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Questionable Leumi New York financing. (Bank Leumi Trust Company of New York)(Banking)

ICEN

| May 16, 1990 | COPYRIGHT 1990 Israel Business Today. (Hide copyright information)Copyright

Questionable Leumi New York Financing

Bank Leumi Trust Company of New York gave the U.S. firm Integrated, which is now seeking protection under the American "Chapter 11" recovery laws, $10 million in credit without sufficient collateral. Of this, $7.525 million was a direct loan and $2.475 million was a guarantee for an unsecured loan. Leumi New York appears on the list of unsecured creditors from which Integrated is seeking protection under Chapter 11, which allows a company in difficulty to continue operating and …

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