Israel Discount Bank (TASE: DSCT) wants US real estate developer Shaya Boymelgreen declared bankrupt. The bank today filed a request with the Tel Aviv District Court to issue a bankruptcy order against Boymelgreen, who controls Azorim Investment, Development and Construction Ltd. (TASE: AZRM) through Boymelgreen Capital Ltd. (TASE:BMGN).
In the request, Discount Bank said, "The balance of Shaya Boymelgreen's debt and that of his private company Boymelgreen Holdings, which he and his family fully own, was over NIS 77 million as of June 3."
Boymelgreen Capital's share price was unchanged at NIS 8.04 at midday on the TASE, giving a market cap of NIS 32 million. Azorim's share price fell 0.9% to NIS 14.41, giving a market cap of NIS 516 million.
Published by Globes [online], Israel business news - www.globes-online.com - on June 9, 2010
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