Don’t miss the latest developments in business and finance.

Ador Welding's subsidiary to be liquidated

Image
Capital Market
Last Updated : Nov 28 2014 | 8:00 PM IST

After District Court orders in Israel

Ador Welding announced that the employees of Plasma Laser Technologies, (PLT), an overseas Subsidiary of the Company, had filed a petition for liquidation of PLT. The District Court sitting in Nazareth, Israel, has ordered "Liquidation" and has appointed a General Receiver, to serve as "Liquidator" until the Meeting of the Creditors, which will usually take place in about 6 months. A Special Manager is also appointed to pursue sale of Assets of PLT.

Powered by Capital Market - Live News

More From This Section

First Published: Nov 28 2014 | 6:54 PM IST

Next Story