Vita-Pri Galil reported banks began bouncing its checks.
Vita-Galilee Fruit Ltd. (Vita-Pri Galil) (TASE: VITA) reports that its creditor banks have begun bouncing its checks following the expiration of the moratorium on the payment of the principle of the company's short and long-term loans on December 31, 2008. The banks have returned checks totaling NIS 2.2 million since January 1.
Vita-Galilee Fruit owes the banks NIS 146.2 million. The company said that it was reviewing its options.
Vita-Galilee Fruit's share fell 10% in early trading on the TASE to NIS 3.
Published by Globes [online], Israel business news - www.globes-online.com - on January 4, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009