In this update, we describe the key points of two decisions that were recently released in the area of derivative actions.
In the Bank Hapoalim matter, the Supreme Court accepted the appeal from the District Court decision in which the lower court made an order for disclosure and inspection of documents. The order was made in the context of preliminary proceedings to assess the possibility for shareholders in the bank to bring a derivative action in relation to credit that the bank provided.
In the Africa Israel matter, the Supreme Court dealt with the question of the right to the independent standing of a company when a derivative action is brought in its name.
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