After two years of quarrel, things are beginning to settle down between Lubavitch real estate baron Shaya Boymelgreen and his former turncoat sidekick Yossi Schneerson.
The Israeli financial daily Calcalist reported that Rabbi Mordechai Ashkenazi of the Kfar Chabad village who was appointed by the two as arbitrator, ruled that Boymelgreen is to pay Schneerson 1.8 million Israeli Shekels in 18 payments of 100,000 shekels.
This puts an end to an ongoing public dispute that found its way to the Israeli press. The board of directors of Boymelgreen Capital still needs to confirm the agreement.
Schneerson served as Vice Chairman of the board and CEO of Boymelgreen’s business in Israel until March 2007.
They both are Israeli-born. Schneerson lives in Kfar Chabad, while Boymelgreen bought property there but has not developed it yet.
Schneerson left the company after a disagreement with Boymelgreen claiming he did not receive due bonuses and shares as promised.