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      Archive: 9/11/2011

      News Brief

        9/11/2011, Elul 12, 5771

      Knesset Finance Committee to Discuss Agrexco

      The Knesset Finance Committee will hold a special meeting Sunday on the government's apparent refusal to further guarantee institutional bonds issued by Agrexco, which is currently in receivership and likely to be broken up in the near future. The meeting was called by MK Shai Hermesh (Kadima), who wrote a letter demanding that Finance Minister Yuval Steinitz take responsibility for holders of the company's bonds.

      After a two month freeze, a Tel Aviv court ordered Sunday that Agrexco enter bankruptcy proceedings. Workers for the company had sought to prevent the move, because they claimed that the company would not be ablr to pay them NIS 90 million they are owed if the freeze was lifted.