(From Israel Business Arena)
Byline: Yoav Yitzhak
Israel Corp. (TASE:ILCO) received rights and benefits relating to Oil Refineries in an agreement dated December 2, 2002, including the option to sell its 26% stake. This was done despite a legal opinion stating that Israel Corp.'s commercial rights to Oil Refineries were set to expire in October, 2003, as the Oil Refineries company, its lands in Haifa and Ashdod, and accumulated assets were to revert to the state at the end of its 70-year license.
The legal opinion was rendered on March 8, 1992 by Ministry of Finance chief legal advisor Adv. Tamar Hacker.
Sources inform ''Globes'' that the …