ISRAEL'S IMI PREPARING FOR RECEIVERSHIP

TEL AVIV [MENL] -- Israel is debating a proposal to place one of its largeststate-owned defense contractors in receivership amid steadily rising lossesand declining sales. Israeli officials said the Finance Ministry has urged that IsraelMilitary Industries be placed in receivership to protect the company againstcreditors. IMI has been drowning in debt and many suppliers have refused todeal with the company.