corp said in a statement, it has asked the district court to approve the restructuring arrangement it has reached with its shareholders. If the court approves, Israel Corp said it plans to carry out its part of the deal by the end of Tuesday.

Israel's Finance Ministry said on Monday it appealed a court ruling that chipped away at its golden share in the country's biggest shipping company Zim, a move that could further delay a $3 billion debt restructuring plan. An Israeli court ruled last week the government could keep its golden share, which gives it veto power over some major decisions, while raising the amount of stock shareholders are allowed to sell without government approval. Conglomerate Israel Corp, which has just under 100 percent of the equity in Zim, had said the court's decision would allow it to carry out the proposed restructuring on July 15. But the Finance Ministry said it had appealed the ruling with the country's Supreme Court, asking for an order to postpone the restructuring.