After the bondholders in Africa-Israel Investments Ltd. (TASE:AFIL)) voted yesterday not to present the entire debt balance (NIS 3.2 billion) for immediate repayment, this evening the bond trustee called an urgent bondholders meeting to authorize him to find an investor for the company, or a buyer for its subsidiaries. This means that the trustee has placed a loaded revolver on the negotiating table, and the revolver on the table in Act I must be fired in Act III. RELATED ARTICLES Africa-Israel slips to loss as debt settlement looms Africa-Israel in talks to sell 3 Crowne Plaza hotels The aim of the trustee (Hermetic Trust Services) is to present a genuine alternative to Lev Leviev's control of Africa Israel and in essence to start a process of pricing between Leviev and potential buyers for the company and/or its subsidiaries, in order to pay back to the bondholders (the public) the loans they gave the company. Published by Globes [online], Israel business news - www.globes-online.com - on June 2, 2016 © Copyright of Globes Publisher Itonut (1983) Ltd. 2016
