Lev Leviev, the billionaire developer whose Africa Israel real estate resume includes huge Miami properties and previous headquarters of the New York Times in New York City, wants to reorganize $2 billion dollars worth of debt. Apparently, his investments in the United States were a “mistake,” as he said in Tel Aviv. He’s now trying to come to a restructuring agreement with creditors and the Israeli government. The Israeli government is very concerned however, because Africa-Israel bonds make up 0.6 percent of pension savings managed by Israeli financial institutions. Yikes!
Via: The Real Deal