Genesis Development and Construction Ltd. Files Complaint Seeking $100 Million in Damages From Israel Discount Bank Ltd.NEW YORK--(BUSINESS WIRE)--Oct. 27, 1998--Genesis Development and Construction Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : GDCUF, GDCOF, GDCWF and GDCZF) previously reported that its principals, Messrs. Aran and Schnapp, ended their bid to acquire a controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in Granit Hacarmel Investments Ltd. Today Genesis announced that it and its principals have commenced an action in the district court in Tel Aviv Tel Aviv (tĕl əvēv`), city (1994 pop. 355,200), W central Israel, on the Mediterranean Sea. Oficially named Tel Aviv–Jaffa, it is Israel's commercial, financial, communications, and cultural center and the core of its largest seeking damages in the amount of $100 million from Israel Discount Bank Israel Discount Bank Ltd. (Hebrew: בנק דיסקונט לישראל בע"מ), I.D.B. Ltd. for breach of a financing agreement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Granit acquisition. Headquartered in Haifa, Israel, Genesis Development and Construction Ltd. is an Israeli real estate development and construction management company with a primary focus on residential and public properties in Israel. The company acts as a general contractor, subcontracting all of its construction activities. In addition to managing all of its own projects, Genesis also provides consulting, management and financial management services to other real estate developers and contractors. |
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