Judge Delays IDB Creditors Vote

Delay gives controlling shareholder Dankner time to raise some NIS 800 million.

A crucial preliminary vote by IDB Holdings Corporation bondholders, on a debt arrangement, was postponed by Tel Aviv District Court Judge Eitan Orenstein on Wednesday to see if Nochi Dankner’s beleaguered holding company would succeed in selling Clal Insurance, and/or raise some NIS 800 million from outside investors.