Israeli Knesset discusses huge, controversial debt settlement of Israeli tycoon Eliezer Fishman

Hours before the decision regarding Israeli tycoon Eliezer Fishman’s huge debt settlement, the Israeli Knesset’s Economics Committee met to discuss the matter.
Fishman Photo credit: Flash 90/ Channel 2 News

Today (Tuesday), the Israeli Knesset’s Economics Committee discussed the outline for the debt settlement of Eliezer Fishman and his family. Those present at the meeting were Fishman himself, his attorney, representatives of the Bank of Israel and representatives of the Banking Supervision Department. Chairman of the committee MK Eitan Cabel opened the discussion and called for an investigation following the Fishman’s huge debt settlement.

The Israeli tycoon owes the banks and financial services approximately 4.2 billion shekels (1.2 billion dollars). As part of the original settlement, of the 4.2 billion shekels, 1.2 billion were to be returned from his companies’ assets, only 400 million from his own money and an incredible sum of 2.6 billion shekels were to be erased as a “haircut”. Surprisingly, the deal did not demand that Fishman be declared as bankrupt.  

MK Cabel Photo credit: Facebook/ Channel 2 News

However, following the public’s pressure, the Israeli Hapoalim, Leumi, Mizrahi-Tefahot and Discount banks announced their opposition to the deal.

Owes 4.2 billion shekels Photo credit: Moshe Shai/ Flash 90/ Channel 2 News

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