|
|
Article: United States : Leviev owes banks $3.1b.
- Article from:
- TendersInfo
- Article date:
- October 30, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: babalu03
From data that have reached "Globes" it emerges that Lev Leviev's debts to the banks, through his privately held company Memorand, amount to NIS 3.1 billion. The debts are backed by a personal guarantee from Leviev, by the Africa-Israel Investments (TASE: AFIL) shares he owns, and specific external collateral. All the banks are exposed to Leviev to some extent.
The main exposure is at Bank Hapoalim (LSE: BKHD; TASE: POLI). Leviev's debt to the bank is estimated at NIS 2 billion. This debt is backed by 46% of the shares in Africa-Israel and a real estate project in Russia. The exposure of Bank Leumi (TASE: LUMI) is NIS 400 million, small ...