IDB Holding Corp. Ltd. (TASE:IDBH), headed by Nochi Dankner, today rejected a request by the company's bondholders to disclose a revised offer for control of the company by the Dolphin consortium of Eduardo Elsztain and Xtra Holdings AG of Motti Ben-Moshe. IDB Holding's bondholders made the request at midnight yesterday, through Meitar Liquornik Geva Leshem Tal law firm.
The IDB Holding's bondholders representative said, "If the company does not change its decision, the trustees will consider approaching the appropriate authorities this morning to allow a transparent process which will end in the maximum repayment to all the bondholders.
On Monday afternoon, IDB's creditors are due to hold a preliminary meeting, where the bondholders will vote on their preferred offer for a debt settlement. No decision has yet been made on the matter, but it cannot be ruled out that, following Elsztain's hook-up with Ben-Moshe, the IDB Holding's bond trustees will ask the court to postpone the bondholders meeting.
Published by Globes [online], Israel business news - www.globes-online.com - on November 18, 2013
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