Members of Kibbutz Hanita near Israel’s northern border are demanding $11 million from Ballet Vision, the Chinese fund that controls 80% of the Hanita Lenses plant, accusing it of refusing to exercise an option to purchase the kibbutz’s remaining shares, according to a lawsuit filed in Tel Aviv District Court.
In a response letter attached to the lawsuit, the Chinese fund said that since the outbreak of the war in Israel, Beijing has classified Israel as a “high-risk area” and imposed a ban on any new Chinese investments in the country, making it impossible to carry out the option.
According to the lawsuit, in 2021 the kibbutz sold 74% of Hanita Lenses, which manufactures intraocular lenses for medical use, to Ballet Vision for $35 million. Of that sum, $25 million was paid to kibbutz members, with an additional $10 million injected into the company.
When choosing between China and america. China has now become the lesser of two evils.
Been that way since 1949.
Based
Few years late, but ok.
finally. now do the old ones too.
few years late good news for israel!
accusing it of refusing to exercise an option
Was this written by an AI or by an illiterate? That’s not what the rest of the article says happened. The Chinese fund didn’t refuse to exercise the option, they refused to honour an option that they’d already signed. The opening sentence makes it look like Kibbutz Hanita are pulling a fast one, when it’s the exact opposite.
