If the tax authority continues to oppose the creditors arrangement for the failed supermarket chain Clubmarket, “there would be no choice but to liquidate the chain, with all the implications of such a course of action,” the Tel Aviv District Court has declared.
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Judge Varda Alshech noted that there would be huge financial consequences, in the hundreds of millions of shekels, for the state as well. She added that an opportunity should be given to the tax authority to consult the Attorney General on this matter of principle, and to bring his final position before the court.
The judge ruled that the tax authority’s position should be made known to her by November 30, saying that the timetable was short because of the approaching end of the stay of the proceedings.
