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News - 28.11.2005 | Read all news
2.9 million shekels for a wrong forecast | Hanna Žarabcova

On October, 23 2005 18 members of the International Air Transport Association (IATA) brought a legal action for 2.9 million shekels against Business Data Israel (BDI) company.

The claimant alleges that BDI provided them with wrong information on the financial state of Geographical Tours Company eight months before its bankruptcy.

BDI recommended IATA to conclude a deal with Geographical Tours on regular market terms, i.e. the credit circle of 45 days and banking guarantee for 75000 dollars. Soon after that emerged the fact of a bankruptcy procedure initiated against the debtor. The claimant assumes that BDI failed to do their work properly and demand for a compensation of their losses.




   
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