The Israeli bank’s New York branch is suing KLG – in which Leviev is a partner – for immediate repayment of its debt.
While Lev Leviev’s Africa-Israel Investments Ltd. (TASE:AFIL)faces the possibility of another debt settlement, Discount Bank has demanded the immediate repayment of loans from another of his companies. Discount Bank has called the loans of US diamond company KLG - where Leviev is in the midst of separating from his partners in the venture, the Klein family.
The split is currently locked in legal proceedings, likely the reason KLG has not repaid the debt. Now Discount Bank of New York is demanding payment of $6 million by the end of the month, part of an $11-million-dollar loan.
The Leviev Group said it had been years since Leviev or his representative took part in managing the company and rolled the responsibility for the matter back to the partners in KLG.
Published by Globes [online], Israel business news - www.globes-online.com - on February 9, 2016
© Copyright of Globes Publisher Itonut (1983) Ltd. 2016
Lev Leviev