Banks seek foreclosure of Tshuva, Dankner's Plaza Las Vegas
In response to today's announcement, market sources increasingly believe that Nochi Dankner and Yitzhak Tshuva will give up on the project.
Tshuva's private company Elad Properties owns the other half of the Plaza project. Earlier this month, the companies announced that they were seeking a debt settlement with the banking syndicate that financed the purchase of the 34.5-acre site for the project. The companies owe the banking syndicate $620 million.
IDB Development and Property and Building said that they will each write off NIS 90 million on the project in their financial reports for the third quarter of 2012.
In response to today's announcement, market sources increasingly believe that Dankner and Tshuva will give up on the project.
Published by Globes [online], Israel business news - www.globes-online.com - on November 14, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012
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