The trustee of the bond issued by Canadian real estate company Urbancorp in Tel Aviv, Reznik Paz Nevo Trusts Ltd., filed an application today for an injunction forbidding any disposition in Urbancorp’s assets. Tel Aviv District Court judge Eitan Orenstein granted the application and issued the injunction. At the end of last week, Urbancorp filed for restructuring bankruptcy in Canada.
Orenstein, who apparently realizes that all the guardians of the public’s money fell asleep on watch after Urbancorp raised NIS 180 million a few months ago, summoned all those concerned to his court for an urgent hearing at 9:00 tomorrow (Monday). Only two weeks ago, the controlling shareholder in the company, Alan Saskin, was in Israel, but was not ca…
Read the full article at: http://www.globes.co.il/en/article-tel-aviv-court-grants-injunction-against-urbancorp-1001119930