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Institutions reject improved banks offer for Africa-Israel: A bondholders' meeting was cancelled since "this proposal is not acceptable to any of the bondholders." [Globes, Tel Aviv, Israel](23 Nov 2009 15:36:00 EST)Nov. 23--The rift between the banks and financial institutions over the Africa-Israel Investments Ltd. debt settlement seems to be widening as both side flex their muscles. The bondholders were due to meet at the office of the bondholders' representative, Adv.
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Leviev, Kuznitsky to sue over private prison cancellation: Minrave chairman Kuznitsky: The prison set a purpose, of besides being economically feasible, which is not a bad thing, of rehabilitating prisoners as far as possible. [Globes, Tel Aviv, Israel](22 Nov 2009 15:44:00 EST)Nov. 22--"IDF Radio" reports that Africa-Israel Investments Ltd. chairman Lev Leviev and Minrav Holdings Ltd. chairman Avraham Kuznitsky intend to sue the State of Israel for loss of potential profits for the private prison that they were due to build, but which was voided by the High Court of Justice.
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WSJ: Africa-Israel sells half of old NY Times building [Globes, Tel Aviv, Israel](19 Nov 2009 17:14:00 EST)Nov. 19--"The Wall Street Journal" reports that Africa-Israel Investments Ltd. has reached a tentative debt settlement for the old New York Time Buildings, which it acquired in 2007. Africa-Israel's US unit Africa-Israel Investments Inc. bought the building on Times Square in Manhattan for $525 million and then added $715 million in debt on the property.
