Israeli Court Rejects Bondholders' Petition to Take Control of IDB

Judge Eitan Orenstein gives Nochi Danker's indebted group until August 22 to sell Clal Insurance to raise cash.

Tel Aviv District Court Judge Eitan Orenstein on Sunday rejected a petition by bondholders to hand them control of Nochi Dankner's IDB group in a debt-for-equity swap.