Subscribe to Print Edition | Thu., November 27, 2008 Cheshvan 29, 5769 | | Israel Time: 01:35 (EST+7)   Back to Homepage web haaretz.com Haaretz Toolbar Diplomacy Defense Jewish World Opinion National Print Edition Car Rental Books Haaretz Magazine Business Real Estate GA 2008 Travel Week's End Anglo File

ILD Insurance bondholders demand assurance By Eti Aflalo At the urging of its bondholders' trustees, ILD Insurance Holdings will be convening an assembly. The trustees are demanding the company explain exactly how it means to meet its upcoming NIS 55 million payment to bondholders, due at the year's end. ILD also has to increase its equity by NIS 15 million in order to meet regulatory requirements for insurance companies. Advertisement Also, ILD Insurance said yesterday that the Tel Aviv court refused to legitimize a loan to Afridar. Both companies are controlled by Eli Elezra's business group. The court accepted the motion by shareholder Yakov Luxinbourg, and annulled the shareholder assembly vote approving a NIS 35 million loan from ILD Insurance to Afridar. Last week ILD Insurance announced the loan had been approved by proper procedure. Since it was an insider transaction, it needed to be approved by a third of ILD Insurance's shareholders who had no personal interest in the matter. In counting the results of the vote, ILD Insurance did not include the votes of its two biggest minority shareholders, Yakov Luxinbourg and the Excellence investment firm, because of flaws in their power-of-attorney documents. Luxinbourg appealed his exclusion in court, which accepted his position and ruled that the results of the vote were void. Now ILD Insurance has to bring the motion before the shareholders assembly again. Bookmark to del.icio.us   Who's missing? Haredi parties absent from Jerusalem coalition for first time in decades. 'Kavosh 2' Amid nuclear tensions, Iran says it successfully launched rocket.

Read & React Documents reveal IDF killed wanted Palestinians against court guidelines Responses: 178 Israel asks Bush to explain its 'special relationship' with U.S. to Obama Responses: 115 Settler teens rampage through Palestinian neighborhood in Hebron Responses: 126 Aluf Benn: Obama's challenge will be to persuade Netanyahu to advance peace Responses: 57 Judea Pearl: Israel and Palestinians should apologize to each other Responses: 52 More Headlines 01:11 At least 80 people dead, hostages taken in multiple Mumbai attacks 23:55 AG seeks to indict Olmert over double-billing affair 22:07 Pines-Paz: It's a tragic day for Israel when a PM is indicted 23:44 Barak: We will evacuate settlers from Hebron house, by force if necessary 18:30 Lebanon asks Iran to supply its army with midsize weapons 23:40 UN watchdog clears Syria bid for atomic aid, despite world doubts 01:30 Who stole Hitler's golden bookmark? 17:27 Holocaust survivor to meet her Polish savior after 60 years 19:25 Haredi parties absent from Jerusalem coalition for first time in decades 18:29 Amid nuclear tensions, Iran says it successfully launched rocket 21:46 Borat's brother - a.k.a. Erran Baron Cohen - releases Hanukkah CD 18:28 Livni urges Thailand to commute Israeli drug smugglers' death sentence 18:28 Hamas, Fatah women brawl in Gaza as factional tempers flare 18:19 Short on fuel, Gazans use car batteries to restart power plant 13:31 Ban: Israel, Lebanon must 'seize the moment' and make peace 18:22 Settler rabbi: Peace Now chief should be jailed for treason Previous Editions Select Day 26 nov 25 nov 24 nov 23 nov 21 nov 20 nov 19 nov 18 nov 17 nov 16 nov 14 nov 13 nov

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