Court tells all three Israir bidders to submit new final offers

All three bidders battling to acquire Israeli leisure airline Israir will be given until 28 December to submit a best and final offer, a Tel Aviv district court has ruled. The sale of Israir by its parent IDB has been immersed in controversy after bidders were permitted to submit proposals after initial deadlines, after which other bidders were given the opportunity to improve their own offers. While bondholders strongly voted in favour of an offer by investment firm YH Dimri, the two competing companies – BGI Investments and Dor Alon Energy – have objected, complaining that loosened rules for the sales process have provided unfair advantages.<br/>