Firms To Watch: Banking and finance

Up-and-coming boutique Yigal Borochovsky & Co. is noted for its growing strength in the areas of real estate finance, risk management and fintech.

Banking and finance in Israel


Highlighted as a ‘first choice when looking for advice on any complex transaction‘, FISCHER (FBC & Co.) impresses with its strong skillset in traditional lending matters, including corporate finance, project finance and associated regulatory issues. It additionally demonstrates niche expertise in representing banks and institutional investors in lending transactions with non-bank credit providers. Department head Miri Kimhi focuses exclusively on banking and finance and enjoys close relationships with major financial institutions and alternative lenders; she also routinely acts for corporate borrowers. Other key names include increasingly prominent up-and-coming specialist, Dikla Lavy-Fischer, and experienced partner, Orit Israeli.

Practice head(s):

Miri Kimhi


FISCHER is always my first choice when looking for advice on any complex transaction.

Miri Kimhi and Dikla Lavy-Fischer demonstrate knowledge and professionalism in all matters. They have profound knowledge and deep understanding of the different aspects of each transaction and are extremely experienced and familiar with the Israeli players in the credit market.’

Miri Kimhi and Dikla Lavy-Fischer stay on top of everything, are both very accessible, and their service is personal and prompt for any request or matter.

A very strong team. Dikla Lavy-Fischer knows all aspects of the law, she is very good and knows how to get to the exact point of the discussion.’

Dikla Lavy-Fischer is very professional, has full availability and short response times, is fun to work with and is always there to help and contribute to our legal advice.

The partners leading our team are very experienced and knowledgeable; very nice to work with and always strive to get the deal done.’

Both Gilad Winkler and Miri Kimhi are excellent lawyers and are super nice. They are very experienced; they do not fight over miniscule things but rather see the larger picture and help their clients to get a deal, rather than fight over details.’

I work almost exclusively with Dikla Lavy-Fischer and if I need a lawyer in an area that is not her expertise, she finds the right lawyer from the firm to help me. I’ve been working with her for quite a long time and I am very satisfied.’

Key clients

Bank Hapoalim B.M.

Discount Capital

Mivtach Shamir Holdings

Generation Capital Ltd.

Allied Real Estate Ltd.

Delta Galil Industries Ltd.

Golf & Co Group Ltd.

Archimedes Credit (2021) Ltd.

Yeditot Ahronot Ltd.

Cal Israeli Credit Cards Ltd.

Colmobil Financial Solutions Ltd.

Yesodot Financing Group

Kata Capital Ltd.

Leumi Partners Ltd.

Work highlights

  • Advised Bank Leumi and Mizrahi-Tefahot Bank on financing the NIS2.8bn purchase of the controlling stake in Egged Transportation Company, by a partnership established by Keystone REIT together with an Israeli group of provident and pension funds.
  • Represented a syndicate, led by Mizrahi-Tefahot Bank, in a financing to Property and Building Corp to support its NIS3.1bn purchase of a controlling stake in Gav-Yam Lands Corp.
  • Acted for Bareket Finance, as well as Clal Insurance Company and Migdal Insurance Company as Bareket’s credit providers, on a financing to a conglomerate of hundreds of private landowners for the planning and construction of a major real estate project.

Gornitzky & Co.

Gornitzky & Co. is held up by clients as ‘incredible at leading debt transactions‘. Fielding one of the market’s most formidable lender-side practices, the firm acts for the five largest Israeli banks and is also a popular choice for non-bank institutional lenders. It additionally counts major corporate borrowers among its clients. Practice head Eli Elya is recommended for his combination of transactional and regulatory expertise; he teamed up with Ori Yitzhak to advise Phoenix Insurance Company on the government-supported financing of El Al. The deep bench also draws on ‘stand-out partnerElite Elkon, the ‘strategically-minded‘ Dubi Gross, Inbal Badner and Idan Baki. Senior associate Hana Atias provides exceptional support.

Practice head(s):

Eli Elya


‘Incredible at leading debt transactions. Deep understanding of the commercial aspects and never loses sight of these when working through long form agreements. Extremely experienced. Fast turnaround times, highly efficient. Focused on delivering the best result for client.

Good understanding of client needs. Great availability; lawyers always respond quickly. Great at pulling in lawyers from related disciplines when needed – e.g. tax.

Elite Elkon is a stand-out partner. Great access to regulators at partner level and strong ability to advise on processes involving authorities. Personal involvement in client’s business. A 360-degree view, which allows intelligent, bespoke legal support.

Excellent practice with very good understanding of the local regulatory landscape.’

Great understanding of the product, of the ecosystem, of the pain points and sensitivities of the client and the approach of problem solving.’

Lawyers are very hands-on, detail-oriented, experienced and demonstrate creative thinking patterns.’

Dubi Gross is a shining star, totally at ease when he’s in our corner, strategically-minded, knows debt inside-out and can work in multiple jurisdictions.

Nir Keidar is knowledgeable, all over the details and sees the big picture, knows how to translate the legal jargon into commercial terms.’

Key clients

Leumi Partners Ltd.

Extra Public Transportation – Jerusalem Ltd

Bain Capital Credit, LP

Menora Mivtachim Group


Fortress Credit Corp



Work highlights

  • Acted for Phoenix Insurance Company, as arranger, agent and lender, on the government-supported financing of Israel’s national airline, El Al – designed to address the effects of Covid-19.
  • Represented a global investment bank, as lead arranger and lender, on all Israeli aspects of an acquisition financing for the acquisition by Francisco Partners of the STARLIMS informatics product suite from Abbott Laboratories.
  • Advised a syndicate of lenders (Menora Mivtachim, Migdal and Bank Hapoalim) in a NIS1bn financing to support the acquisition of a large real estate property by Shikun & Binui.

Herzog Fox & Neeman

The top local firm’, according to certain clients, Herzog Fox & Neeman strikes a balance between transactional and regulatory mandates. Consistently involved in headline-grabbing local and cross-border matters, it excels in corporate lending, structured finance, fintech and other financial services issues. Department co-head Roy Nachimzon recently advised a syndicate of lenders on a NIS1.5bn credit facility to four separate borrowers led by Blue Square Real Estate. Regulatory expert Irit Roth co-heads a team that also includes high-profile figure Alan Sacks, who recently stepped down to counsel. Other noted names are Nir Miller, who has a focus on international transactions, up-and-coming partner, Ben Kanter, structured finance partner, Natalie Jacobs, and Esti Hadar.

Practice head(s):

Irit Roth; Roy Nachimzon


Herzog has a very capable and strong banking team. It is skilled in both the transactional and regulatory sides and has substantial local and international expertise. In my view, it is the top local firm.’

The team has a lot of practical experience in capital markets: the laws, regulations and market practices. Also understands how the different players in the field function.

Roy Nachimzon is an outstanding attorney. He has an international background and deep understanding of the business side of banking. He is very bright and understands quickly. I enjoy working with him.’

Natalie Jacobs combines in-depth knowledge with great dedication to provide the client with high quality, yet very practical, advice.

A team of professionals imbued with a goal and quick in their response.’

Roy Nachimzon is one of the most dedicated and smart people I’ve had the chance to work with.

Key clients


Goldman Sachs

Bank Leumi

Israel Discount Bank

Bank of Jerusalem

Altshuler Shacham

Phoenix Group

Clal Group

Credito Ltd.

CK Hutchison Holdings

Work highlights

  • Acted for Superbet Group on its acquisition of Napoleon Games Group and Wimi Games Group.
  • Advised 888 Holdings on its acquisition financing package (worth approximately $1.7bn) for the purpose of purchasing William Hill’s non-US business.
  • Acted for a syndicate of lenders, led by Bank Leumi, on a NIS1.5bn credit facility to a group consisting of four separate borrowers, led by Blue Square Real Estate.

Meitar Law Offices

Meitar Law Offices maintains longstanding relationships with a raft of local and foreign banks, Israeli credit card companies and non-bank financial institutions. Active across a range of sophisticated regulatory and transactional matters, the team is distinguished by its extensive experience across the full industry life cycle, from licensing and compliance issues, through to corporate lending and banking M&A. Among its senior names, Gal Feingold stands out for his focus on commercial loan agreements and project finance. Elsewhere, Judith Gal-Or, who sits in both the corporate and banking groups, is also a strong transactional specialist, while Eyal Dotan is noted for his regulatory prowess. Assaf Oz is also recommended.

Key clients

Bank Leumi Le-Israel Ltd.

Bank Hapoalim Ltd.

ONE-ZERO Digital Bank Ltd.

The Association of Banks in Israel

Israel Discount Bank Ltd.

Mizrahi Tefahot Bank Ltd.

The First International Bank of Israel Ltd.

Union Bank of Israel Ltd.

Amitim Senior Pension Funds

Max IT Finance Ltd., Max IT Credit Ltd.

Citibank N.A.



Shomera Insurance Company Ltd.

Menora Mivtachim Insurance Ltd.

More Provident Funds Ltd.

Oliander Ltd.

S. Horowitz & Co

S. Horowitz & Co attracts praise from sources for its ‘detailed knowledge and experience across the whole spectrum of banking work‘. Indeed, the team’s expertise spans a comprehensive range of transactional and regulatory matters, with its ability to draw on its standalone banking and finance litigation unit standing out as a significant differentiator. Anthony Bloch chairs the banking and finance group and is a go-to name for corporate finance, project finance and payments-related mandates. Clifford Davis, who co-heads the international corporate practice, is highly regarded for his prominent record in export credit financing and private equity-related deals, whereas Michelle Liberman is also recommended for her broad corporate finance focus.

Other key lawyers:

Phillip Waldoks; Shlomi Delgo


In my many years of instructing or working with Israeli law firms, I have found S. Horowitz absolutely superb – it is the gold standard in Israel for banking and finance, whether acting for lender or for borrower.

The team’s stand-out qualities include exceptional practitioners whose expertise runs through the whole gamut of banking and finance and who produce outstanding work product. They have deep and detailed knowledge and experience across the whole spectrum of banking work.’

Anthony Bloch has an exceptionally good depth of skills, with a willingness and ease to bring the most complex project or structured financing to the finish line. He also has an uncanny ability to identify all aspects of the transaction which need considering – not just the obvious ones.’

Clifford Davis is – by a long way – the best lawyer I have ever worked with in Israel. I have found his expertise and clarity of advice second to none. He advises both lenders and borrowers on complex cross-border acquisition, general corporate and export credit financings.’

I have found Michelle Liberman to be creative in solving issues. Michelle brings her vast knowledge of prior solutions to the table and her advice shows deep understanding of the financings with which I have worked with her.’

Key clients

Francisco Partners LP

Bank Hapoalim B.M.

Israel Discount Bank Ltd.

Mizrahi-Tefahot Bank Ltd.

TA Associates

Bank Leumi Le’Israel Ltd.

The Phoenix Insurance Company Ltd.

Pathfinder Strategy Fund

MUFG Bank Ltd.

Carlyle Group

Lloyds Bank plc

El Al Israel Airline

First Abu Dhabi bank- UAE

Minrav group Ltd.

Megurit Israel Ltd.

Work highlights

  • Advised El Al Israel Airlines on a transaction which included a financing from Phoenix Insurance Company to a wholly owned subsidiary of El Al.
  • Represented Francisco Partners LP on all financing aspects of its acquisition of Israeli technology company, MyHeritage.
  • Acted for Minrav Group and Megurit Israel in obtaining financing from a group of companies, controlled by an insurance company, for the construction of a real estate project.

Agmon with Tulchinsky Law Firm

Particularly admired for its robust regulatory offering, Agmon with Tulchinsky Law Firm recently represented Leumi Bank in a landmark credit agreement with the Bank of Israel secured by a mortgage portfolio. On the transactional side, the group frequently acts for corporate borrowers and lenders, which it advises on a range of local and cross-border financings. Department head Yona Goshen-Gottstein has broad industry experience, honed by former in-house roles at leading Israeli banks. Senior associate Itamar Shimonovitz handles a mix of banking, finance and corporate work.

Practice head(s):

Yona Goshen-Gottstein

Other key lawyers:

Itamar Shimonovitz


‘We value the team for its people and diversity. Lawyers are problem solvers.’

Key clients

Leumi Bank Le – Israel B.M.

Bank Hapoalim Ltd.

Discount Bank Ltd.

Mizrahi Tefahot Bank

First International Bank of Israel

Mercantile Discount Bank

CitiBank Israel and CitiBank Group Global

Menora Mivtachim Holdings Ltd, and its companies including Menora Mivtachim Insurance Company

Harel Insurance Investments & Financial Services Ltd

Amitim Veteran Pension Funds

Migdal Insurance and Financial Holdings Ltd.

Altshuler Shaham Investment House

Gilad Pensions for Religious Workers Ltd.

ICIC the Israeli Credit Insurance Company Ltd.

Meitav Dash Investment House

WeSure Insurance Company Ltd.

Amot Investment ltd.

Generation Capital Ltd.

Klirmark Capital

Kamada Ltd.

Modiin Energy, LP

Doral Group and several of its companies

Ratio Oil Explorations (1992) Limited Partnership

Delek Group

New Med Energy, Limited Partnership (formerly, Delek Drilling)

Navitas Petroleum, Limited Partnership

Amot Denisra Ltd.

JP Global Power Ltd.

Payment Financial Technologies Ltd.

WeCheck Ltd.

TenureX Ltd.

Ofek Capital Co-operative Association

Nechamka Investments 2001 Ltd.

Veridis Environments

Nili (Amir) Holdings Ltd.

BRM Group

Work highlights

  • Acted for Leumi Bank on a complex mandate involving a credit agreement with the Bank of Israel secured by a mortgage portfolio.
  • Advised Israel-based Kamada on the $110m financing of a strategic acquisition.
  • Acted for Migdal Insurance (and other affiliated companies within Migdal group) on a financing transaction with IBC to support IBC’s fiber-to-the-home national project.

Arnon, Tadmor-Levy

The recently merged banking department at Arnon, Tadmor-Levy combines Yigal Arnon’s robust lender-side practice, which is particularly recognised for its experience in non-bank lending, with Tadmor Levy’s prominent payments offering. Key contacts include highly rated leading light Shiri Shaham, who routinely handles a mix of transactional and regulatory work. The sizeable group also draws on the senior expertise of credit card specialist, Opher Levy, corporate finance partner, Simon Weintraub, regulatory expert, Yuval Shalheveth, and capital markets head, Amir Scharf. Newly promoted partner, Guy Fuchs, is also highlighted as ‘one of the leading experts in payments regulation‘.

Other key lawyers:

Shiri Shaham; Opher Levy; Simon Weintraub; Yuval Shalheveth; Amir Scharf; Guy Fuchs; Avi Anouch; Aviad Lachmanovitch; Ricky Brenner; Itamar Cohen


The firm is very familiar with the payment industry and has been the major law firm of credit card and payment gateway companies for a long time. This enables the team to quickly focus on the relevant issue under discussion, rather than conducting weeks of research.

The team is very professional in the payments sphere.’

A leading firm, from our point of view, as it provides us (a payments company) with consulting on all areas of the law, including antitrust, M&A and regulation. Furthermore, it provides these services to the highest level available in the Israeli market. The team is very diversified and communicates very well.

Yuval Shalhevet and Itamar Cohen are both highly professional, knowledgeable and well familiar with the legal framework and market practice in the banking and fintech fields. They provide innovative thinking and creative ideas for difficult situations. They are great partners for designing solutions.

Guy Fuchs is one of the leading experts in payments regulation. Guy also has vast knowledge in all other relevant aspects of the law – including AML, privacy, and banking regulation. Guy is very helpful and available.

Guy Fuchs demonstrates a very strong “out-of-the-box” way of thinking and provides excellent solutions to complicated issues.

We value the group’s good teamwork, attentive and immediate response times, extensive knowledge and experience.’

Lawyers’ professionalism in the field is evident. Good ability to solve problems and bridge gaps in negotiations with financiers.’

Key clients

Bank Hapoalim Ltd.

Israel Discount Bank Ltd.

Harel Insurance Company

C.A.L (Financing) Ltd.


BNP Paribas


El Al Israel Airlines Ltd

JPMorgan Limited

Max It Finance Ltd.

The Phoenix Insurance Company Ltd.

Migdal Insurance Company Ltd.

The Association of Banks in Israel


National Australia Bank

Lloyds Banking Group

State Bank of India

Nomura Holdings, Inc.

The Goldman Sachs Group, Inc.

Credit Suisse Securities (USA) LLC

UBS Group AG

Bank Leumi Ltd.

Mizrahi Tefahot Bank Ltd.

Peilim Investment Portfolio Management

Ruby Capital

Societe General

UBP SA – Union Bancaire Privée

‘Mimun Yashir’ (Direct Finance)

Credit 24

Global Factoring Ltd.

Work highlights

  • Representing Phoenix Insurance Company in a joint venture with Bank of Jerusalem to provide retail credit to clients.
  • Acting for Bank Hapoalim, in its capacity as the lead arranger of the senior debt, for the NI3.2bn expansion of Section 3 and 7 of the Cross-Israel Highway.
  • Representing State Bank of India as a lender, within the framework of a first-of-its-kind loan agreement to an Israeli company.

Epstein Rosenblum Maoz (ERM)

Epstein Rosenblum Maoz (ERM) climbs a tier on the back of its diverse banking and finance practice, which is distinguished by its activity in the real estate and energy spheres. It also has a strong record in representing ultra high-net-worth individuals on financings. Projects specialist Amnon Epstein heads the group and acts for lenders and borrowers on a range of domestic and international finance transactions. Other key contacts include Erez Gurion, who is noted for real estate finance, and Jeremy Seeff.

Practice head(s):

Amnon Epstein

Other key lawyers:

Erez Gurion; Jeremy Seeff; Itai Yonai

Key clients

Abu Dhabi Commercial Bank PJSC

Access Point

Altshuler Shacham


Ampa Capital Business Finance and Leader Top Capital


Arbel Fund

Atalaya Capital Management

Bank Discount

Bank Hapoalim

Bank Leumi

Bank of America Merrill Lynch

Bank of Cyprus


BNP Paribas


Credit Agricole

DBS Bank

Deutsche Bank

European Investment Bank

Goldman Sachs

Harel Insurance



Jerusalem Bank

JP Morgan

Lloyds Bank PLC

Macquarie Group

Mercantile Bank

Mizrahi Tefahot

Morgan Stanley


Premium Access Group

Royal Bank of Scotland

Ruby Capital

Societe Generale

The four Rivers Group

The Phoenix

Tshuva Group


Work highlights

  • Advising Abu Dhabi Commercial Bank on a $500m financing to a local UAE subsidiary of Elbit Systems.
  • Advising longstanding client the Tshuva Group on the restructuring of all its international and local loans agreements, totalling over NIS5bn.
  • Advising JP Morgan, Morgan Stanley and a consortium of international banks on the financing of the acquisition of the assets of William Hill by the 888 Group.

Erdinast Ben Nathan Toledano & Co. with Hamburger Evron

Erdinast Ben Nathan Toledano & Co. with Hamburger Evron has cemented its position as an up-and-coming firm in this space. Over the past year, it increased its share of lender-side mandates, from both traditional and alternative lenders, including Mizrahi-Tefahot Bank, Phoenix Insurance and Meitav Dash. It also added several new corporate borrowers to its roster, including NSO Group Technologies. Transactional specialist Doni Toledano sits in the banking and corporate groups and focuses on corporate lending, private equity and banking M&A. The team also includes Dan Sella and increasingly prominent partner, Roy Gross; both represent lenders and borrowers.

Practice head(s):

Doni Toledano; Dan Sella; Roy Gross

Other key lawyers:

Shay Dayan

Key clients

Mizrahi-Tefahot Bank Ltd.

The Phoenix Insurance Company Ltd.

Bain Capital Credit, LP

Meitav Dash Insurance Company Ltd.

Menora Mivtachim Insurance Company Ltd.

Israel Theatres / Global Cities Holdings

More Provident and Pension Funds Ltd.

Netafim Ltd.

Ayalon Holdings Ltd.

Yesodot Fund

Carraso Motors Ltd.

Eco City Group Inc.

NSO Group Technologies

Avnon Group

Work highlights

  • Advised Mizrahi-Tefahot Bank and Phoenix Insurance Company on the NIS800m financing of the leveraged acquisition of Ashdod Desalination.
  • Acted for Phoenix Insurance Company and Meitav Dash Investments, as co-lenders, on a NIS1.5bn syndicated loan to finance the construction of a new residential neighbourhood in Tel Aviv.
  • Represented NSO Group, a developer of cyber technologies for government agencies, in the renegotiation of its $500m financing, and in obtaining additional loans of $15m.

Goldfarb Gross Seligman & Co.

The result of a January 2023 merger between Goldfarb Seligman and Gross & Co, Goldfarb Gross Seligman & Co. is noted for its ‘tremendous market knowledge’. The team’s broad client base demonstrates that it is equally adept at representing lenders, borrowers and credit enhancers on banking and finance matters. Its lawyers stand out for their strength in refinancing deals, acquisition finance, traditional bank lending and project finance, among other matters. Ariel Rosenberg, is noted for financings in the energy, infrastructure and real estate fields, though is also an expert in factoring agreements. Rami Sofer heads the overarching corporate, finance and infrastructure department and maintains a strong project finance practice, whereas Ofer Hanoh is well versed across a range of transactional and regulatory matters. Other key names include derivatives and structured products expert, Ran Ben-Ari, as well as Ido Amir, who has an emphasis on mobile and online payment processing and credit card-related matters.

Practice head(s):

Ofer Hanoh, Ariel Rosenberg; Dubi Zoltak

Other key lawyers:

Doron Segal; Orit Kremer; Rami Sofer; Ran Ben-Ari; Yigal Binyamini; Roy Reiss; Ido Amir


‘Tremendous market knowledge, very commercial. Ariel Rosenberg is a wonderful person with whom to work.’

‘A professional, creative and high-availability team. Strong business point of view and understanding. Ability to handle complicated transactions which involve several regulations and legal expertise.’

‘Ariel Rosenberg is a credit and banking expert who has a creative and business understanding which really contributes to the transaction and negotiation. I like to consult Ariel for his knowledge, creative thinking (“outside the box”) commercial understanding and kindness.’

‘Strong knowledge of the fast-growing industry with a friendly and cost-efficient approach. Very useful when in need of assistance – reliable and trustworthy advice and fast-paced team.’

‘Ariel Rosenberg is a master of banking law. Quick thinker, problem solver, who is also great guy and an amazing lawyer, which is a rare find.’

‘Unique understanding of the financial sector. Vast experience and knowledge. Unique understanding of the business perspective of the legal framework. It’s rare to find a firm that is as brilliant as the ideas coming out of this firm. Always there for the in-depth analysis and the bright ideas and suggestions.’

‘Ofer Hanoh is a top class lawyer; well respected in the industry and brilliant with brilliant ideas. The team understands the business side like true businessmen’.

Key clients

Isracard Group

Goldman Sachs

JP Morgan

Credit Suisse



Deutsche Bank

Representing a consortium of leading international banks, including Morgan Stanley, Goldman Sachs, Deutsche Bank, Citigroup, Credit Suisse, Citibank, ING, Credit Agricole, Stifel Financial Corp and more.

Bank Hapoalim B.M.

The Arison Group

Arison Investments Ltd.

Arison Sustainability Ltd.

Mizrahi Tefahot Bank Ltd.

Israel Discount Bank Ltd.

Discount Capital Ltd.

The First International Bank of Israel (FIBI) Group

Excellence Nessuah Brokerage Services Ltd.

Amitim Pension Funds

The Phoenix Insurance Company Ltd.

Altshuler Shaham Ltd.

Menora Mivtachim Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd.

IBI Investment House Ltd.

International Beer Breweries Limited

Elco Ltd.


SBges EPC JV, a joint venture established by GES of the Azrieli Group and Shikun & Binui Group of the Arison Group

Pagaya Investment Israel Ltd.

Canada Israel Group

Israel Canada (T.R) Ltd.

Israel Aerospace Industries Ltd.

Israel Canada Hotels Ltd. (ICH)

ICR – Israel Canada Rem Residence (formerly Minrav Projects Ltd.)

B.S.R. Group

Shufersal Ltd.

Virtu Financial Inc.

The Shlomo Group

Keshet Broadcasting (“Keshet 12”)

Negev Natural Gas Ltd.

Alon Energy Centers Ltd., a limited partnership owned by the Dor Alon Group and Sigma Massad Energy Centers Ltd.

Darom Natural Gas Ltd.

Lahav Fund Two, Limited Partnership

Gibui Eitan Ltd.

Tapugan Industries Ltd.

Shapir Civil and Marine Engineering Ltd.

Champion Motors Ltd.

The Gindi Group

Arena Star Group Ltd.

Z.M.H Hammerman Ltd.

Yuka Park

Leopard Group

Asia-Hadera-Israel Ltd.

Acro Real Estate Group

Allied Real Estate

Shani Shenhav Ltd.

Lumenis Ltd.

Credit Shop Ltd.

Harel Information Technologies Ltd.

Tadbik Ltd.

Access Israel

Representing start-ups in financing agreements and VC loans.

Representing and advising various Fintech companies and initiatives.


FIBI- First International Bank of Israel

UBS AG and UBS Israel

Bank Leumi

Mizrahi Tefahot Bank

Israel Discount Bank

The Association of Banks in Israel

Morgan Stanley

Banco Itaú Brazil

Clal Insurance group

Edmond De Rothschild Bank, Edmond De Rothschild Bank (Israel)

Phoenix Insurance Group

Teachers’ Educational Funds

Bank of America Merrill Lynch

AIG Israel

FIBI Holdings Ltd.

Gilad Pension Fund

Bank Hapoalim

Arison Holdings

JP Morgan

IBI Investment House


Etablishment Nahal

Paz Oil Group

Shikun & Binui

SunTrust Bank

Poalim Equity / Poalim ventures

Investment Houses Association

Bank Hapolaim (Switzerland)

Menora Insurance Group

Excellence Nessuah Investments House

Amitim – Pension Funds

Partner Communication Ltd.

Aura Investments

Hever Soldiers and Veterans Ltd.

Harel Insurance Group

Bank Massad

Leumi Partners

Elron Electronic Industries


Arbel Fund

Harel Insurance Company


Satixfy Communication Ltd.

Nuvei Inc.


Strauss Group


Opal Balance Investments Ltd

Torchlight Investors LLC

Tiedemann Advisors, LLC

Harris Associates

Bergos Bank

Work highlights

  • Advised UBS on Israeli financial regulation regarding its wealth management activities and also advised it as a portfolio manager in Israel.
  • Advising Elbatech Group on two separate mezzanine financing agreements related to the acquisition of two power plants.
  • Representing several global investment banks (Citi, JPMorgan Chase & Co, Barclays, Morgan Stanley and Jefferies) on co-ordinating Bank Hapoalim’s $1bn global private placement of convertible notes.

Amit, Pollak, Matalon & Co. Advocates and Notary

Among Amit, Pollak, Matalon & Co. Advocates and Notary‘s areas of expertise, the team is particularly well equipped to advise on real estate finance and banking and finance litigation. In terms of the former, real estate and urban renewal partner Ori Avigad is noted. As for the contentious front, seasoned litigator Sharon Lubezky-Hess frequently represents major banks in class actions. Corporate and hi-tech partner Yoav Etzyon  oversees the team.

Practice head(s):

Yoav Etzyon

Other key lawyers:

Sharon Lubezky-Hess; Ori Avigad

Key clients

Ampa Capital Ltd.

Ampa Real Estate

Ampa Yuvalim Housing for Rent Ltd.

Bank Hapoalim Ltd.

Bank Leumi Le-Israel Ltd.

Bank Mizrahi Tefahot Ltd.

David’s Harp Hotel Ltd.

Finnovest Ltd.

First International Bank of Israel Ltd.

Forma Real Estate Fund

Horowitz Group

Israel Discount Bank Ltd.

Liquidity Capital

Ofer Investments Ltd.

Peninsula Ltd

Shaked Partners Fund


Union Bank of Israel Ltd.

Work highlights

  • Acted for Ampa Real Estate on the $1bn refinancing of its entire Israeli asset portfolio.
  • Advised Liquidity Capital on a $475m credit facility from an alternative lender, Apollo Global Capital, in order to fund its own alternative lending activities.
  • Successfully defended Union Bank of Israel in a claim seeking a declaratory judgement that the bank’s refusal to deposit funds originating from digital currencies constituted a breach of laws covering the provisions of banking service to clients.

Lipa Meir & Co

Lipa Meir & Co leverages its prominent insurance practice to offer niche expertise in credit insurance-related matters, as well as in representing insurance companies as alternative lenders. The group also acts for banks and corporate borrowers on banking and finance transactions. Yariv Shalom, who heads both the real estate and finance departments, is noted for his experience in structuring true sale transactions. Younger partner Yoni Shtinmatz provides support.

Practice head(s):

Yariv Shalom

Other key lawyers:

Yoni Shtinmatz

Key clients

Bank Hapoalim Ltd.

Bareket Financing Ltd.

Bank Leumi Le Israel BM

Israel Discount Bank Ltd.


Harel Insurance Inv. & Fin. Services Ltd.

Menorah Mivtachim Insurance Ltd.

ICIC – The Israeli Credit Insurance Company

Ayalon Insurance Company Ltd.


SufrinHoldings Ltd.

Weiss Group and several companies in its control (Including Pandom Ltd.)

The Kibbutz Economies Group (“KEG”) and Bituach Haklai Central Cooperative Society Ltd.

Massad Oz Management and Engineering

Work highlights

  • Advising Harel Insurance Group on a range of financial transactions.
  • Acting for Phoenix Insurance on the financing of several acquisitions.
  • Representing Bareket Financing in relation to over 20 financing transactions.

M. Firon & Co Advocates and Notaries

M. Firon & Co Advocates and Notaries finds favour with sources for its ‘approach that puts the client at the centre‘. On the regulatory side, the group is recognised for its work representing non-bank lenders, including in permitting proceedings. On the transactional front, it handles a significant volume of infrastructure and construction financings. Tamar Firon-Smorodinsky, who heads the real estate, infrastructure and project finance teams, and Oded Ofek, who spearheads the capital markets and financial services department, are both recommended.

Other key lawyers:

Ronen Maor; Timor Pesso


Nothing is too complicated for the team. The tender requires extremely long-term vision and adequate preparation, including consideration of finance, transportation and infrastructure aspects, as well as various commercial and technical issues.

The team is broad, knows how to give professional and accurate answers to the in-depth issues that require an understanding of the law and applicable regulations relevant to this sector. As for service levels and responsiveness; the firm provides excellent service — very, very high level.

Tamar Firon-Smorodinsky is a perfect example of how a great lawyer should act. She is very precise, gets to the bottom of things and does not leave anything unattended. I recommend her without hesitation.’

I was asked to describe what makes this practice unique – in a few words – they have it all! You go in with numerous questions and you come out with several alternative legal solutions. They give you reassurance they won’t leave until everything is settled.’

Good connections to government and a key player in the market. Maintains an approach that puts the client at the centre, while trying to solve conflict in the best way for the client — even if it conflicts with the firm’s interest to earn more money by going to court.

I work with Oded Ofek, who is a specialist in the field of investment funds and banking, financing and credit provision services – wise, service-oriented, novel in his solutions and thinking and makes you feel you are in the best of hands.

The team is loyal, timely, precise, smart, helpful, service-oriented and has good understanding of the spheres of law.

I can point to Oded Ofek’s uncompromising professionalism, coupled with the highest level of skill and competence, while showcasing deep knowledge both of all the relevant legal issues and of the business environment in which I operate.’

Key clients

Direct Finance


Harel Insurance Company

Call Insurance

The Phoenix Insurance Company

Master Card

Meonot Shlomo


Auto Cash

S.R. Acord



Bizi Finance;;

Sense capital markets

GC Hevron Capital

The Association of credit providers in the Federation of Israeli chamber of commerce

Work highlights

  • Advising Clal on a NIS365m syndicated lending agreement with Hapoalim Bank to finance Electra’s successful PPP tender for the construction of new dormitories in Bar Ilan University.
  • Representing Albar Credit in a securitisation transaction valued at approximately NIS121m.
  • Advising numerous clients on proceedings and regulations for obtaining the required permits for credit supplier or financial assets services.

Shibolet & Co.

Over the past year, Shibolet & Co. handled a significant volume of lending transactions on behalf of alternative lenders, mainly insurance companies. The group also shines in project finance, in line with the firm’s top-tier offerings in energy and infrastructure. Israel- and New York-qualified Alon Ziv fronts the project finance and banking groups and has strong cross-border experience. Other key names include Nilly Alshech Raviv, who focuses on credit insurance and banking and finance, and Gadi Ouzan.

Practice head(s):

Alon Ziv

Other key lawyers:

Nilly Alshech RavivGadi Ouzan

Key clients

El Al Israel Airlines Ltd.

The Phoenix Holding Ltd.

Goldman Sachs

Morgan Stanley

Bank Leumi LeIsrael B.M.

BNP Paribas Israel

Bank HaPoalim B.M.

Israel Discount Bank Ltd.

Harel Insurance Company Limited

Menorah Insurance Ltd.

Altshuler Shaham Ltd.

The Interdisciplinary Center Herzliya

Ashtrom Group

Ellomay Capital Ltd – Renewable Energies

Wells Fargo Capital Finance LLC

Igudan – The Dan Regional Association for Environmental Infrastructures

Tamares Telecom Ltd.

Work highlights

  • Advised a US-based international credit insurance company and international surety consortium on a $500m credit insurance facility.
  • Advised a bank on the extension of over NIS81m in loan tranches and credit facilities to a group of seven borrowers.
  • Advised a major financial institution on the acquisition finance of a major stake of ownership and pre-emptive rights, mainly by a publicly traded energy and investment group.

Weksler, Bregman & Co., Advocates

Weksler, Bregman & Co., Advocates‘ banking team routinely teams up with its real estate department to pack a punch in advising real estate companies and entrepreneurs, as well as lenders, on real estate financings. Additionally, the group houses significant regulatory capability, with practice head Ora Dvir noted for her strong in-house experience gained during an early career stint at Bank of Israel. Other key contacts include Ofer Yankovich and Eran Shuster.

Key clients

Mizrahi Tefahot Bank

The Tel Aviv Stock Exchange (TASE)

Bank Hapoalim Ltd.

Otsar Hahayal

UBank (part of FIBI Group)

Gottex Group

Israel Discount Bank Ltd. (IDB)

Mercantile Discount Bank Ltd. (Mercantile)

First International Bank of Israel Ltd. (FIBI)

Massad Bank Ltd. (MBL)

Africa Israel Residences Ltd. (AFR)

AFI Properties Ltd. (AIP)

HSBC Bank (Israel)

IGI Investments (Izaki Group – Renanot Enterprises and Investments Ltd.)

Aharoni Group (M.A) development and investment Ltd

Work highlights

  • Advised Mizrahi-Tefahot Bank on compliance with proper banking conduct regulations, including those involving ‘related parties’ transactions with controlling shareholders and officers.
  • Advised the Tel Aviv Stock Exchange on all regulatory aspects of its operation as a stock exchange and the operations of its two clearing houses, the ‘Bursa’ clearing house and the ‘Maof’ clearing house.
  • Advised Israel Discount Bank on multiple financing transactions in which it provided finance and credit to real estate entrepreneurs and landowners.

AYR – Amar Reiter Jeanne Shochatovitch & Co

AYR – Amar Reiter Jeanne Shochatovitch & Co‘s multidisciplinary banking and finance practice has been mainly active on behalf of real estate borrowers of late, though the group also has significant experience in advising lenders. Corporate head Yoav Caspi jointly heads the group together with corporate and banking partner, Assaf Lapid, and Shlomi Bardugo.

Key clients

Bank Hapoalim

Amitim Pension Funds

Harel Group

Clal Insurance Enterprises Holdings Ltd.

Lemonade Group

Gindi Group

Mayer Group

Fritz Companies Israel T. Ltd.

Shapir Group

More Investment House

Halman – Aldubi

A.N.G Group

Etz HaShaked Engineering

Mayer (Kesher) Real Estate England (2013), Limited Partnership

Shriki Group

Nuriel & Sons Transport Ltd

Lahav L.R. Real estate Ltd

Teleclal Group

Eldar Group

Ayalon Insurance Group

Cnaan Group

Work highlights

  • Represented Shafir Housing and Building on its agreement with companies from the Nativ Development and Real Estate Group, to plan and build an entire residential neighbourhood, worth NIS1.5bn.
  • Advised the Economic Company of Kiryat Ono in a financing transaction for an urban renewal project, valued at NIS500m.
  • Advised Gindi Towers Tel Aviv on the purchase of the fourth parcel of land on which the fourth tower of the ‘Gindi TLV Project’ will be built.

Barnea Jaffa Lande & Co.

Barnea Jaffa Lande & Co.knows how to work in uncharted territories‘, according to clients. The group is primarily recognised for its regulatory expertise, with banking co-chair, Zvi Gabbay, and regulation lead, Anat Even-Chen, both noted for their activity in this sphere. The group was significantly boosted in February 2022 with the arrival of a team from Eitan Mehulal Sadot, Advocates & Patent Attorneys, including new department co-heads David Cohen and Misha Gitterman.


Barnea’s team knows the business and knows how to work in uncharted territories. We deal with innovative technologies that demand innovative approaches and they deliver.

I work closely with Anat Even-Chen, head of the regulation department. She is highly professional, thinks five steps ahead and knows her field inside out. She delivers forward thinking and intelligent counsel, and is a true partner to clients.’

Key clients

Azrieli Group Ltd.

Mediterranean Towers

BNP Paribas S.A.

Brinks Israel

Julius BaerGroup

International Bank of Azerbaijan

Bank J. Safra Sarasin Ltd.

Work highlights

  • Represented Azrieli Group on the purchase of the ‘Mall Hayam’ in Eilat, which involved a NIS650m financing transaction.
  • Advised Mediterranean Towers on a NIS310m bank financing for a sheltered housing project in Rehovot.
  • Represented BNP Paribas in two proceedings for the approval of a class action, filed with the Central District Court, against a series of foreign banks.

Yehuda Raveh & Co.

Yehuda Raveh & Co.'s banking practice leverages the firm's robust offerings in energy and infrastructure to specialise in representing both lenders and borrowers on project finance matters. Lisa Tross has an emphasis on real estate, construction, BOT and PFI projects and co-heads the team alongside Ron Vered, whose practice also spans the gamut of project finance issues.

Practice head(s):

Lisa Tross; Ron Vered

Other key lawyers:

Miri Simons


I have worked with Ron Vered for more than 10 years. He is a professional, problem-solving deal maker and very responsive.’

Key clients

Bank of Jerusalem

The Association of Banks

Bank Leumi Le-Israel B.M.

Bank Hapoalim B.M.

Israel Discount Bank

Mizrahi Tefahot Bank Ltd.

First International Bank

Joint Venture of Israeli Financial Institutions

Ayalon Insurance Company

Harel Insurance Investments & Financial Services Ltd.

Migdal Insurance and Financial Holdings Ltd.

Menora Insurance Group

Phoenix Insurance Ltd.

Israel Infrastructure Fund (“IIF”)

Altshuler Shaham Provident Funds & Pension Ltd.

Minrav Group

Hadassah, the Women’s Zionist Organization of America Inc.

Dan Capital

Tamuz Growth Fund

Amitim Group

Work highlights

  • Advising Bank of Jerusalem on regulatory matters and acting as counsel to the board of directors and the bank’s board committees on various issues.
  • Representing Bank Leumi in financing projects, valued at billions of NIS, including the Tel Aviv Fast Lane, Sorek 2, and the Ashkelon Desalination Plant, among others.
  • Advising Bank Hapoalim on the financing of a number of projects, including two landmark wind turbine farms, one in the Sirin plateau and the other in Maale Gilboa.