Cimed

The Israel Securities Authority has launched a criminal investigation into Cimed Holdings Limited at the request of US authorities. The company is suspected of misappropriating tens of millions of dollars.

Following a cold reception from institutional investors, the American real estate company Eagle Properties has cancelled its 500 million shekel bond issuance. The move leaves the offering's advisors and underwriters, including former Israeli Ambassador to the US Danny Ayalon, without their projected 10 million shekel fees.

Trustees of the collapsed summer camp company Cimed have reached agreements to sell its assets, potentially allowing for full debt repayment to Israeli investors. Funds like Clearmark and Brosh, which purchased bonds after the collapse, expect significant returns from the realization of hidden value.

Cimed has sold 23 summer camps in the US for $368 million, exceeding their book value by $24 million. The proceeds are expected to assist in repaying debts to institutional investors.