Argentina’s IRSA: bondholders support liquidation of IDB Development

By Marisa Wong

Morgantown, W.Va., June 3 – Inversiones y Representaciones SA (IRSA) gave notice that holders of IDB Development Corp. Ltd.’s series 9 bonds have settled a solicitation with the district court of Tel Aviv to liquidate IDB Development.

The bondholders are represented by Hermetic Trust (1975) Ltd.

IDB Development strongly opposes the request and considers it “unfounded and with no merits to be considered,” according to a 6-K filing with the Securities and Exchange Commission.

IRSA has a controlling interest in IDB Development, a Tel Aviv-based investment holding company. IRSA is a real estate company based in Buenos Aires.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.