Heftsiba CEO's property held in Israel

Yishai calls for urgent gov't discussion; 2 Heftsiba projects to be completed.

August 8, 2007 19:07
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A subcontractor working with Heftsiba and Bank Hapoalim announced Wednesday that it agreed to finish the construction of houses in Har Homa and Ma'aleh Adumim despite Heftsiba's bankruptcy, Israel Radio reported. According to the agreement, Denya Sibus Ltd. will speed up the construction of approximately 200 apartments in the two projects in order to allow families who paid in advance for the houses to move in. Earlier Wednesday, Industry, Trade and Labor Minister Eli Yishai called on the government to hold an urgent discussion following the collapse of Heftsiba Construction, Development and Investments Ltd last week. Yishai said the government should show sensitivity to the plight of families who were hurt by Heftsiba's bankruptcy. The minister also suggested that squatters who moved into Heftsiba houses when they learned of the company's collapse should have their houses connected to electricity. In other news, Jerusalem District Court Judge David Cheshin ordered to register Heftsiba CEO Boaz Yona's property and to prevent its being shipped abroad. Earlier, the Tel-Aviv District Court ordered confiscation of Yona's property as a result of a request made by one of the companies pressing charges against Heftsiba, Peninsula Finances Ltd.

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