"A wide-ranging public campaign is being waged against the company and its controlling shareholder with the goal of blackening the face of the company and its controlling shareholder, Lev Leviev," claimed Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY) today in a request filed with the Tel Aviv District Court. Africa-Israel has requested the court to order the convening of the company's shareholders and bondholders to approve the settlement between the company and the bondholders.
Africa-Israel said that it and its management "had expected the public outcry during the negotiations on formulating a settlement with the bondholders, but the scale and force of the public storm conducted against the backdrop of the company's announcement that it intended to approach its creditors with a proposal for a debt settlement, could not have been predicted."
Africa-Israel added in the court statement, "Alongside isolated voices heard in the intense public debate in the media, which praised the company the company and its management, and its controlling shareholder, for their responsibility and caution that prompted them to undertake this dramatic measure, the public debate was actually taken over by voices that apparently were waiting for the opportunity to attack the company and its controlling shareholder, and assail the company, its management, and its controlling shareholder, by launching a systematic public campaign of virulent criticism."
Published by Globes [online], Israel business news - www.globes-online.com - on November 9, 2009
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