The Israeli government has decided to pump...
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The Israeli government has decided to pump $20 million of emergency aid into Koor Industries, Israel’s biggest industrial group, which is being sued by Bankers Trust Co. for repayment of debt, Israel Radio reported. Bankers Trust, Koor’s largest creditor, sued the Israeli company in a Tel Aviv court earlier this month, demanding immediate repayment of a $20-million loan. Bankers Trust, the ninth-largest U.S. bank, said it asked the court to liquidate Koor because the company was allegedly insolvent.
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