Sources inform ''Globes'' that Ilan Ben-Dov sold his penthouse in the Manhattan Tower in Tel Aviv's Park Hatzameret for NIS 13 million in late April to Doron Livnat. The 252-square meter penthouse with a 68-square meter balcony is on the building's 36th floor. Prior to sale he rented the penthouse, reportedly for NIS 36,000 a month.
The penthouse is one of four apartments that Ben-Dov bought in the Manhattan Tower. He and his wife reside in the north Tel Aviv neighborhood of Zahala.
In July, the courts foreclosed on some of Ben-Dov's assets, including bank accounts, lots in Kfar Shmaryahou, and shares in his private holding company, Ben Dov Investments Ltd. The foreclosure was at the request of Bank Leumi (TASE: LUMI), which claims that Ben-Dov had abandoned his personal guarantee in the amount of NIS 62 million given for Tao Tsuot Ltd., which he controlled. Tao has been sent to liquidation, after Ben-Dov's two-year effort to reach a debt settlement for the company failed.
Ben-Dov's other activity, Suny Electronics Ltd. (TASE: SUNY), which controlled Orange franchisee Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) until six months ago, is also insolvent, and its auditors attached a going concern warning to its financial report.
Two weeks ago, the court temporarily lifted the foreclosure on Ben-Dov's assets to allow him and Bank Leumi to reach an agreement, after Ben-Dov expressed a willingness to give a lien on his 25% stake in Eilat's Mul Hayam Mall in favor of the bank.
Ben-Dov told "Globes" in response, "No response, have a Happy New Year."
Published by Globes [online], Israel business news - www.globes-online.com - on August 29, 2013
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