Firms To Watch: Restructuring and insolvency

Housing a growing restructuring and insolvency practice, FWMK (Furth, Wilensky, Mizrachi, Knaani) secured a raft of new clients during the past year. Practice head Lior Dagan is increasingly engaged as a court-appointed officer.

Restructuring and insolvency in Israel

Amit, Pollak, Matalon & Co. Advocates and Notary

Restructuring and insolvency lawyers at Amit, Pollak, Matalon & Co. Advocates and Notarycommand their spaces of expertise’, according to clients. The group is routinely appointed by the court to act as trustee or receiver in bankruptcy, insolvency and receivership cases – notably, the group handled 600 cases as trustee or receiver over the past year. That being said, the diverse practice brings to bear considerable experience representing all manner of stakeholders in bankruptcy-related matters. Sought-after specialist Erez Haver heads a group that also includes the increasingly prominent up-and-coming partner Moran Mordechay and talented counsel Tzipi Kolp Frieder.


Practice head(s):

Erez Haver


Other key lawyers:

Moran Mordechay; Tzipi Kolp Frieder


Testimonials

‘Very smart and experienced lawyers who have plenty of experience and a high level of expertise.’

‘Quick to understand the client’s needs and the respective legal actions required. Highly experienced partners who command their spaces of expertise.’

Key clients

Adv. Avi Hadar and Ms. Emma Inozemtseva (Azega Holdings Ltd. shareholders)


Ashplast Plastic Trade & Industries 1999 Ltd.


Bank Hapoalim


Bank Leumi Le-Israel BM


Clal Insurance Company Ltd. and Clal Credit Insurance Ltd.


Clock Square Ltd.


Harel Mall debenture holders


Israel Discount Bank Ltd. (TASE: DSCT)


Israel Tax Authority, Treasury Department of the Ministry of Finance


Metro One Communications Inc.


Mercantile Discount Bank Ltd.


Mhamid Tawfik – Building and Development Ltd.


Nawi Group


Registrar of Non-Profit Associations and Organizations, Division of the Corporations Authority in the Ministry of Justice


Rubicon Business Group Ltd.


S.R. Accord Ltd.


Tel Aviv District Court, Insolvency Division – Special administrator of Migdal Hazohar Ltd.


The Official Receiver of the State of Israel


Union Bank Ltd. (U Bank)


Work highlights


  • Representing the Official Receiver of Israel in the NIS318m insolvency of the Peri Group of construction companies.
  • Acting as special managers to settle the NIS860m debts of Mhamid Tawfik – Building and Development.
  • Acting as special administrator and liquidator to Rubicon, its subsidiaries, and the Kela Fund.

Arnon, Tadmor-Levy

The merger of Yigal Arnon’s premier practice with the ascendant team at Tadmor Levy cements Arnon, Tadmor-Levy‘s position in the top tier. The combined group is equipped to advise all parties in major restructuring and insolvency proceedings, with a focus on representing creditors – particularly banks. Amnon Lorch is sought after for his diverse mix of corporate, banking and litigation expertise; he was notably appointed to act as a receiver for Israel Discount Bank in relation to the debts of Israeli newspaper Yedioth Aharonot. Other key figures in the expanded team include Gil Oren, Danit Rimon, Yuval Bargil and Eyal Aichel.


Other key lawyers:

Amnon Lorch; Danit Rimon; Gil Oren; Yuval Bargil; Eyal Aichel


Testimonials

‘Undoubtedly, the insolvency and restructuring team is of high professionalism.’

‘The partners in charge of this field – Gil Oren, Yuval Bargil, Danit Rimo – and their teams are very professional, trustworthy, collaborative, and well appreciated by the courts and other parties involved in the proceedings.’

Key clients

Israeli Ministry of Justice


Arbel Fund


Nomura International PLC


Eurocom Communications Ltd.


Africa Israel Industries Ltd.


Globus Max Ltd.


Packer Construction Steel LP


NMC United Entertainments ltd.


Habas Investments (1960) Ltd.


Scorpio Real Estate Ltd.


NAM 5 Ltd.


Trax Retail Solutions Ltd.


Do-Tsach Ltd.


Victory M. Marketing Ltd.


Fifth Dimension Holdings Ltd.


CIB Bank


Habas Star B.V.


Homat Magen Defence Technologies Ltd.


Tuboul Ceramics Ltd.


GlobaLinks Group


Bakal Zamir Real Estate Ltd.


Magisto Ltd.


Rounds Ltd.


Bank Leumi Le Israel BM


Israel Discount Bank Ltd.


Mizrahi Tefahot Bank Ltd.


FIBI – First International Bank of Israel


Union Bank of Israel Ltd.


Mercantile Discount Bank


Global Factoring


CreditPlace


Lipsker & Co. Engineering Services (1975) Ltd


Chemada Fine Chemicals


Work highlights


  • Acting as receiver for Israel Discount Bank in relation to the debts of Israeli newspaper Yediot Aharonoth.
  • Acting as court-appointed director for Packer Steel Industries, including negotiating a debt settlement with six major Israeli banks.
  • Representing Israel Weapon Industries in the insolvency proceedings of Agrotop, and two other companies in the group.

Erdinast, Ben Nathan, Toledano & Co

Lawyers at Erdinast, Ben Nathan, Toledano & Co ‘aggressively pursue the goals set for themselves’, according to clients. Traditionally best known for its expertise in representing bondholders - including US bondholders - the group was recently appointed by state-owned Israel Postal Company to advise on its NIS1.2bn restructuring. The group also leverages its thriving corporate practice to advise on a host of distressed M&A mandates. Raanan Kalir and Alon Binyamini co-head the department; together they are leading the Israel Postal Company mandate, among others. Junior associates Tomer Shaked and Yarden Rosenbush provide dedicated practice support.

Practice head(s):

Alon Binyamini; Raanan Kalir


Other key lawyers:

Tomer Shaked; Yarden Rosenbush


Testimonials

‘They are innovative thinkers, and aggressively pursue the goals set for themselves.’

‘We value lawyers’ intelligence, innovative thinking and experience.’

Key clients

Holders of Delek Debentures


Israel Petrochemical Enterprises


IDB Development Ltd.


Alon Blue Square-Israel


Extra Development and Entrepreneurship


Directors of Brookland Upreal Limited


The creditors of the “Malrag” company through Adv. Raanan Kalir as a position appointed to the Company


NSO Group Technologies


Arazim Investments Ltd.


Israel Post


Trigo Real Estate Investments Group


Bondholders of two series of bonds (G & H) of the Israeli ADO Group


Excellence Investment House


Series M bond holders of Sunny Cellular Communications Inc.


Apex Issuances Ltd.


I G Investech Technologies Ltd.


Liquidator of BSR Europe Ltd.


Matis Capital Ltd.


Bondholders of Tao Yields Ltd.


Or Yehuda College


Ariz Marking and Packing Solutions Ltd.


Work highlights


  • Appointed to serve as receivers for 8% of the shares of BAZAN Group.
  • Represented government-owned Israel Postal Company in a recovery arrangement, valued at NIS1.2bn.
  • Represented Series 2 and Series 4 debenture holders of Arazim Investments, involving NIS200m in debt.

FISCHER (FBC & Co.)

A popular choice for debtors, creditors and controlling shareholders, FISCHER (FBC & Co.)'s restructuring and insolvency practice is routinely involved in many of the largest cases to hit the market. Among its current marquee mandates, department head Amit Pines is representing Hermetic Trust (1975), as trustee for series 9 bondholders of IDB Development Corporation, in the $281m corporate restructuring of IDB. Other key contacts in this ‘very knowledgeable team of attorneys' include next-generation partner Lihi Blumenfeld, noted for her involvement in complex contentious cases, and capable associate Tal Arazi.


Practice head(s):

Amit Pines; Lihi Blumenfeld


Other key lawyers:

Tal Arazi; Omer Salzberg; Aviad Gurman


Testimonials

‘A very knowledgeable team of attorneys. Amit Pines, Lihi Blumenfeld, Omer Salzberg, Aviad Gurman and Tal Arazi are professionals with vast knowledge in insolvency in Israel and in cases that involve other countries. It is a pleasure to work with them.’

Omer Salzberg, Aviad Gurman and Tal Arazi are very talented and smart, with deep understanding of their field and the way cases are conducted.

Key clients

Ayalon Insurance Company Ltd.


Hermetic Trust (1975) Ltd.


Mercantile Discount Bank Ltd.


A group of investors comprised of The Phoenix, Menora and Clal Insurance, together with Avi Gabay (former CEO of Cellcom), Shlomo Rodav (former Chairman of Bezeq) and the Mori Arkin Fund (The Partner Deal)


Kenyon Harel Ltd.


Chavmal Ltd.


Bank Mizrahi-Tefahot Ltd.


Bank Hapoalim Ltd.


The Department of the Official Receiver at the Ministry of Justice


Otsar Aviel Ltd.


Kardan Real Estate Enterprise and Development Ltd.


Melisron Ltd.


Soltam Radad Ltd.


S. Tanous Construction and Developing Ltd.


Bonaich Lebnia Leami Ltd.


Mr. Lev Leviev


All Year Holdings Limited BVI


Landco Israel Entrepreneurship Management Ltd.


Mr. Joseph Grunfeld


BEITA GROUP Ltd.


HASHALOM 91 LTD


ROYAL APP LTD


TARYA P2P


Israel Discount Bank Ltd.


On Track Innovations ltd.


Bachar Group


Noveto System Ltd.


Mr. Boaz Sarusi & Mr. Roni Sarusi


Shareholders of Asik Infrastructure Ltd.


Work highlights


  • Representing Hermetic Trust (1975), as trustee for series 9 bondholders of IDB Development Corporation, in the corporate restructuring of IDB.
  • Representing a bidder in efforts to acquire All Year Holding (BVI)’s assets under a restructuring plan, following the latter’s insolvency.
  • Acting as a trustee of Bachar Group in its NIS300m restructuring proceedings.

Gornitzky & Co.

Gornitzky & Co. frequently secures roles in major restructuring cases, often acting for creditors, including bondholders. The team also represents financial institutions, shareholders, debtors and other parties in restructuring matters and contentious bankruptcy proceedings. High-profile firm chairman Pinhas Rubin is noted for his premier record in high-stakes matters, jointly chairing the department together with restructuring and insolvency-focused partner Yaron Elhawi and litigator Kfir Yadgar. The team was additionally boosted by the arrival of a two-partner team from Eitan Mehulal Sadot, Advocates & Patent Attorneys, including new practice co-head Karen Reichbach-Segal, and Guy Ido, who has an emphasis on restructuring and insolvency work.

Practice head(s):

Pinhas Rubin; Yaron Elhawi; Kfir Yadgar; Karen Reichbach-Segal


Other key lawyers:

Guy Ido


Key clients

The Secured Bondholders and the trustee of All Year Holdings Limited


Delek Group Ltd.


IDB Development Corporation Ltd.


Former officers of the Better Place Group – Idan Ofer, Amir Elstein and Eran Sarig.


Eurocom


Bank Hapoalim Ltd.


Liquidators of Agrexco Agricultural Export Co. Ltd.


Israeli Football Association


The Official Committee of Unsecured Creditors of Immune Pharmaceuticals Ltd.


Commercial Centers (AZO-REIT) Ltd.,


Royal App Ltd.


Bank Mizrahi Tefahot Ltd.


Medtechnica Ltd.


Geffen Hedge Funds Management Ltd.


Cramim Capital Markets Ltd.


Brookland Uprreal Limited


Honigman & Sons Ltd.


Members of the board of directors, and the CFO Elran (D.D) Investments Ltd. (“Elran”) (in liquidation)


Oil Fields Exploration (1992) – Limited Partnership


TGI REAL ESTATE INVESTMENT LTD


Wertheimer family – The owner of The Tefen Open Museums


TENE Investment Funds


Work highlights


  • Representing the Israeli secured bondholders of All Year Holdings and their trustee in the cross-border insolvency of All Year Holdings.
  • Representing Delek Group in negotiations to execute a debt settlement with the group’s bondholders.
  • Representing the former officers of the defunct Better Place Group (Idan Ofer, Amir Elstein and Eran Sarig) in a motion to dismiss a claim filed by the company’s liquidators against 22 defendants for NIS200m.

Lipa Meir & Co

Few firms can match the track record of Lipa Meir & Co in the restructuring and insolvency sphere. Following its involvement in most of Israel’s most high-profile restructurings, the group has become a destination practice for the full range of debtors and creditors in complex and high-stakes cases. Department head Zuriel Lavie specialises in corporate reorganisations, creditors’ arrangements, receiverships and liquidations, with recent engagements seeing him act as a trustee for US-based Starwood West in its cross-border proceedings. The team also draws on the senior expertise of Shirley Ifrach-Azor - recently appointed a trustee in the Wall Street Israel case - and firm founder Lipa Meir.

Practice head(s):

Lipa Meir; Zuriel Lavie; Shirley Ifrach-Azor


Key clients

Klirmark Opportunity Fund III, LP


J. Brosh S. & Marketing Ltd. and J. Brosh Industrial Group Ltd.


Meshek Wings Tour Ltd.


Starwood West Ltd.


Mega Retail Group


Kal Binyan


Mr. Nochi Dankner


The Carmel Academic Center, Haifa


Eurocom Group


ONO Academic College and Peres Academic Center


W.S.I. WALL STREET ISRAEL LTD


Lapidot Capital Ltd.


Rubicon Group and Kela Fund


Guri TPL logistics LTD


Work highlights


  • Acting as a trustee for US-based Starwood West, which had issued bonds on the Tel Aviv Stock Exchange and indirectly holds seven shopping malls and commercial centres in the US.
  • Acting for Klirmark Opportunity Fund III and ASYV Hahzakot in a bid for the debt settlement of Marathon 018 Xphone.
  • Acting as a trustee to J. Brosh S & Marketing and J. Brosh Industrial Group in their ongoing insolvency proceedings.

Shibolet & Co.

Shibolet & Co. is regarded by clients as ‘excellent on strategy and anticipating the next move’. The team strikes a balance between debtor and creditor-side work, and is also frequently appointed by the court in liquidation or receivership processes. Dispute resolution and litigation head Joseph Benkel is recommended for his record in contentious cases, including cross-border proceedings. Other key contacts include Amir Frankl, who spearheads the standalone bankruptcy, receivership and reorganisation group, and dedicated restructuring and insolvency associate Omer Bar-Ilan.

Practice head(s):

Joseph Benkel; Amir Frankl


Other key lawyers:

Omer Bar-Ilan; Nirit Avtalion; Nir Shamri; Jonathan Ashkenazi


Testimonials

‘Shibolet’s team are deep thinkers. They are excellent on strategy, and anticipating the next move.’

‘Joseph Benkel is a class act. He routinely deals with the most substantial matters, and has an excellent grasp of which issues he needs to care about.’

Key clients

Central Bus Station in Tel-Aviv – Court Nomination


Bank Hapoalim Ltd


Eliezer Fishman bankruptcy proceedings


Hashkaot Kedayot Ltd. Co-Special Administrator – Court nomination


Tirzalit Ltd. (in Liquidation) – Court nomination


Fishman Family Properties Ltd. (in Liquidation) – Court nomination


Fishman Family Properties Management (1988) Ltd. (in Liquidation) – Court nomination


Mr.Eduardo Elzstain, Yad Leviim Ltd., Dolphin IL investments Ltd.


Inventech Central Hotels LTD (in liquidation) – Court nomination


Maavar Ltd. (in liquidation) – Court nomination


Alexion Pharmaceuticals Inc.


Echtman – Engineering corp. LTD


Work highlights


  • Representing Bank Hapoalim on the reorganisation of a client’s debt amounting to hundreds of millions of dollars.
  • Acting as trustee in one of the largest bankruptcy cases in Israel in terms of debt attributed to a single individual, with debts totalling approximately NIS4bn.
  • Advising on the day-to-day management of the Central Bus Station in Tel-Aviv including adjudicating debt claims totalling over NIS1bn.

Friedman, Yunger & Co. Advocates

Restructuring and insolvency work is a key pillar of Friedman, Yunger & Co. Advocates' firm-wide offering. The boutique covers a wide scope of bankruptcy matters with particular expertise in representing debtors and managing insolvency proceedings as court-appointed officers, including as trustees, special directors and receivers. Itzhak Yunger regularly acts as court-appointed officer in a string of cases, and is routinely engaged by creditors and debtors. Dan Friedman, who co-heads the practice alongside Yunger, is also recommended for his extensive experience in the field.

Practice head(s):

Itzhak Yunger; Dan Friedman


Key clients

Beitar Jerusalem Football Club


Rigenera Pharma Ltd


Contigo Ltd


Bonita De Mas (Yanit Lingerie Ltd.)


BSR Europe Ltd. (Under Liquidation)


Hapoel Tel Aviv football club


Clal Insurance Enterprises Holdings Ltd


Hardor Elite Design and Technology Ltd


Lotus civil engineering Ltd


Ulpan Akiva Ltd


Hapoel Petach Tikva Football Club


Max Media Air LTD


Hardor Elite Design and Technology Ltd


Jerusalem Municipality


Shmaya Construction and Development Ltd.


First International Bank of Israel


Rav Bariah Group


Or HaShen Ltd


Akavish Steel Doors


Work highlights


  • Appointed as a trustee of Beitar Jerusalem Football Club.
  • Appointed by the Central District Court as a trustee in the stay of proceedings of Yanit Lingerie and Yamit Import and Marketing.
  • Appointed as a special administrator to BSR Europe (under liquidation).

Gissin & Co., Advocates

Widely regarded as a go-to practice for bondholder mandates, Gissin & Co., Advocates' noteworthy recent instructions include its representation of the trustee and bondholders in Mishmeret Trust’s restructuring of debt in Israel and Cyprus. Beyond its bondholder expertise, the group acts for other creditors, shareholders and debtors in restructuring, receivership and liquidation cases. Guy Gissin brings an enviable record to bear when advising bondholders in headline debt settlements, including IDB and Africa Investments. Yael Hershkovitz's broad experience encompasses debt restructuring and cross-border insolvency proceedings.

Practice head(s):

Yael Hershkovitz


Other key lawyers:

Guy Gissin


Key clients

Be Communications Ltd.


Hermetic Trust


Reznik Paz Nevo Trusts Ltd.


Mishmeret Trust Ltd.


Bondholders of Africa Investments Ltd.


Bondholders of Brookland Upreal BVI


Bondholders of Starwood West BVI


Elag Group US 2019 bondholders


Group of Investors in All-Year


Goldfarb Gross Seligman & Co.

Goldfarb Gross Seligman & Co. is the combination of two acclaimed practices, owing to the January 2023 merger of Gross & Co and Goldfard Seligman. In addition to acting for a litany of companies in debt restructuring and insolvency proceedings, the team also represents corporate clients as both creditors and as acquirers of distressed assets. Among its highlight matters, the group acted alongside the corporate department to advise Alon Israel Oil Company on its NIS2.3bn debt arrangement. David Hahn is a former Guardian General and Official Receiver of Israel who led the team’s involvement in the Alon Israel work, while Aya Yoffe is noted for debt restructuring work. Other key contacts include corporate recovery and insolvency expert, Asher Engelman, high-profile litigator Hagit Blaiberg, and Aaron Michaeli, who advised on the Related Commercial Portfolio matter.

Practice head(s):

Aya Yoffe; Prof. David Hahn; Hagit Blaiberg; Aaron Michaeli


Other key lawyers:

Asher Engelman


Key clients

Alon Delek Ltd. – Alon Israel Oil Company Ltd.


Alotera Group Ltd.


CHS Inc.


Cx Technologies


Dr. Jeff Brooks


EatWith Media Ltd.


Eliyahu and Yuval Orgad


Esense


Fidelis Partners


Internet Gold Golden Lines Ltd.


ION Terra


Israel Petrochemicals Enterprises Ltd.


KDM Engineering & Cranes Ltd.


Maven Wealth Management


Mekorot Water Company Ltd


MRBox


Office Depot Ltd. (in liquidation)


OZ Vision Ltd


Playboy Israel


Robin Hood Pro. Ltd


Sckipio


S-Israel Ha-rechassim 30


Tarya P2P


The National Insurance Institute of Israel


Therapix Biosciences Ltd.


Wb Debt Acquisition LLC


Alon Israel Oil Company Ltd.


Dor-Alon Energy In Israel (1988) Ltd.


Related Commercial Portfolio Ltd.


Black Spruce Management LLC


Menora Mivtachim Insurance Ltd.


Shapir Civil and Marine Engineering Ltd.


Castro Model Ltd.


Nahor Ltd.


Shufersal Ltd.


BE Drugstores Ltd.


A.Y.R.A.D Investments Ltd. (Bank Leumi le-Israel B.M.)


Israel Agricultural Bank Ltd. (voluntary liquidation)


Israel Discount Bank Ltd.


Naveh – Gad Building Development Ltd.


Sapac Trading Ltd., Thermostat For Israel Ltd., and Elzi – Nir Holdings Ltd.,


Urban renewal and construction companies (including I.R.M Relty Ltd. and Oz Improvement and Development Ltd.).


Ramat-Hanasi Gav-Yam Rassco Ltd., a partnership between Gav-Yam Ltd. and Rassco Residence Ltd.


Tapugan Industries Ltd.


New Lineo Cinema (2006) Ltd.


Elad Israel Residence Ltd.


Ramat Tivon Parental Dormitories Ltd.


The Israel branch of Wall Street English (formerly Wall Street Institute)


Matrix IT Ltd.


Six former directors of Orckit Communications Ltd. (in Creditors Arrangement).


Mrs. Doreen Saskin, wife of Mr. Alan Saskin, founder of Urbancorp


Shareholders in Captain Curry Ltd.


Orkal Solutions Ltd.


Mr. Haggai Alon, a former director in Pilat Group Ltd. (in Creditors Arrangement)


Kardan Yazamut (2011) Ltd.


Kardan Israel Ltd.


Directors of Olimpia Real Estate Holdings Ltd. (in liquidation)


Treato Ltd.,


AORA Solar Ltd.


Ramat Tivon Parental Dormitories Ltd.


Albar Engineering Supervision and Project Management Ltd.


Addoox Media Ltd. (in Voluntary Liquidation)


Logistipharm Ltd.


Ultraplast Technologies 2018 Ltd.


Pentalum Technologies Ltd.


RiT Technologies Ltd.


Work highlights


  • Advised Israel Petrochemical Enterprises on dealing with the gap between its debt and its assets, including several recent debt refinancings.
  • Advised Alon Israel Oil Company on a NIS2.3bn debt arrangement.
  • Representing Mr David Chay in his appeal to the Supreme Court regarding a ruling ordering him to pay NIS11.1m for an alleged debt he owed to Orline Development and Investment, prior to his sale of the company.

Herzog Fox & Neeman

Herzog Fox & Neeman stands out for its extensive cross-border experience, with clients commending its ‘in-depth knowledge in complex, multi-party and multi-jurisdictional insolvency and restructuring matters'. Testament to the breadth of its capabilities, the team is distinguished by its strong creditor-side expertise and its formidable distressed M&A offering. Litigator Yaniv Dinovitch has a focus on contentious bankruptcy proceedings, and is noted for his ability to strike ‘the right balance of being aggressive while remaining commercial'. The team also draws on the finance expertise of counsel Alan Sacks, while other key contacts include Seffy Zinger and Asher Dovev.

Practice head(s):

Alan Sacks; Yaniv Dinovitch; Asher Dovev; Seffy Zinger


Testimonials

‘Herzog is super responsive, and the team well-resourced, with strong individuals who provide a pragmatic and flexible approach. Their very impressive team makes them stand out as the best in class.’

‘My long experience with Yaniv Dinovitch has been outstanding. He is top-notch, bright, sharp, creative, hard-working, and very business and commercially minded. Yaniv is solutions oriented and always finds the best solution to complex matters.’

‘Dedicated professionals with a client-focused approach. They quickly address any issue and bring different legal experts for relevant topics. They are leaders in the restructuring practice. The expertise of their team allows them to implement creative solutions and deliver positive outcomes.’

‘Yaniv is top of the tree. He is commercially minded and able to provide concise advice for most complex problems. He is committed, approachable, pragmatic, and able to assist to reach creative solutions for legal challenges.’

‘Yaniv is thoughtful, creative and provides a pragmatic and flexible approach, while being good on the detail in complex disputes. He displays the right balance of being aggressive while remaining commercial. Practical, fast and decisive; he has seen it all and has a total grip on the key issues.’

‘The team provides prompt, efficient, knowledgeable and commercial advice.’

‘Herzog has experienced and exceptional team members with in-depth knowledge in complex, multi-party and multi-jurisdictional insolvency and restructuring matters. The team is knowledgeable and super responsive.’

‘The head of the practice, Yaniv Dinovitch, is our go-to-guy. He is with no doubt top. He provides brilliant legal strategies and tactics, as well as wise and concise legal and commercial advice, even in the most complex matters. Yaniv has huge experience in court and is very much respected by all parties.’

Key clients

Hutchison Group


CitiBank, N.A, London Branch


Alitalia Società Aerea Italiana S.p.A (in Extra-Ordinary Administration)


BNP Paribas


Goldman Sachs International


HPIB (Israeli Branch)


Morgan Stanley


Big Dutchman International GmbH


Ilwella Pty Ltd.


College of Law & Business (R.A)


Sears Israel


Y.H Dimri Construction & Development Ltd.


Israel Electric Corporation


WSE Hong Kong Limited


Dolphin A.L (the controlling shareholder of the IDG Group)


Israel Discount Bank


Credit Suisse (London Branch)


Shell


Saga Core Ltd (Sogur)l


Intel


Jerusalem Bank


Meitav Dash


Ayalon Insurance Company


R.O.P LTD


Hon Hai Precision Industry Co. Ltd (Foxconn Group)


D.N.A Financing services, cooperative society


Local Government Economic Services Ltd. (Mashcal)


Work highlights


  • Representing the Hutchison Group in foreclosure proceedings over a controlling interest of Partner Communications.
  • Representing Jerusalem Bank and Ayalon Insurance Company in the enforcement proceedings of pledges concerning construction projects of the Bachar Group.
  • Advising ROP on its bid to acquire the operations of Brosh Group, in the scope of the latter’s insolvency proceedings.

Meitar Law Offices

With a focus on representing professional creditors, Meitar Law Offices is widely recognised for its specialist expertise advising banks – including Bank Leumi, Bank Hapoalim and Bank Mizrahi-Tefahot – in large-scale bankruptcy and insolvency proceedings. The team, which also frequently acts for corporate creditors, handles the full spread of receiverships, creditors’ arrangements and corporate recoveries. Litigator Pinni Yaniv has an impressive track record of advising Israeli and international creditors in all types of insolvency proceedings. Banking litigator Amir Dolev is also noted for his experience in contentious bankruptcy cases.

Practice head(s):

Pinni Yaniv; Amir Dolev


Key clients

Bank Mizrahi Tefahot


Bank Leumi Le-Israel B.M


Bank Hapoalim BM


Bank Mizrahi Tefahot


Mayer’s Cars and Trucks Ltd.


A. HaOmmer Chagai Investments Ltd


Nava Gottesman


Bnei George Shukha Ltd.


Honigman & Sons Ltd.


Agadim Group


David Ashad


Gmul


Gazprombank JSC


A consortium of US based banks and funds


Metea Maritime Company Ltd. & Vanora Maritime Company Ltd.


Work highlights


  • Advised a consortium of lenders on the insolvency proceedings of Wayout, Goatilev and Convexum (affiliates of NSO Technologies).
  • Advised David Ashad, and affiliated individuals, in a series of lawsuits brought against them in the Tel Aviv District court.
  • Acted as a court trustee in the workout of Gmul Investments.

Weksler, Bregman & Co., Advocates

The team at Weksler, Bregman & Co., Advocates is arguably best known for representing creditors, particularly banks, in restructuring proceedings. It also acts for distressed companies, with its lawyers frequently appointed by the court to act in various roles in bankruptcy and liquidation cases. Litigator Michal Leder Rosen is recommended for her focus on corporate recovery and rehabilitation matters. Doron Dan, who specialises in civil and commercial litigation, has extensive expertise in liquidations, while corporate and finance partner Ofer Yankovich is noted for his experience in debt restructuring.


Practice head(s):

Ofer Yankovich; Doron Dan; Michal Leder Rosen


Key clients

Africa Israel Investments Ltd.


Afdor Ltd.


Africa Israel Residences Ltd. (AFR)


Africa Israel Urban Renewal Ltd. (AFU)


Yarden Hotels M.H.Y. Ltd.


AY Electronics Ltd. (AY)


North America Bank Ltd. (in liquidation)


Trade Bank Ltd. (in liquidation)


Debenture Holders of Maayan Ventures Ltd.


Negev Group


Hermetic Trust Services (1975) Ltd., trustee of the bond holders of Gmul Investment Company Ltd.


A debenture holder of Urbancorp (a Canadian real estate company)


HSBC Bank


Bank Hapoalim


Work highlights


  • Acting for Bank Hapoalim, as creditor, in the debt restructuring proceedings of Delek Group and Yitzhak Teshuva’s group of private companies.
  • Acting for HSBC, as a creditor, in the insolvency proceedings of Eurocom Group.
  • Representing Africa Israel Residences, as creditor, in the liquidation proceedings of U Dori Construction.

AYR – Amar Reiter Jeanne Shochatovitch & Co

AYR – Amar Reiter Jeanne Shochatovitch & Co continues to build on its insolvency offering following its merger with boutique firm Amit Lederman & Co in 2019. In a significant coup, the firm was recently appointed by the court to advise Marathon 018 Xphone in its high-profile restructuring. Department head Amit Lederman, who is leading the Xphone work, is noted for his experience in insolvency and settlement proceedings and related litigation.

Practice head(s):

Amit Lederman


Key clients

Marathon 018 Xphone Ltd.


Bikov Group Ltd


Fritz Companies Israel Ltd


Knesset Israel and Otzar Ha-hesed Associations


Yuvalim City-Boy Ltd


Michal-Negrin Ltd


Discreet Ltd


Smart-Pharm Ltd


Asik Infrastructures Group


S.M.N Renovations and Scaffolding Ltd.


Ultraplast Industries Ltd.


HVML Ltd


Bnei Baker Zoabi Construction Ltd


Elran (D.D) Investments Ltd.


Ashbel Technologies Ltd.


Il Makiage Ltd.


Mercantile Discount Bank Ltd.


Work highlights


  • Advised Marathon 018 Xphone on its debt settlement, which included the sale of the company’s operations.
  • Advised Bikov Group on the formulation of an NIS86m negotiation settlement with most of its creditors.
  • Represented Fritz Group in the sale of a large portion of its operations to Shafir, in a transaction valued at NIS300m.

Doron, Tikotzky, Kantor, Gutman, Nass, Amit Gross & Co.

Doron, Tikotzky, Kantor, Gutman, Nass, Amit Gross & Co. is recommended by clients as an ‘experienced and professional firm in the field of insolvency’. The team handles the full gamut of contentious and non-contentious matters, including restructurings, creditor settlements, liquidations and receiverships, with notable experience in the real estate, sport, and food and beverage sectors. Department head Shlomo Nass maintains a broad practice, which combines strength in insolvency with activity in corporate, real estate, and litigation.

Practice head(s):

Shlomo Nass


Testimonials

‘An experienced and professional firm in the field of insolvency.’

‘Mr Shlomo Nass is an experienced and professional attorney in the field of insolvency.’

Key clients

Goatilev Holdings, Convexum, Wayout (part of the NSO Group)


Eldad Peri Group


Co-op Israel


The Center for Academic Studies, Or Yehuda


Agrexco Agricultural Export Company Ltd.


Avidar Security Services Ltd.


Badui and Sons Ltd.


Ness Polymers Ltd.


Gruper Ltd.


Zamir Group


Work highlights


  • Represented Goatilev Holdings, Convexum and Wayout (part of NSO Group) in filing the motion to open insolvency proceedings.
  • Appointed as Badui and Sons’ trustee for its operation and economic rehabilitation.
  • Represented Eldad Perry in the insolvency proceedings of the group of companies under his ownership, including in personal insolvency proceedings.

M. Firon & Co Advocates and Notaries

M. Firon & Co Advocates and Notaries‘ practice is distinguished by its considerable international capacity. The group is led by Ron Bar-Nir who, as manager of the firm’s SCPA FIRON BAR-NIR operations, splits his time between Bucharest, Sofia and Tel Aviv; he is particularly equipped to handle cross-border proceedings involving Eastern and Central Europe. Shay Bar-Nir also has a focus on insolvency matters, with strong recent experience in the construction, real estate, industry and hi-tech sectors.

Practice head(s):

Ron Bar-Nir; Shay Bar-Nir


Key clients

Migdal Insurance Company


Ashtrom


Mega Or


Shaked Partners


Court appointment – BioNexus


Mevasert Mall


Court appointment – Engel Europe Company


El Srad


Ashlad


Dilon


Shaked Partners


Europe Towers


Herzliya Medical Center


Court appointment: Bielstol Investments


Court appointment: Ana Pastry Distribution


Work highlights


  • Represented Europe Towers in the insolvency proceedings of Tufak Construction and Development Company.
  • Represented Ashtrom and Migdal Insurance Company in the insolvency proceedings of Studio C.
  • Shay Bar-Nir was appointed as a liquidator, administrator, or trustee in numerous cases.

Naschitz, Brandes, Amir & Co.

Naschitz, Brandes, Amir & Co. houses a comprehensive bankruptcy, restructuring and insolvency practice, which boasts a prominent record in construction-related cases. Clients include the full range of debtors, creditors and other participants in bankruptcy proceedings, while members of the team also secure a steady stream of court appointments. Most notably, practice head Alona Baumgarten was appointed to act as trustee of Globus Max in its high-profile restructuring. Ohad Harel is also recommended.

Practice head(s):

Alona Baumgarten


Other key lawyers:

Ohad Harel


Key clients

Courts – Appointments as Trustees


Hapoalim Bank


Mercantile Discount Bank


Israel Discount Bank


Registrar of Fellowship Societies


Union Bank


S. Horowitz & Co

S. Horowitz & Co's multidisciplinary practice leverages the wider firm’s top-tier banking and dispute resolution teams to advise on a range of contentious and non-contentious proceedings. While the group is best known for representing creditors – financial institutions, in particular – it also acts for debtors and officers in bankruptcy and restructuring cases. Distressed M&A is a further core workflow for the team. Key names to note include Ehud Arzi, highly regarded for banking litigation, and Ran Feldman, noted for banking disputes and insolvency matters.

Practice head(s):

Ehud Arzi


Other key lawyers:

Ran Feldman


Key clients

Israel Discount Bank Ltd.


Bank Hapoalim Ltd.


Bullguard Israel ltd.


ThyssenKrupp Presta AG


Evature Technologies (2009) LTD.; Booking.com B.V


Syndigo LLC


SMET – Groundwater Technics


Work highlights


  • Representing Israel Discount Bank in the insolvency proceedings of Eliezer Fishman.
  • Representing Bank Hapoalim in various proceedings related to the collection of debts amassed by the Kahtan real estate group.
  • Representing a private client in bankruptcy proceedings involving international creditors and issues regarding family law and inheritance.

Yehuda Raveh & Co.

In recent years, Yehuda Raveh & Co.'s increasingly active practice has secured a slew of high-profile court appointments. Most notably, department head Chagai Ulman continues to act as trustee in the high-profile proceedings of IDB Holdings. Beyond these choice highlights, the team represents creditors and debtors in a range of contentious and out-of-court insolvency proceedings. Noa Solomon Ben Meir is recommended for her broad practice, which draws on skill sets in banking, insolvency, real estate and litigation.


Practice head(s):

Chagai Ulman


Other key lawyers:

Noa Solomon Ben Meir


Testimonials

A very professional team comprised of hard workers.’

Key clients

Eurocom Real Estate


IDB Holdings (“IDB”)


Amitim Pension Fund (Creditors of Delek Group)


Israel Discount Bank and Bank of Jerusalem


Kamor


Meitav Dash Group


Yelin Lapidot Holdings Ltd.


Bank Mizrahi-Tefahot


Yesodot


El Al Pilots


Michlol Finance Ltd (Formerly Peninsula)


Work highlights


  • Appointed as an observer, and later a trustee, in the debt settlement for IDB Holdings.
  • Represented both Israel Discount Bank and Bank of Jerusalem in two separate matters regarding the bankruptcy of Heftziba.
  • Appointed as a special administrator to Naot Hapisga Modi’in Illit in its receivership.