Teva shares in Maxwell fraud
- 25 million shares of Teva, the Israeli pharmaceutical company, valued at around $36.5 million and currently held as security for a $27.3 million loan to Robert Maxwell by the National West-minster Bank, are involved in a legal dispute. The High Court is to decide whether Bishopsgate Investment Management (BIM) passed the ownership of the shares to Robert Maxwell Group (RMG). If BIM did not, then the bank will have to return the shares to the pension funds and write off the debt. However, if ownership did change, then the bank would not return the shares.
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