International Foods, revealing that a proposed
transaction for bringing an investor into BDA has failed,
seeks to prohibit the receiver from selling BDA's
plant.
The International Food Marketing company, which served
as the distributor and sole marketing agent for the
products of BDA Meat Products owned by Efraim Evron, is
motioning the Tel-Aviv District Court to appoint a
temporary receiver for BDA. The applicant alleges that
the volume of BDA's debts to various creditors is more
than NIS 8 million, while its asset volume evidently does
not amount even to one fourth of that sum.
The application indicates that Eldad Hetzroni, manager
of the Middle East Investments company, negotiated with
the applicant and with BDA, regarding a joint investment
in BDA which would enable it to continue as a going
concern. The applicant, however, allegedly discovered
that Hetzroni had no intention of investing in the
company, but rather had in mind a financing transaction,
in which he was not prepared to run any risk.
It is further alleged that the temporary receiver
appointed for BDA advised the applicant that there was no
chance of BDA's repaying its NIS 2 million debt to
it.