David Davidovich who is close to the Russian Oligarch Roman Abramovich sues Bank Hapoalim


by Ifi Reporter Category:Law May 4, 2022

Businessman David Davidovich, who is considered close to businessman Roman Abramovich and who previously competed for the acquisition of control of the Globes newspaper for NIS 110 million, is suing Bank Hapoalim. This, claiming that the bank decided "in an instant, without any prior notice to block the bank account of Davidovich, an Israeli citizen for 31 years. This, while leaving Davidovich currently residing in Latvia, without a credit card (blocked) and without an active bank account."
In the application submitted by Davidovich through Adv. Shmulik Cassuto and Adv. "It is also contrary to the Israeli government's policy not to impose similar sanctions on Israeli citizens, as part of a set of considerations of policy and national security," it was claimed.
In fact, Davidovich is asking the Tel Aviv District Court to issue a temporary restraining order ordering the bank to refrain from blocking his account for any activity and that the bank must issue him a new credit card immediately and present it to Davidovich, who is currently in Latvia.
In the past, the Russian edition of Forbes estimated Davidovich's fortune at about $ 700 million. The application states that Davidovich has an apartment in Israel and that he lives in it when he is in Israel. "Davidovich has businesses in Israel, and among other things he invests in a number of Israeli startups. Davidovich also has businesses in Europe, the United States and England, but does not have any businesses in Russia.
"It will be clarified that Davidovich has no criminal proceedings against him, neither in Israel nor anywhere else in the world and he is not under investigation anywhere in the world ... It will be clarified that the sanctions imposed by the British government do not in any way relate to money laundering or terrorist financing. They are part of Britain's attempt to put pressure on the Russian government in connection with the conflict between Russia and Ukraine, on the assumption that putting pressure on elements close to the Russian government will help stop the war in Ukraine.
"Davidovich is not close to the government in Russia, he does not personally know the Russian president or any minister in the Russian government, and is not in any contact with them," it was alleged.

"According to the bank's representative, his account was blocked because of the sanctions imposed on him by the British government (and not by the Israeli government). The blocking of Davidovich's account and the cancellation of his credit card was not preceded by any notice or warning from the bank," it was claimed.
It was further argued that "a review of the British Government's decision to which the Bank referred shows that the basis for imposing sanctions is in an attempt to influence the Russian state to cease its activities in Ukraine by exerting pressure on various entities. "Not to take similar sanctions on Israeli citizens for broad considerations of policy and national security."
In addition, it is written that "Davidovich was notified of the blocking of his account after flying to Riga in Latvia. Upon landing in Riga he found himself in a foreign country, with no money in his possession and no means of paying for basic necessities such as accommodation, food and transport."
Bank Hapoalim responded: "The bank operates in accordance with the international sanctions regime as required in Israel and the Western world. For reasons of banking secrecy, we will not be able to address the specific case."



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