The Israel Supreme Court rejected an application for release on bail of two directors of a bank who were jailed in connection with a Government takeover of the bank.
The Government seized Feuchtwanger’s bank, and its subsidiary, Ellerns Bank, after disclosures of improperly secured loans. The subsidiary, which was described as still in sound condition, was put up for sale earlier this week.
The two former directors, A. Epstein and Ranan Amir, were remanded last Sunday for an additional two weeks by a local magistrate after the prosecution contended their release might interfere with the official investigation of the banks. The effect of the Supreme Court ruling was to confirm the local remand order.
Several bids have been made for the Ellerns Bank. The major bids were received from the Workers Bank and the Manufacturers Association Bank.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
