News Brief

(IsraelNN.com) The Knesset Finance Committee held an emergency meeting Monday morning to discuss the crisis caused by the bankruptcy of the Heftziba construction company.

Tzipi Liran, the Housing Ministry’s legal advisor, said there exist many problems in the law regarding buyers in such situations. “The Housing Ministry must sit down with the Finance Minister and see what we can do,” she said. She said that in past instances the state would offer a loan to prevent the displacement and loss of the families whose homes were being built by Heftziba.

Nissim Slomoliansky (National Union-NRP) demanded to know why the banks who gave such large loans to Heftziba did not investigate the company’s precarious financial situation.

Heftziba representative Tzvi Friedman said that the company would ensure that a solution would be found for all of the 5,000 families affected by the crisis.