Feldheim auction crumbling: candidates withdrew from the transaction
Exposure • is bankrupt Feldheim, left without a buyer? • Rabbi Daniel Bitton and managers of 'Yaffe Nof' sent a message: Withdrawing the purchasing offer
- Yaki Adamker, B'Chadrei Charedim
- י"א טבת התשע"ג
Auction sale of Feldheim Company, continues to issue titles: This morning (Monday) one of the directors of Yaffe Nof announced to the trustee of the Feldheim publisher that Yaffe Nof will remove the proposal from the auction which was put on the bankrupt company for sale.
Specifications which came to B'Chadrei Charedim shows those two bidders sent the message a few days apart from one another. Last Thursday Rabbi Daniel Bitton dispatched - the second offer in the auction - a similar message.
Yaffe Nof was the first and only offer in the auction which has not yet been closed, and the company's bid to acquire Feldheim, was 17.9 million shekels.
Rabbi Daniel Biton submitted his proposal a few days after the auction closed, and is higher by one million six hundred thousand shekels than the first proposal.
Recently a new date was set - the end of January, so there will be a court hearing on the two proposals.
So far it remains unclear what is behind the surprising messages of the two bidders.
A source familiar with the details of the auction told the B'Chadrei Charedim that the bidders did not remove the proposal in a way which is legally acceptable and that the proposals are still valid. The source added that to the messages sent could be different assessments and interpretations and it is not yet clear what they are.
Attorney Benny Kempner – trustee to the company - confirmed the information and said in response: "There are two distinguished signatories on the valid and binding proposal offers, which are backed by a bank guarantee. Trustees and staff which help them work day and night, to formulate the creditors arrangement based on proposals of Yaffe Nof and Rabbi Bitton.
"The trustee is confident that the offers which he acquires them great appreciation will stand behind their proposals and it will not be necessary to bring the issue before the court."
Specifications which came to B'Chadrei Charedim shows those two bidders sent the message a few days apart from one another. Last Thursday Rabbi Daniel Bitton dispatched - the second offer in the auction - a similar message.
Yaffe Nof was the first and only offer in the auction which has not yet been closed, and the company's bid to acquire Feldheim, was 17.9 million shekels.
Rabbi Daniel Biton submitted his proposal a few days after the auction closed, and is higher by one million six hundred thousand shekels than the first proposal.
Recently a new date was set - the end of January, so there will be a court hearing on the two proposals.
So far it remains unclear what is behind the surprising messages of the two bidders.
A source familiar with the details of the auction told the B'Chadrei Charedim that the bidders did not remove the proposal in a way which is legally acceptable and that the proposals are still valid. The source added that to the messages sent could be different assessments and interpretations and it is not yet clear what they are.
Attorney Benny Kempner – trustee to the company - confirmed the information and said in response: "There are two distinguished signatories on the valid and binding proposal offers, which are backed by a bank guarantee. Trustees and staff which help them work day and night, to formulate the creditors arrangement based on proposals of Yaffe Nof and Rabbi Bitton.
"The trustee is confident that the offers which he acquires them great appreciation will stand behind their proposals and it will not be necessary to bring the issue before the court."
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