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.

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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.