Eduardo Elsztain is asking for the postponement in response to Judge Eitan Orenstin's decision to give IDB chairman Nochi Dankner more time.
Sources inform ''Globes'' that the trustees of insolvent IDB Holding Corp. Ltd. (TASE:IDBH) are in talks with Eduardo Elsztain, who has asked to convene a bondholders meeting on Monday to ask for a postponement of the additional $25 million deposit that he is due to make in a few weeks under the investment agreement he reached with them. He has already deposited $75 million with the trustees on behalf of the bondholders.
Elsztain is asking for the postponement in response to Tel Aviv District Court Judge Eitan Orenstin's decision to give IDB chairman Nochi Dankner a few more months to submit a debt settlement offer for the company. The decision came after IDB's bondholders reached an investment agreement with Elsztain. He wants to postpone the next deposit until Judge Orenstin's next hearing in late November.
Sources close to the negotiations told "Globes" that Elsztain and IDB's bondholders are still committed to their deal.
Published by Globes [online], Israel business news - www.globes-online.com - on September 10, 2013
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