Fox Group filed a lawsuit in NIS 40 million against the TLV fashion Mall in Tel Aviv,
Posted on Sep 10, 2019 by Ifi Reporter
The Fox Group filed a lawsuit in NIS 40 million against TLV fashion Mall, which operates the mall. This is because of the overcharge of management fees. The Tel Aviv city mall company that owns the fashion mall is owned by Blue Square Real Estate (50%), Gindi Investments (25%) and Moshe Vigal Gindi (25%).
Last July, there was a commercial dispute between the fashion group and Gindi Investment Company's mall. In the lawsuit, Fox claims that "the mall company operating the TLV FASHION MALL in Tel Aviv is in fundamental violation of the lease and management agreements signed between it and the Fox Group, by virtue of which it had to grant group companies such as Llyn and Billy House leasing space in the mall, commercial conditions. The lawsuit also claims that as of the opening of the mall, the Fox Group has been charged management fees of NIS 95 per square meter, plus linkage differences, an amount which, to the best of its knowledge, was also collected from all other shop owners. "Fox Group did not think that there are relatively small area malls in the mall that receive significant discounts on management fees, in contrast to a commitment made to them, and without the defendant making the required adjustment to the management fees paid by Fox Group companies - so the discount will apply to them
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