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Koor Gets Reprieve from Creditor

Bankers Trust of New York has officially withdrawn its liquidation petition against Koor Industries, in the agreement prompted Bankers Trust to withdraw the liquidation petition placed in Tel Aviv District Court eight months ago for Koor’s $20 million debt to the company.

Bankers Trust issued a statement York on June 2, expressing “hope that Koor will be able to extricate itself from its present problems.”