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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 …