Restructuring and insolvency in Israel

Amit, Pollak, Matalon & Co. Advocates and Notary

Amit, Pollak, Matalon & Co. Advocates and Notary has a full-service practice, which includes handling corporate insolvency proceedings, restructurings, debt settlements and banking litigation. Erez Haver is highly regarded for his frequent court appointments in insolvency proceedings, as a receiver, liquidator, special administrator or trustee. In a recent highlight, Haver was appointed as receiver for Miki Deli, pursuant to which he successfully sold the company and its activities for $2.4m. Moran Mordechay is another key partner, notable for her expertise in insolvency, liquidation and reorganisation proceedings and debt settlements.

Practice head(s):

Erez Haver

Other key lawyers:

Moran Mordechay; Tzlil Hudady; Kobi Kimchi

Key clients

Israeli Court and the Official Receiver

Rubicon Business Group Ltd.

Israel Discount Bank Ltd.

Bank Hapoalim

Bank Leumi Le-Israel BM

Mercantile Discount Bank Ltd.

Union Bank Ltd.

Migdal Hazohar Ltd.

Clock Square Ltd.

Israel Tax Authority, Treasury Department of the Ministry of Finance

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

Nawi Group

Aura Israel– Entrepreneurship and Investments Ltd.

Randi Ltd.

Mustang Mezzanine Fund

Inbar Group Finance Ltd.

I.S.P. Financial Management Ltd.

Brenmiler Energy Ltd. & Brenmiler Energy (Rotem) Ltd. (Brenmiler Group)

Bitan Wines Ltd.

Valley National Bank

Livross Ltd.

Cintas Corporation Ltd.

Work highlights

  • Advised and represented Bank Hapoalim in debt collection matters involving seven companies and individuals, including investigations and location of assets, realisation and sale of assets, numerous court motions and more, with a total combined value of $65m.
  • Advised Bank Hapoalim on the collection of $5.3m in debt owed to Aura as creditor in the insolvency proceedings of the Ortam-Malibu Group.
  • Advised I.S.P. Financial Management on a stay of proceedings on account of $3.5m in back taxes debt to the Israeli Tax Authority in reliance on prior tax advice from an external tax adviser.


FISCHER (FBC & Co.) is frequently involved in major insolvency, liquidation and restructuring mandates, in which members of the team serve in various court-appointed roles and advise clients outside of court. Over the review period, the firm's standout matters include advising Bank Mizrahi-Tefahot, as creditor, in numerous insolvency, restructuring and reorganisation proceedings. Amit Pines is extremely active in the field of restructuring and insolvency, leveraging his ability to advise and represent clients in extra-judicial debt settlements and restructuring processes and court cases as a liquidator, receiver or trustee. Lihi Blumenfeld is an expert in liquidation and receivership proceedings.

Practice head(s):

Amit Pines; Lihi Blumenfeld

Other key lawyers:

Tal Arazi; Omer Salzberg; Nofar Mizrahi

Key clients

Ayalon Insurance Company Ltd.

Hermetic Trust (1975) Ltd.

Mercantile Discount Bank Ltd.

Bank Mizrahi-Tefahot Ltd.

Bank Hapoalim Ltd.

Ministry of Justice – Department of the Official Receiver

Kardan Real Estate Enterprise and Development Ltd

Shaked Partners Fund

Africa Israel Investments Ltd.

Petah Tikva football club

Melisron Ltd.

Decor Furniture (2000) 1989 Ltd.

Soltam Radad Ltd.

S. Tanous Construction and Developing Ltd.

Work highlights

  • Represented Ayalon Insurance Company, as creditor, in the NIS1.2bn bankruptcy case of U. Dori Construction Ltd.
  • Represented Hermetic Trust (1975) Ltd., as trustee for series 9 bond holders of IDB Development Corporation Ltd., in the NIS1.2bn corporate restructuring of IDB.
  • Representing Bank Mizrahi-Tefahot, as creditor, in various processes related to distressed businesses valued at hundreds of millions of shekels, including of Fishman Group, Inbal Or Group, Agrexco Group, Sakal Group and Coop Israel.

Gornitzky & Co.

Gornitzky & Co. continues to be instructed by major corporates in relation to their debt settlements, insolvency proceedings and various other matters. In addition, the team is often appointed by the court to serve as an official or liquidator in major cases. Currently, the firm is representing Bank Hapoalim (as the largest creditor) in businessman Eliezer Fishman's bankruptcy proceedings. Pinhas Rubin is highly regarded for his expertise in bankruptcy and restructuring proceedings, which he handles through the court process and on an advisory basis. Yaron Elhawi frequently represents liquidators, creditors' compositions and high-level management in insolvency cases.

Practice head(s):

Pinhas Rubin; Yaron Elhawi

Key clients

Delek Group Ltd.

IDB Development Corporation Ltd.

The bondholders (Series A) of Related Commercial Portfolio Ltd.

Officers from the Israel Corporation Ltd., Better Place Inc. – Mr. Idan Ofer, Mr. Amir Elstein, Mr. Eran Sarig and Mr. Nir Gilad

Bank Hapoalim Ltd.

Nitsba Holdings 1995 Ltd.

Liquidators of Agrexco Agricultural Export Co. Ltd

ISRAS – Rassco

SDS – Star Defence Systems Ltd..

Amot Investments Ltd.

Work highlights

  • Advised Delek Group on negotiations to execute a debt settlement with the group’s bondholders.
  • Advised former officers of the Better Place Group – Idan Ofer, Amir Elstein and Eran Sarig – on a motion for the dismissal of a claim filed to the District Court by the companies’ liquidators against 22 defendants for NIS200m.
  • Advised Bank Hapoalim Ltd. on complex insolvency cases, including representing the bank in the bankruptcy proceedings against Eliezer Fishman.

Lipa Meir & Co

Members of the team at Lipa Meir & Co have a wealth of experience acting as trustees, liquidators and receivers and advising commercial banks, financial institutions and insurance companies on a private basis. Its substantial ongoing work includes representing Delek Group and other group companies in an NIS8bn debt settlement with its financial issuers and bond holders. Zuriel Lavie specialises in corporate rehabilitation, creditors' arrangements, recovery proceedings, receivership and liquidation. Shirley Ifrach-Azor  is often appointed as trustee for distressed companies, and shows particular expertise in handling creditors' arrangements. Founding partner Lipa Meir is also noted.

Practice head(s):

Lipa Meir; Zuriel Lavie; Shirley Ifrach-Azor

Key clients

Eurocom Group

Mega Retail Group

Kal Binyan

Mr. Nochi Dankner

The Carmel Academic Center, Haifa

Chemada Fine Chemicals

Rubicon Group and Kela Fund

Madison BU LLC and others

Delek Group Ltd

Kibbutz Dalia

Bar-Ilan University

Mr Yossi Maiman and Merhav (M.N.F) Ltd.

UNO Academic College and Peres Academic Center

Mobisec Technologies Ltd.


Oshira Ltd.

Creditplace Ltd.

Shmuel Partnership

Lapidot Capital Ltd.


Starwood West Ltd.

Wall Street English

Work highlights

  • Advising Eurocom Group in connection with its insolvency, which represents one of the largest insolvency events in Israel over the last decade.
  • Representing Delek Group and other companies from the group in a debt settlement with its financial issuers and bondholders.
  • Representing Mega Group in debt settlement negotiations.

Shibolet & Co.

Shibolet & Co.'s 'committed and talented' team is equally experienced in voluntary and mandatory insolvency and restructuring proceedings, serving as counsel to distressed corporates, creditors and security holders. 'Tenacious, driven and astute' practice head Joseph Benkel is highly regarded for his consistent role in major bankruptcy and insolvency cases as a trustee, liquidator or receiver. In an ongoing matter, Benkel is acting as a trustee in businessman Eliezer Fishman's bankruptcy case, which is unprecedented in scale and value. Amir Frankl has a wealth of experience in debt restructuring mandates and insolvency proceedings, in which he represents debtors. Associate Omer Bar-Ilan is well versed in bankruptcy and liquidation proceedings, including cross-border matters.

Practice head(s):

Joseph Benkel

Other key lawyers:

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


‘One of the top contentious insolvency and disputes practices in Israel.’

‘A very strong team of lawyers led by Joseph Benkel, a true leading lawyer in the sector.’

‘Joseph Benkel is one of the finest tactical thinkers in the international disputes market and continues to be a leading insolvency expert as well as a highly respected and tenacious trustee in bankruptcy cases.’ 

‘Real strength in depth. Tenacious in pursuing assets.’

‘Yossi Benkel is the standout individual here. Tenacious, driven and astute, and very well connected globally, with great experience in asset tracing and litigation across multiple jurisdictions.’

‘Fantastic lawyers at every level, great focus on the case, no time wasting. They pay real attention to the case at hand and quickly get on top of the important details. They are committed and talented.’

‘Joseph Benkel is a true litigator. He has a highly forensic mind and can see all possible routes to victory. He understands the law, the facts and the strategic importance of the dispute at hand.’ 

‘Omer Bar-Ilan and Jonathan Ashkenazi are both highly intelligent and perceptive litigators who stand out at the associate level for their legal knowledge, understanding of the case and the client’s needs, and their attention to detail.’

Key clients

Bank Hapoalim Ltd.

Central Bus Station in Tel – Aviv

Eliezer Fishman’s Bankruptcy

Tirzalit Ltd.

Fishman Family Properties Ltd.

Hashkaot Kedayot Ltd.

Adv. Ady Fighel in his role as trustee of the creditors’ composition of Inventech Central Hotels Ltd.

Fishman Family Properties Management (1988) Ltd.

Maavar Ltd.

LAHAV LR Real Estate Ltd

Echtman – Engineering corp. Ltd.

Alexion Pharmaceuticals Inc.

Work highlights

  • Advising Bank Hapoalim Ltd. in connection with the reorganisation of one of its client’s debt, totalling hundreds of millions of dollars.
  • Acting as a court-appointed trustee in Eliezer Fishman’s bankruptcy proceedings.
  • Advising trustee Ady Figel in relation to the creditors’ composition of Inventech Central Hotels Ltd. (in liquidation).

Weksler, Bregman & Co., Advocates

Weksler, Bregman & Co., Advocates has a strong reputation for advising financial institutions as creditors in liquidation proceedings and debt collection mandates. In addition, members of the team are regularly appointed as special administrators, trustees, receivers and liquidators in major insolvency cases. Michal Leder Rosen frequently advises distressed companies on debt arrangements with creditors, and represents numerous clients in insolvency proceedings. Rosen is currently working alongside fellow practice head Ofer Yankovich to advise Africa Israel Investments on its ongoing debt settlements with various creditors. Doron Dan also co-heads the practice.

Practice head(s):

Doron Dan; Ofer Yankovich; Michal Leder Rosen

Key clients

Africa Israel Investments Ltd.

Afdor Ltd.

Africa Israel Residences Ltd.

Africa Israel Urban Renewal Ltd.

Yarden Hotels M.H.Y. Ltd.

AY Electronics Ltd. (AY)

North America Bank Ltd.

Trade Bank Ltd.

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)


Bank Hapoalim

Work highlights

  • Assisted Africa Israel Investments Ltd. with extensive negotiations over a new debt settlement filed with the court in October 2019 as part of a motion calling for convening a creditors’ meeting, all according to the new Insolvency Law that came into effect in September 2019.
  • Represented the Official Receiver of the State of Israel in the liquidation of the North American Bank and appointment as special administrator of the bank in its liquidation proceedings, handling numerous debt collection motions with a total value of millions of shekels.
  • Representing Africa Israel Residences as a creditor in the scope of the liquidation proceedings of well-known construction company U. Dori Construction Ltd.

Yigal Arnon & Co

Yigal Arnon & Co acts for creditors and debtors in a wide range of restructuring and insolvency mandates through court appointments and on a private basis. Areas of particular strength include debt arrangements and bankruptcy and insolvency proceedings arising from the acquisition of assets from distressed companies. Gil Oren is capable of advising all relevant parties in debt arrangements and restructuring processes and often serves as a liquidator, receiver or trustee in stays of proceedings. Yuval Bargil specialises in commercial liquidation, bankruptcy and creditors' rights. Amnon Lorch is frequently appointed as a receiver in major debt recovery proceedings.

Practice head(s):

Amnon Lorch; Gil Oren; Yuval Bargil


‘The team possesses a deep understanding and expertise in various sectors and is a thought leader, with phenomenal negotiation skills.’

‘Gil Oren is not only a professional team player, but also knows how to analyse different situations and find unique, creative and applicable solutions in the most efficient way.’ 

Key clients

Fifth Dimension Holdings Ltd.

Africa Israel Industries Ltd.

Packer Construction Steel

NMC Music

Arbel Fund

Hod Migdalei Al (1993) Ltd.

Israel Discount Bank Ltd.

Bank Leumi Le Israel BM

Homat Magen Defence Technologies Ltd.


Union Bank of Israel Ltd.

Mizrahi Tefahot Bank Ltd. (TLV: MZTF)

FIBI – First International Bank of Israel (TLV: FIBI)

Tuboul Ceramics Ltd.

GlobaLinks Group

Eurocom Cellular Communications Ltd. (In Liquidation)

Eurocom Digital Communications Ltd.

Habas Investments (1960) Ltd. (TASE: HBS)

Bakal Zamir Real Estate Ltd.

Globus Max



Mercantile Discount Bank

Psagot Investment House Ltd.

CIB Bank

Scorpio Real Estate Ltd.

Habas Star B.V.

Israel Broadcasting Authority (IBA)

Panasonic Asia Pacific Pte. Ltd

Work highlights

  • Acted as court appointed receiver for cybersecurity start-up Fifth Dimension in order to oversee the company’s sale of its assets to clear a NIS11m debt.
  • Acted as a court-appointed receiver on behalf of Israel Discount Bank Ltd. to oversee 7.5% of Israeli newspaper Yediot Aharonot’s shares.
  • Representing Arbel Fund, a secured creditor of Powermat Technologies Ltd., which took a NIS50m loan from the client and is currently in financial difficulties.

Erdinast, Ben Nathan, Toledano & Co.

Erdinast Ben Nathan Toledano & Co. with Hamburger Evron often represents US bondholders of Israeli companies, and additionally advises foreign lenders and borrowers in relation to restructuring and insolvency mandates. It is also well known for advising investors purchasing distressed companies. Alon Binyamini has a strong reputation for handling major creditors' arrangements and acquisitions of distressed companies. Raanan Kalir is regularly appointed by the courts in insolvency proceedings to serve in a variety of roles.

Practice head(s):

Alon Binyamini; Raanan Kalir

Key clients

Holders of Delek Debentures

IDB Development Ltd. Series 14 bondholders

Alon Blue Square-Israel and Extra Development and Entrepreneurship

Rainmaker Investments GmbH

Directors of Brookland Upreal Limited

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

Shareholders in Topban Ltd.

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

“Excellence” Investment House

Bondholders of Medley Capital

Series M bond holders of Sunny Cellular Communications Inc.

Series A bondholders of KARDAN NV

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

  • Representing the holders of Delek Group’s debentures in connection with a debt of NIS6bn owed to the debenture holders.
  • Advised Washington Prime Group in relation to a competitive process to purchase all assets of bond company Starwood.
  • Advised the creditors of Malrag in a case which led to a precedent-setting court ruling.

Friedman, Yunger & Co. Advocates

Friedman, Yunger & Co. Advocates is highly active in court proceedings, in which members of the team are frequently appointed as trustees, special administrators, receivers and liquidators. Over the review period, Itzhak Yunger has received numerous court appointments: in one ongoing case, he is acting as the trustee of the Barkat family, the owners of Hapoel Be'er Sheva Football Club. Dan Friedman is also a key member of the team.

Practice head(s):

Itzhak Yunger; Dan Friedman


‘Very good in the field of insolvency – a high degree of professionalism and many years of experience.’

Key clients

Bonita De Mas

Hapoel Be’er-Sheva Football Club

BSR Europe Ltd.

Hapoel Tel Aviv football club

Clal Insurance Enterprises Holdings Ltd.

Hardor Elite Design and Technology Ltd.

Hapoel Petach Tikva

Max Media Air LTD

First International Bank of Israel

Or HaShen Ltd.

Jerusalem Municipality

Shmaya Construction and Development Ltd.

Rav Bariah Group

Akavish Steel Doors

Enosh Security and Maintenance Ltd.

Ulpan Akiva Ltd.

RadGuard Ltd.

Work highlights

  • Acted as court-appointed trustee on behalf of the owners of Hapoel Be’er-Sheva Football Club, the Barkat family.
  • Acted as court-appointed trustee to Bonita De Mas in a stay of proceedings of two companies (Yanit Lingerie Ltd and Yamit Import and Marketing Ltd).
  • Acted as a special administrator to B.S.R. Europe Ltd. in relation to its liquidation.

Gissin & Co., Advocates

Gissin & Co., Advocates is best known for its expertise in debt arrangements and cross-border insolvency proceedings. In a standout matter, Guy Gissin recently acted as the foreign representative of Urbancorp, a Canadian company, following its collapse only four months after a bond issuance in Israel. Yael Hershkovitz has recently handled major public and private debt settlements recently for a wide range of clients, including the bondholders of IDB, Brookland and Africa Investments.

Practice head(s):

Guy Gissin; Yael Hershkovitz


‘Creative, service-oriented, very experienced and reliable.’

‘Guy Gissin is a forceful litigator on the one hand and a very practical and creative negotiator on the other hand. This unique combination proves to be an essential catalyst in achieving productive solutions to complex situations, conflicts and problems.’

‘Yael Hershkovitz is very talented and has a comprehensive knowledge of insolvency law.’

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

Internet Gold Lines Ltd.

Elag Group US 2019 bondholders

Work highlights

  • Acted as court-appointed trustee to Mishmeret regarding the company’s financial difficulties and breach of its undertaking under the deed of trust.
  • Advising B Communications Ltd. on a sale of control and debt settlement with its bondholders and shareholders.
  • Acting for the bond trustee, Hermetic Trust, in a NIS3bn debt arrangement.

Gross Law Firm – GKH

Gross Law Firm – GKH is sought out by all parties in relation to insolvency and restructuring matters, but shows particular expertise in advising distressed companies on managing their debts and handling claims from creditors. Practice co-head David Hahn, who joined the firm in November 2019 from the Ministry of Justice, where he served as the Guardian General and Official Receiver of Israel, is highly regarded for his expertise in insolvency law. In one ongoing matter, Hahn is working with fellow partner Ben Lipetz to advise Israel Petrochemical Enterprises on debt refinancing and various other arrangements to avoid insolvency. Co-head Aya Yoffe specialises in debt restructuring. Former practice co-head David Fohrer departed the firm in August 2020 to start an independent practice.

Practice head(s):

David Hahn; Aya Yoffe

Other key lawyers:

Ben Lipetz

Key clients

IDB Development Corporation Ltd.

Internet Gold Golden Lines Ltd

Alon Delek Ltd. – Alon Israel Oil Company Ltd.

Israel Petrochemicals Enterprises Ltd.

Office Depot Ltd.

Playboy Israel

Eliyahu and Yuval Orgad

EatWith Media Ltd.

KDM Engineering & Cranes Ltd.

Mekorot Water Company Ltd

CHS Inc.

Cx Technologies

Robin Hood Pro. Ltd

Dr. Jeff Brooks

OZ Vision Ltd

The National Insurance Institute of Israel

Work highlights

  • Advising Internet Gold Golden Lines Ltd. in relation to its ILS750m debt restructuring regarding its public bonds holders and other creditors.
  • Advising IDB Development Corporation Ltd. on negotiations with its bond holders in four series issued to the public – the total scope of the debt stands at approximately ILS2.7bn.
  • Acting as liquidator of Office Depot Ltd regarding its debt of approximately ILS50m.

Herzog Fox & Neeman

Herzog Fox & Neeman advises clients on the full range of corporate insolvencies, rehabilitation and restructuring issues. In addition, the team regularly assists with the implications of the new Insolvency and Rehabilitation Law, and has recently picked up a lot of work regarding the impact of Covid-19 on creditors' agreements with borrowers. Yaniv Dinovitch is highly experienced in insolvency litigation, having advised and represented numerous creditors and distressed companies throughout his career. Alan Sacks predominantly advises large financial institutions in connection with insolvency and restructuring issues. Seffy Zinger, Ehud Sol and Asher Dovev are also key contacts.

Practice head(s):

Alan Sacks; Ehud Sol; Yaniv Dinovitch; Asher Dovev; Seffy (Yosef) Zinger


‘The team members are outside-the-box thinkers and spend time with their clients, making sure the end goal is achieved in the most efficient way possible.’

‘Yaniv Dinovitch has extensive experience and a creative, problem-solving approach to matters. He stands out for being commercial, thoughtful, succinct, and incredibly responsive.’

‘Hugely experienced, having worked on all the major cases. Nothing surprises them.’

Key clients

Hutchison Group

CitiBank, N.A

Alitalia Società Aerea Italiana S.p.A

Newton Corporate Development, LLC

Ilwella Pty Ltd.

College of Law & Business

Sears Israel

YH Dimri Construction & Development Ltd.

Israel Electric Corporation

WSE Hong Kong Limited

Dolphin A.L


Israel Discount Bank

Work highlights

  • Represented the Hutchison Group in foreclosure proceedings over a controlling interest of Partner Communications.
  • Advised Citibank in relation to proceedings aimed at realising security provided by the Delek Group.
  • Advising Alitalia in connection with the cross-border consequences of the administration of the Italian airline.

Meitar Law Offices

Meitar Law Offices' large team specialises in creditors' arrangements, receiverships and rehabilitation processes. On the creditors' side, the firm is well known for advising Israel's major banks in connection with insolvency cases. Pini Yaniv is noted for his expertise in bankruptcy and restructuring mandates, in which he often represents creditors. Amir Dolev often serves as a court-appointed officer or trustee in insolvency proceedings.

Practice head(s):

Pini Yaniv; Amir Dolev

Key clients

Bank Leumi Le’Israel

Searchlight ll BZQ L.P.

Matomy Media Group Ltd

Honigman & Sons Ltd

Agadim Group

Menora Mivtachim

Gazprombank JSC

Cancelon Ltd.

March 29 Textile garment

Meitav dash

Bank Hapoalim BM

Bank Mizrahi Tefahot

Work highlights

  • Representing Bank Leumi in proceedings against various companies controlled by Eliezer Fishman and his family.
  • Defended Bank Leumi in motions filed by the liquidator of Tao Tsuot Ltd. seeking to attribute personal liability to the bank and suing it for $350m, as well as in another motion filed by the liquidator requesting the court to instruct the bank to pay the liquidator $150m.
  • Advised Searchlight ll BZQ L.P. on the acquisition of control of B Communications Ltd.

Shimonov & Co. - Law Firm

Shimonov & Co. - Law Firm displays particular strength in debt restructuring and insolvency litigation. In addition, the team often represents clients before the regulatory authorities and enforcement agencies. Amir Bartov, who leads the team, is currently advising Fattal Holdings on its debt arrangements, following financial difficulties resulting from the impact of the pandemic on the travel industry.

Goldfarb Seligman & Co.

Goldfarb Seligman & Co. took on certified public accountant Asher Engelman as a partner and chair of the corporate recovery and insolvency practice in 2019, enriching its comprehensive offering. The team’s range of work in this area includes advising clients during voluntary and involuntary liquidation and insolvency proceedings, bankruptcy proceedings and debt restructuring. Among his recent mandates, Engelman served as a court-appointed trustee for Ramat Rivon Parental Dormitories, achieving the sale of the company within 21 days of its filing for insolvency. Aaron Michaeli, Hagit Blaiberg and Zvi Bar-Nathan lead the team alongside Engelman.

M. Firon & Co Advocates and Notaries

M. Firon & Co Advocates and Notaries' attorneys have a wealth of experience serving as receivers for large corporations and as creditors' legal counsel. In addition, the team has a strong track record of handling debt arrangements on behalf of lenders and borrowers. Practice head Ron Bar-Nir is well known for advising and representing domestic and multinational companies with operations in Europe in relation to their commercial needs, including insolvency and restructuring matters.

Practice head(s):

Ron Bar-Nir  

Other key lawyers:

Shay Bar-Nir


‘Shay Bar-Nir is very experienced. He has the ability to predict what the court rulings will be and shape a strategy around this.’

Key clients

Special manager of Bio – Nexus

UFB Ltd.

Migdal Insurance Company

Ashtrom Group

Kika Israel Ltd

Elbit Systems Ltd.


Special manager of Shop Cloud

Trustee of Engel Europe Company

Debenture holders of Rilon Ltd.

Work highlights

  • Acted as a special manager to BioNexus, a cyber company in liquidation proceedings.
  • Advising Elbit Systems on the insolvency proceedings of Chim-Nir.
  • Acting as a trustee of Engel Europe, formerly a public company traded on the Tel Aviv Stock Exchange (TASE).

Naschitz, Brandes, Amir & Co.

The team at Naschitz, Brandes, Amir & Co. is led by Alona Baumgarten, whose extensive experience includes serving as a court-appointed liquidator, receiver and trustee in stays of proceedings and representing creditors in insolvency proceedings. Over the review period, the firm's highlights include serving as Globus Max's trustee regarding its debts of approximately NIS100m. Associate Ohad Harel has notable expertise in creditors' rights and bankruptcy proceedings.

Practice head(s):

Alona Baumgarten

Other key lawyers:

Ohad Harel

Key clients

Hapoalim Bank

Mercantile Discount Bank

Israel Discount Bank

Registrar of Fellowship Societies

Union Bank

Work highlights

  • Acting as the court-appointed trustee for Kal Nofesh, a tourism company that has accumulated debts of approximately NIS5m.
  • Acting as the court-appointed trustee for Discreet, an Israel-based fashion retailer that operates 45 stores in central locations all over the country.
  • Representing Clal Insurance Company Ltd. in the insolvency case of A. Dori, which opened at the end of 2019 and is part of a total of NIS30m in bad debt in respect of autonomous performance and quality guarantees that Clal has issued in leading projects.

S. Horowitz & Co

S. Horowitz & Co's team advises the full spectrum of clients in connection with insolvency and restructuring mandates, including corporate rehabilitations and receivership proceedings. Recently, the firm advised Israel Discount Bank regarding its position as a creditor of Eliezer Fishman's group of companies, following his bankruptcy. Ehud Arzi often represents creditors in large-scale bankruptcy cases, while Michelle Liberman is particularly experienced in bankruptcy and restructuring proceedings.

Practice head(s):

Ehud Arzi; Michelle Liberman

Key clients

Bank Hapoalim

American Apparel Retail (Israel) Ltd.

Warner Bros. Entertainment Netherland B.V

Liquidators of the Angel Group

Discount Bank Israel

Psagot Investment House and Training Funds for Teaching Staff B.V.

Tamarins Edom Ltd.

HSBC BANK PLC Israel Branch

Work highlights

  • Representing Bank Hapoalim in a large number of proceedings regarding the recovery of loans in excess of NIS1bn owed by the Kachtan Group.
  • Advising HSBC Bank plc, Israel branch, on negotiations with Delek Group regarding demands of additional securities to the loans given to Delek Group by HSBC.
  • Representing Warner Bros. in connection with the petition for a stay of proceedings filed by cinema chain Globus Max Ltd. in June 2017.

Yehuda Raveh & Co.

Yehuda Raveh & Co. specialises in advising creditors and debtors in connection with insolvency proceedings, debt restructuring, liquidation, credit settlements and various related matters. Over the last year, practice head Chagai Ulman served as the court-appointed receiver for Eurocom Real Estate in relation to its NIS1bn liquidation proceedings. Another key name to note is Noa Solomon Ben Meir, whose broad experience includes advising clients regarding complex debt restructuring arrangements.