Leviev Blames United States Purchases for his Debts

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 ┬áis 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