Cable TV firm Tevel could petition court for protection from creditors today
Communications firm Netcom has petitioned court to appoint receiver for Tevel due to unpaid debts
Israel's leading cable TV firm Tevelcould ask the court for a freeze on receivership procedures as protection from creditors, Ma'ariv reports.
The company plans to request several months respite, in order to enable it to reach a financing agreement with the banks and its foreign shareholder, Dutch cable firm United Pan-European Communications (Nasdaq:UPCOY, ASE:UPC).
Tevel is expected to petition the court for the freeze order given a hearing scheduled for tomorrow on communications firm Netcom's petition that the court appoint a temporary receiver for equipment Netcom provided Tevel.
