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      Archive: 12/17/2013

      News Brief

        12/17/2013, Tevet 14, 5774

      Judge Rules for Elstein and Ben-Moshe Ownership of IDB

      The Tel Aviv District Court approved, Tuesday afternoon, the arrangement decided upon by the bond holders of the IDB investment group to transfer it to a group headed by Eduardo Elstein and Motti Ben-Moshe.

      Judge Eitan Orenstein ruled that there was nothing to stop imposition of a creditor arrangement on the company since the company was in a state of insolvency. He also ruled that the offer of outgoing owner Nochi Dankner did not constitute an offer by a company but an offer by a group of investors.