Bank Leumi announced Wednesday evening it would freeze the deal with oligarch Nochi Dankner which would have seen the bank erasing most of Dankner’s debt. Bank Leumi noted that it “cannot reveal to the public all the considerations that guided it in formulating the agreement with Dankner”, but added that the agreement was “the best solution that would see Dankner return some of his debt to the bank.” According to the agreement, Bank Leumi intends to erase 150 million shekels of the debt owed by one of Dankner’s companies.

Public pressure caused the bank to announce that the agreement would be frozen. Israelis expressed outrage over the agreement on Wednesday. MK Dov Khenin (Hadash) welcomed Bank Leumi’s announcement regarding the freezing of the agreement with Dankner and said, “Once again we see that a public campaign can succeed. The public today no longer agrees to see different laws for tycoons. Social justice must include not only solutions for the disadvantaged, but also serious treatment of the privileges of the wealthy.”