The Israeli ministry of justice revealed this week that an official receiver had launched an investigation into the collapse of leading fresh produce exporter Agrexco and its executives.
According to a report by national financial publication Globes, the investigation was ordered by the Tel Aviv district court, to study the possibility that senior officeholders at Agrexco were involved in, and responsible for, the loss of value of the company and subsequent damage to its creditors.
An investigation had been on the cards since the company's demise earlier in the year, when judge Varda Alsech called an inquiry 'essential', given the 'astonishing, suspicious and possibly worse' nature of Agrexco's internal records.
The receiver will reportedly investigate how Agrexco used an NIS55m (€10.8m) capital transfer from the government before its downfall earlier in the year, as well as the leases of ships which caused the company substantial losses.
Globes noted that the receiver had already seized Agrexco's computer databases, documents, correspondence and records.
Earlier in the month, the Tel Aviv district court ruled in favour of a bid from Bickel Export Group and Orian SM Ltd of NIS17.6m (€3.5m) to purchase Agrexco as a going concern, which included an immediate NIS10m payment and the employment of 30 of Agrexco's 100 employees.
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