TEL AVIV (Dec. 21)
Koor Industries, the giant Histadrut-owned conglomerate, was given a reprieve from bankruptcy Tuesday.
District court Judge Eliyahu Winograd allowed Koor another month to reach agreements with its many creditors at home and abroad.
Until the court reconvenes on Jan. 22, “Koor will be able to continue its normal activities, as if no liquidation requests were filed against it,” Winograd stated.
The judge made clear however that whatever happens, Koor will not be allowed to go under because it is too important to the Israeli economy.