The Finance Committee of the Israel Parliament asked the State Comptroller today to examine Government loans and guarantees to Somerfin, the Geneva-based Israeli firm whose ships have been impounded and sold to meet unpaid debts totaling several million dollars.
The Committee did not find any irregularities in the arrangements for the loans but expressed the opinion that the Government officials concerned overestimated Somerfin’s experience and financial strength. The affairs of the debt-ridden firm have been under extended discussion by Parliament, the press and the public for the past six weeks.
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