On Sunday, the Ministerial Committee on Legislation is scheduled to discuss an "Economic Turpitude" bill by Member of Knesset Mickey Levy (Yesh Atid). According to the proposal, there will be restrictions on the purchase of bonds of companies that have made a "haircut" writeoff of debts for 10 years after the start of a debt-collection arrangement.
MK Levy said, "The bill is aimed first and foremost at protecting public pension funds, provident funds and advanced study funds that have been exposed to a higher risk in recent years. It is inconceivable that these funds be invested in bonds of those who did not meet their obligations and asked to perform haircuts." It comes in the wake of a proposal to write off at least 76 percent of a 1.7-billion-shekel debt run up by tycoon Eliezer Fishman.