Leumi’s management claims the deal is not a problem because it is better than dismantling the company and putting it into receivership. if the company assets worth less than the debt this might make sense. however, why did they give the loan in the first place if this is the case and why didn't they ask for additional assets once they knew that the company value goes down. i would really like to see the numbers- what will they bank get if it puts the company into receivership.
Bennett, Deri expected to resign from Knesset, remain in cabinet under new 'Norwegian Law’ (Haaretz)
from the article: An unacceptable write-off