Firms To Watch: Restructuring and insolvency

Led by Idan Miller, who joined from AYR – Amar Reiter Jeanne Shochatovitch & Co in October 2022, the team at Barnea Jaffa Lande & Co. advises corporations in financial distress, in addition to handling creditors’ arrangements and insolvency proceedings.

Restructuring and insolvency in Israel

Amit, Pollak, Matalon & Co. Advocates and Notary

Counting leading domestic banks and financial institutions among its key roster of clients, Amit, Pollak, Matalon & Co. Advocates and Notary acts as trustee or receiver in insolvency proceedings, bankruptcies and receivership cases, in addition to acting as liquidator in high-profile mandates. Erez Haver leads the team and has considerable experience in matters concerning insolvency, liquidation, reorganisation and receiverships, as well as credit and debt settlements. Other key contacts in the group include Moran Mordechay, who acts for clients forced into insolvency proceedings, and counsels Tzipi Kolp Frieder and Limor Segman.

Practice head(s):

Erez Haver

Other key lawyers:

Moran Mordechay; Tzipi Kolp Frieder; Limor Segman

Key clients

Ashplast Plastic Trade & Industries 1999 Ltd.

Bank Hapoalim (TASE: POLI)

Bank Leumi Le-Israel BM (TASE: LUMI)

Clock Square Ltd.

Harel Mall debenture holders

Israel Discount Bank Ltd. (TASE: DSCT)

Mercantile Discount Bank Ltd.

Mhamid Tawfik – Building and Development Ltd.

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

Michman Group

Fritz Companies Ltd.

Work highlights

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

Arnon, Tadmor-Levy

Arnon, Tadmor-Levy acts as court-appointed officers, including as liquidators, trustees, observers, and special managers, in high-stakes insolvency proceedings, with additional capability in restructurings, liquidations and debt arrangement mandates. Key clients range from domestic banks to public companies and institutional investors. Yuval Bargil, who focuses on commercial liquidation, bankruptcies and creditors' rights, spearheads the offering from Jerusalem alongside Amnon Lorch. Gil Oren represents public companies in debt arrangements and restructurings, and jointly leads the Tel Aviv-based practice alongside Danit Rimon, who handles corporate recovery matters, insolvencies, creditors’ arrangements, and rehabilitation of distressed companies.

Practice head(s):

Yuval Bargil; Amnon Lorch; Gil Oren; Danit Rimon

Other key lawyers:

Eyal Aichel


‘Gil Oren is very responsive, giving answers on a prompt and accurate basis.’

Key clients

Israel Ministry of Justice

Arbel Fund

Nomura International PLC

Eurocom Communications Ltd.

Africa Israel Industries

Globus Max Ltd.

Packer Construction Steel LP

NMC United Entertainments Ltd.

Habas Investments Ltd.

Tcm International Trade Ltd

Nam 5 Ltd.

Trax Retail Solutions Ltd.

Victory M. Marketing Ltd.

Fifth Dimension Holdings Ltd.

CIB Bank

Homat Magen Defense Technologies

Tuboul Ceramics Ltd.

GlobaLinks Group

Bakal Zamir Real Estate Ltd.

Magisto Ltd.

Rounds Ltd.

Bank Leumi LeIsrael BM

Israel Discount Bank Ltd.

Mizrahi Tefahot Bank Ltd.

FIBI- First International Bank of Israel

Constru Ltd.

Global Factoring

Lipsker & Co. Engineering Services Ltd.

Polysack Flexible Packaging Ltd

Max It Finance Ltd

Israel Weapon Industries (IWI)

Y.H. Dimari Building and Development Ltd.

Work highlights

  • Appointed by the court as trustee for the insolvency proceeding of Ability Inc.
  • Appointed by the court as trustee for the insolvency proceeding of Tcm International Trade Ltd.
  • Appointed by the court as trustee for the insolvency proceeding of Constru Ltd.

Erdinast, Ben Nathan, Toledano & Co

The ‘highly professional and service-oriented’ team at Erdinast, Ben Nathan, Toledano & Co maintains a robust restructuring and insolvency practice, with demonstrable experience advising on bondholder mandates concerning distressed companies. ‘Extremely smart, hardworking, and tenacious negotiatorsAlon Binyamini and Raanan Kalir jointly lead the team; Binyamini focuses on creditors’ arrangements and insolvency mandates, in addition to directors’ and officers’ liability issues, while Kalir is routinely appointed by courts, serving as special manager, liquidator receiver or trustee. Other key contacts in the group include associates Tomer Shaked and Yarden Rosenbush.

Practice head(s):

Alon Binyamini; Raanan Kalir

Other key lawyers:

Tomer Shaked; Yarden Rosenbush


‘Highly professional and service-oriented.’

‘Super smart, creative and detailed-oriented.’

‘Raanan Kalir and Alon Binyamini are a great team, work extremely hard and are very effective in achieving results for their clients.’

‘Raanan Kalir and Alon Binyamini are extremely smart, hardworking and tenacious negotiators, and very effective in achieving positive results for their clients.’

Key clients

Holders of Delek Debentures

Holders of Israel Petrochemical Enterprises Debentures (TASE: PTCH)

bondholders of Hertz Properties Group Limited

Holders of IDB Development Ltd. Debentures

Alon Blue Square (TASE: BSI)

Holders of Altitude Debentures

Gibui Holdings Ltd (TASE: Gibui)

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

Holders of Arazim Investments Ltd. Debentures

“Excellence” Investment House (subsidiary of Phoenix)

Series M bondholders 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.

More Investment House Ltd.

Bull Trading and Investment Ltd. (TASE: BULL)

Work highlights

  • Representing NSO Group Technologies in its debt restructuring.
  • Represented the bondholders of 4 different series of Israel Petrochemical Enterprises with a total debt of approximately NIS1.5bn.
  • Acted as trustee for Gibui Holdings Ltd., a public company engaged in providing non-bank credit, after it collapsed.


Praised for its ‘extensive knowledge and experience’, FISCHER (FBC & Co.) acts for a diverse client roster, from debtors, investors, and asset purchasers, to secured and unsecured creditors, bondholders and directors of distressed companies. Maintaining a strong track record in corporate restructurings, liquidations, receivership proceedings and bankruptcies, the team is led by Amit Pines, who is commended as ‘one of the most prominent practitioners in the field of restructuring and insolvency’. Lihi Blumenfeld has a ‘wealth of experience’ in matters concerning liquidation and receivership procedures of corporate insolvency. Other key contacts in the group include senior associate Tal Arazi and associate Omer Salzberg.

Practice head(s):

Amit Pines

Other key lawyers:

Lihi Blumenfeld; Tal Arazi; Omer Salzberg; Aviad Gurman; Michael Shachar


‘The team is the most knowledgeable team in the insolvency field in Israel.’

‘Lihi Blumenfeld has deep knowledge of insolvency law.’

‘Amit Pines is no doubt one of the most prominent practitioners in the field of restructuring and insolvency. Brilliant, sharp, and smart.’

‘Tal Arazi is thorough, independent and creative. He controls the details and sees the big picture at the same time.’

‘Extensive knowledge and experience.’

‘Amit Pines is a leading Israeli attorney for insolvency.’

‘Lehi Blumenfeld has a wealth of experience and broad knowledge. She is meticulous about the details and makes balanced and quality decisions.’

Key clients

Celsius & GK8

Jesselson Capital Corp

Bank Mizrahi-Tefahot Ltd.

Bachar Group

Hermetic Trust (1975) Ltd.

Unet Credit Ltd. Bond holders

The Department of the Official Receiver at the Ministry of Justice

BEITA Group Ltd.

Hashalom 91 Ltd.

Mr. Lev Leviev

Tarya P2P

Royal App Ltd.

Taaman food marketing ltd.

Mr. Sprinkler / mr. Moti Reef

Sky Sapience Ltd.

Landco Israel Entrepreneurship Management Ltd.

Kenyon Harel Ltd.

Bonaich Lebnia Leami Ltd.

S. Tanous Construction and Developing Ltd.

Main Shareholders of On Track Innovations ltd.

Mr. Jerry L. Ivy

Mr. Boaz Sarusi & Mr. Roni Sarusi

Mr. Nissim Zimber

Shareholders of Asik Infrastructure Ltd.

Mercantile Discount Bank Ltd.

Bank Hapoalim Ltd.

Mr. Joseph Grunfeld

Chavmal Ltd.

Melisron Ltd.

Ayalon Insurance Company Ltd.

Otsar Aviel Ltd.

Noveto System Ltd.

Soltam Radad Ltd.

Work highlights

  • Representing Hermetic Trust (1975), the trustee for bondholders (series 9) of IDB Development Corporation, an unsecured creditor in the sum of NIS913m, in a restructuring.
  • Acting for entities belonging to the Celsius Network group of companies in the sale of the business of GK8 Ltd., as part of U.S. Chapter 11 proceedings, to Galaxy Digital Trading.
  • Representing Bank Mizrahi-Tefahot, as creditor, in the insolvency matter of Tahal Group.

Gornitzky & Co.

The team at Gornitzky & Co. represents distressed corporations, creditors, shareholders, financial institutions and private equity sponsors in insolvency and corporate restructuring mandates. Praised as ‘incredibly commercial and deeply knowledgeable’, Yaron Elhawi handles high-stakes insolvency cases and jointly leads the team alongside Karen Reichbach-Segal, who has experience in liquidations, receiverships, and insolvencies. ‘Pragmatic and deal-orientedAmnon Biss advises on debt settlements in litigation mandates and is frequently engaged by creditors. Firm chairman Pinhas Rubin and Ofer Tzur, who spearheads the litigation department, are also key contacts in the team.

Practice head(s):

Yaron Elhawi; Karen Reichbach-Segal

Other key lawyers:

Amnon Biss; Pinhas Rubin; Ofer Tzur; Kfir Yadgar; Guy Ido


‘The team at Gornitzky are extremely smart, highly knowledgeable and well-trained, as well as practical and business-oriented.’

‘Amnon Biss has an amazing attention to detail, but is pragmatic and deal-oriented. He is also very personable, likeable and a pleasure to work with.’

‘The best team, who respond quickly, are very commercial and have great experience.’

‘Yaron Elhawi is incredibly commercial and deeply knowledgeable.

Key clients

Secured bondholders of All Year Holdings Limited

Bank Hapoalim Ltd.

The Unsecured Creditors’ Committee of Celsius Network LLC

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

Oil Fields Exploration (1992) – Limited Partnership

Secured Creditors of Amos Spacecom

Iron S.B.T. Group Ltd.

Bank Hapoalim – largest creditor of the Eurocom Group (in liquidation) of Shaul Elovitch

Honigman & Sons Ltd.

Liquidators of Agrexco Agricultural Export Co. Ltd.

TGI Real Estate Investment Ltd.

Delek Group Ltd.

Bank Hapoalim Ltd. – insolvency of ‘Ramat Hagolan Dairies’

Royal App. Ltd. (in liquidation)

Smart Entertainment Ltd.

Wertheimer Family – owners of Tefen Open Museums

Geffen Hedge Funds Management Ltd.; Cramim Capital Markets Ltd.

Amit A.E Maafe Conditorya Ltd

Work highlights

  • Advising the Israeli secured bondholders of All Year Holdings in its cross-border insolvency.
  • Acting for secured creditors in negotiations with all stakeholders to achieve a debt restructuring agreement in accordance with the recently updated insolvency law.
  • Represented the former officers of the now-defunct Better Place Group in a motion to dismiss a claim filed by the companies’ liquidators against 22 defendants.

Lipa Meir & Co

The team at Lipa Meir & Co stands out for its track record in high-stakes domestic and cross-border restructurings, with experience in insolvency litigation, including before the Supreme Court. Founding partner Lipa Meir jointly leads the team alongside Zuriel Lavie, who specialises in corporate rehabilitation and reorganisations, creditor’s arrangements, receiverships and liquidations. Shirley Ifrach-Azor rounds out the leadership trio and is frequently engaged by creditors in insolvency and restructurings proceedings. Key sectors of expertise include education, retail, transport, engineering and financial services.

Practice head(s):

Lipa Meir; Zuriel Lavie; Shirley Ifrach-Azor

Key clients

Data443 Risk Mitigation

Israel Land Development Company

Klirmark Opportunity Fund III, LP

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

Meshek Wings Tour Ltd.

Negev Ecology – Allied Group

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


Rubicon Group and Kela Fund

Haim Paskovich & Sons Ltd

Work highlights

  • Acting for two companies in the importing and marketing of frozen food products in their insolvency proceedings.
  • Acting for the Israel Land Development Company in various insolvencies, including the insolvency process of Anis.
  • Represented the Mega Retail Group in all of its restructuring and insolvency proceedings, including Chapter 11 proceedings.

Friedman, Yunger & Co. Advocates

The ‘cooperative and professional’ team at Friedman, Yunger & Co. Advocates has been appointed by multiple courts in liquidation proceedings, and is noted for its capability in restructuring, insolvency and bankruptcy mandates. Itzhak Yunger has experience in representing creditors and debtors in insolvency proceedings, and jointly leads the team alongside Dan Friedman, who is noted for his expertise in the public sector, retail, insurance and financial services industries. Yshay Meirsdorf is another key contact in the group.

Practice head(s):

Itzhak Yunger; Dan Friedman

Other key lawyers:

Yshay Meirsdorf


‘Cooperative and professional.’

‘Smart, productive and available.’

‘Professional, thorough and they fight for their clients.’

‘Pleasant, available, creative and smart.’

Key clients

Logis Ofer Ltd

80 Apartment owners in Towers C and D in “Tel Aviv towers”

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

Lotus civil engineering Ltd

Hapoel Petach Tikva Football Club

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

“Lubavitch” Chabad Institutions

Work highlights

  • Appointed as a trustee of the Beitar Jerusalem football club due to the team’s financial difficulties and the owner’s desire to sell the team.
  • Appointed as a special administrator to B.S.R. Europe (under liquidation).
  • Acting for A. Dori Construction in a litigation civil lawsuit against a company undergoing liquidation.

Gissin & Co., Advocates

Creditors, shareholders, domestic banks and corporations all feature in the client list of Gissin & Co., Advocates' restructuring practice, which stands out for its capability in handling bondholder matters, with additional experience in receiverships, liquidations and recovery of distressed companies. Yael Hershkovitz leads the team and advises on bondholders’ debt settlements, as well as cross-border restructurings and insolvency proceedings. Guy Gissin, who focuses on complex debt arrangements, is another key contact in the group.

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. acts as receiver, liquidator and trustee in insolvency and debt settlement proceedings, and counts issuing companies, trustees of debenture holders and debenture holders, shareholders, investors, directors and executives among its roster of clients. Senior counsel David Hahn acts for clients in insolvency and corporate recovery proceedings, while Aaron Michaeli frequently represents senior officials in debt settlements and insolvency cases, particularly in related litigation proceedings. Other key contacts in the group include Aya Yoffe, and Hagit Blaiberg, who acts for domestic corporations and financial institutions as creditors in insolvency cases. Asher Engelman left the firm in September 2022 to become the Official Receiver of the Israel Justice Ministry.

Practice head(s):

David Hahn; Aaron Michaeli; Hagit Blaiberg; Aya Yoffe

Key clients

Alon Israel Oil Company Ltd.

Dor-Alon Energy In Israel (1988) Ltd.

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

Addoox Media Ltd. (in Voluntary Liquidation)

Albar Engineering Supervision and Project Management Ltd.

Alon Delek Ltd. – Alon Israel Oil Company Ltd.

Alotera Group Ltd.

AORA Solar Ltd.

BE Drugstores Ltd.

Black Spruce Management LLC

Castro Model Ltd.

CHS Inc.

Cx Technologies

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

Dr. Jeff Brooks

EatWith Media Ltd.

Elad Israel Residence Ltd.

Eliyahu and Yuval Orgad


Fidelis Partners

I.D.I. Insurance Company Ltd.

Internet Gold Golden Lines Ltd.

ION Terra

Israel Discount Bank Ltd.

Israel Petrochemical Enterprises Ltd.

Kardan Israel Ltd.

Kardan Yazamut (2011) Ltd.

KDM Engineering & Cranes Ltd.

Logistipharm Ltd.

Matrix IT Ltd.

Maven Wealth Management

Mekorot Water Company Ltd

Menora Mivtachim Insurance Ltd.

Mr. Haggai Alon


Mr. Alan Saskin

Mrs. Doreen Saskin

Nahor Ltd.

Naveh – Gad Building Development Ltd.

New Lineo Cinema (2006) Ltd.

Office Depot Ltd. (in liquidation)

Orkal Solutions Ltd.

OZ Vision Ltd

Pentalum Technologies Ltd.

Playboy Israel

Ramat Tivon Parental Dormitories Ltd.

Ramat-Hanasi Gav-Yam Rassco Ltd.

Related Commercial Portfolio Ltd.

RiT Technologies Ltd.

Robin Hood Pro. Ltd

Sapac Trading Ltd.


Shapir Civil and Marine Engineering Ltd.

Shareholders in Captain Curry Ltd.

Shufersal Ltd.

S-Israel Ha-Rechassim 30

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

Tapugan Industries Ltd.

Tarya P2P, Ltd.

The Israel branch of Wall Street English

The National Insurance Institute of Israel

Therapix Biosciences Ltd.

Treato Ltd.

Ultraplast Technologies 2018 Ltd.

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

WB Debt Acquisition LLC

Work highlights

  • Representing Israel Petrochemical Enterprises in a large scale debt restructuring involving several separate transactions amounting to NIS2bn.
  • Representing Mekorot as a potential creditor and client of insolvent party Tahal Group.
  • Representing Naveh – Gad Building Development and Ramat-Hanasi Gav-Yam Rassco, as creditors in the insolvency proceedings of the Ortam-Malibu Group.

Herzog Fox & Neeman

The ‘pragmatic, commercial, and innovative’ team at Herzog Fox & Neeman handles a range of rehabilitation and restructuring mandates, with noteworthy experience in representing secured and unsecured creditors in insolvency and bankruptcy proceedings. ‘A star in the industry’, expert litigator Yaniv Dinovitch has demonstrable experience in cross-border corporate insolvency issues, while of counsel Alan Sacks counts banks and other financial institutions among his key roster of clients. Dinovitch and Sacks jointly lead the team alongside Asher Dovev.

Practice head(s):

Alan Sacks; Yaniv Dinovitch; Asher Dovev


‘The team provides a pragmatic, commercial, and innovative approach. They are commercially minded and offer quick advice, with market leading practical experience.’

‘Yaniv Dinovitch is hardworking, tactful, knowledgeable, creative with a clear focus on clients’ desired outcome. He is at the top of the ladder in the insolvency and restructuring field.’

‘Yaniv Dinovitch combines incredible legal knowledge with solutions-oriented advice. His work combines specialist legal expertise with sharp tactical mindset of a prominent litigator. Yaniv is efficient, responsive, and strategic. Definitely a star in the industry.’

Key clients

Hutchison Group

HSBC plc

European Investment Bank

Israeli Railways authority

Dataflow Security SRL

CitiBank, N.A, London Branch

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

HPIB (Israeli Branch)

Big Dutchman International GmbH

Ilwella Pty Ltd.

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)

CTS Eventim Israel Ltd

Israel Discount Bank

Credit Suisse (London branch)

Leumi Bank Le-Israel Ltd

Jerusalem Bank

Meitav Dash

Ayalon Insurance Company


Hon Hai Precision Industry Co. Ltd (Foxconn Group)

D.N.A Financing services, cooperative society

Local Government Economic Services Ltd. (Mashcal)

Barzani Urban Renewal Ltd



Work highlights

  • Nominated by the District Court of Beer-Sheva as receiver and trustee of an Israeli fuel company.
  • Representing the Italian Extraordinary Administrators of Alitalia Società Aerea Italiana (in extraordinary administration) in the insolvency proceedings concerning its Israeli branch.
  • Representing HSBC as a secured lender concerning the insolvency of Tahal Consulting Engineers.

Meitar Law Offices

The ‘professional and collegial team’ at Meitar Law Offices handles a broad range of receivership mandates, creditor’s arrangements and rehabilitation proceedings, with additional capability in representing creditors in creditor rights disputes. Experienced litigator Pinni Yaniv frequently represents domestic and international creditors, with demonstrable experience in bankruptcy and reorganisation cases. Yaniv jointly leads the team alongside Amir Dolev, who is noted for his expertise in contentious bankruptcy mandates.

Practice head(s):

Pinni Yaniv; Amir Dolev


‘A professional and collegial team to work with.’

‘Pinni Yaniv is a very good lawyer; kind and experienced in the insolvency field.’

Key clients


Forever 8 Fund, LLC

A. HaOmmer Chagai Investments Ltd

Gmul Investments

Mayer’s Cars and Trucks Ltd.

Nava Gottesman

Bnei George Shukha Ltd.

Honigman & Sons Ltd.

Agadim Group

Metea Maritime Company Ltd. & Vanora Maritime Company Ltd.

The Tel Aviv Family Matters Court

Work highlights

  • Advised an international consortium of lenders in control struggle over a company of the NSO group of companies.
  • Advised Forever8 Fund in negotiating and reaching agreements with the court trustee appointed over the online commerce entities of the TCM group of companies
  • Acting as trustee of Gmul Investments.

Shibolet & Co.

Counting Israeli banks and domestic companies among its list of key clients, the practice at Shibolet & Co. is regularly appointed as trustee in liquidation and receivership proceedings, with additional expertise in bankruptcies, reorganisations and insolvencies. Joseph Benkel, whose ‘knowledge and experience of litigation across multiple jurisdictions is unparalleled’, jointly leads the team alongside Amir Frankl, who spearheads the bankruptcy, receivership and reorganisation group, and represents creditors and debtors on matters concerning distressed companies and liquidation of real estate and property. Associate Omer Bar Ilan is another key contact in the group.

Practice head(s):

Joseph Benkel; Amir Frankl

Other key lawyers:

Omer Bar Ilan


‘Joseph Benkel is a master tactician.’

‘Joseph Benkel is a standout practitioner. His knowledge and experience of litigation across multiple jurisdictions is unparalleled. He sees the bigger picture, while understanding the significance of the details.’

‘Great team, handling high-profile cases.’

‘Joseph Benkel is truly outstanding.’ 

Key clients

Medo Business Ltd.

Tapuday Hashlosha Ltd.

Ariel Bonus Ltd.

Lavier Israel Ltd.

S.D.I Marketing And Production Ltd.

Ultra Bin Ltd.

Central Bus Station in Tel-Aviv

Eliezer Fishman

Hashkaot Kedayot Ltd.

Tirzalit Ltd.

Fishman Family Properties Ltd.

Fishman Family Properties Management (1988) Ltd.

Inventech Central Hotels Ltd.

Maavar Ltd.

Alexion Pharmaceuticals Inc.

Echtman – Engineering corp. Ltd.

Work highlights

  • Acting in bankruptcy proceedings of Mr. Eliezer Fishman, who was appointed as trustee, with debts summed up to circa NIS4bn to the Israeli banks, as a result of personal guarantees and tax debt.
  • Acted for the Central Bus Station in Tel Aviv in a competitive process for the sale of the companies’ assets in consideration of a total amount of NIS320m.
  • Representing the trustee of the creditors’ composition of Inventech Central Hotels LTD (in liquidation).

AYR – Amar Reiter Jeanne Shochatovitch & Co

With demonstrable experience across the telecoms, real estate and construction, financial services and retail sectors, AYR – Amar Reiter Jeanne Shochatovitch & Co handles a range of liquidations and receiverships, in addition to bankruptcy and insolvency proceedings. Amit Lederman leads the team and has experience in insolvency cases, executing debt settlements and managing companies in rehabilitation and receivership proceedings. Other key contacts in the group include Dorit Karny and Wassim Sibat.

Practice head(s):

Amit Lederman

Other key lawyers:

Dorit Karny; Wassim Sibat

Key clients

Marathon 018 Xphone Ltd.

Bikov Group Ltd

Knesset Israel and Otzar Ha-hesed Associations

Yuvalim City-Boy Ltd

Michal-Negrin Ltd

Smart-Pharm Ltd

Asik Infrastructures Group

S.M.N Renovations and Scaffolding Ltd.

Ultraplast Industries Ltd.

Bnei Baker Zoabi Construction Ltd

Elran (D.D) Investments Ltd.

Ashbel Technologies Ltd.

Mercantile Discount Bank Ltd.

Morya Group

Unet Credit Finance Services Ltd

Nidam Communications Ltd. and Nidam Global Ltd

Rahmani D. Earthworks Ltd

MHR1 Investment Management Ltd


Work highlights

  • Represented Unet Credit Finance Services, the off-bank credit in the voluntary settlement process with its creditors.
  • Serving as a trustee on behalf of the court for the operation and proper management of the Morya Group.
  • Representing private investors who invested in the projects of MHR1 Investment Management and have not received returns on their investments.

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

Doron, Tikotzky, Kantor, Gutman, Nass, Amit Gross & Co. handles a broad range of mandates, from corporate recoveries and executing debt arrangements to creditor settlements, liquidation and receivership proceedings. Key clients include public corporations, retail chains, non-profit organisations and industrial companies, among others. Former practice head Shlomo Nass left the firm in February 2024, and Shai Glickman now acts as director of the insolvency department.

Practice head(s):

Shai Glickman

Other key lawyers:

Yonatan Gamarnik


The firm houses a professional team.’

Key clients

Univo Pharmaceuticals Ltd

Cannamove Ltd

U N V Medicine Ltd

U N V Marketing and Distribution

Amit Oren Farm Ltd


Y. Edri & Sons Metal and Civil Engineering Ltd

Alpha-Cut Metal Cutting and Processing Ltd.

Marisaat A.A. Earth & Development Ltd

S.A.S Development Works Ltd


Gruper Ltd.

Kadisha Rishon Lezion Amutta

Ness Polymers Ltd

Work highlights

  • Advising a group of five companies that cultivate, produce, and market medical cannabis products, covering all aspects of production and sales.
  • Representing NOAL SCSP Fund in its application to the District Court for the appointment of a trustee.
  • Appointed as a trustee for Y Edri & Sons Metal and Civil Engineering, Alpha-Cut Metal Cutting and Processing.

FWMK (Furth, Wilensky, Mizrachi, Knaani)

Commended for its ‘extensive experience in conducting cross-border insolvency proceedings’, FWMK (Furth, Wilensky, Mizrachi, Knaani) is well-placed to advise on liquidations and creditor arrangements, in addition to bankruptcies, receiverships and debt arrangements. ‘Exceptional lawyerLior Dagan leads the team and frequently serves as court-appointed officer, with additional experience in representing creditors in insolvency proceedings. Idan Adler Reiss is another key contact in the team.

Practice head(s):

Lior Dagan

Other key lawyers:

Idan Adler Reiss


‘FWMK has extensive experience in conducting cross-border insolvency proceedings.’

‘In the last two years, through extensive cooperation with Lior Dagan, I had the opportunity to see for myself his commitment, large base of knowledge, contacts and exceptional collegial, professional and moral qualities. Lior Dagan is among the most dedicated colleagues I have had the opportunity to work with.’

‘The team are very collegial, prompt and equipped with significant skills.’

‘Their advice has always been reliable and correct. Significant legal recoveries have been achieved.’

‘Lior Dagan is an exceptional lawyer.’

‘A highly experienced team with outstanding knowledge of insolvency. Great client dedication and fair billing.’

‘Lior Dagan is an excellent insolvency practitioner, strong focus and dedication to solutions.’

‘The FWMK team is exceptional in providing their legal inputs when it comes to the matters of restructuring and insolvency. The team provides reliable expertise and high-quality advice in our collaborations.’

Key clients

Sheahan Lock Partners.

EGFE Israel Ltd


EGFE Hungary KFT

Michael Ben Ari

Vaniglia Group

Intercure Ltd.

SG Holdings and Investments Ltd

Shmuel Donnerstein

Boaz Koren and 100 investors who invested in AGA holdings (Kenyon Harel)

GKI Group and Gal Kalkstein

Orckit Communications Ltd

Michael (Miki) Iluz

Zvi Rotbart

Eitan Mordechai

Zehav Arbiv

Adv. Assaf Shomrat, the court appointed trustee of INVEST DOT COM (ISRAEL) LTD and IDC Investdotcom Holdings Limited

Guy Peleg

Cogito Capital

Livne Real Estate Management and Development Ltd.

Oram Investments and Development (2008) LTD

Toam financing Ltd.

Work highlights

  • Acting as trustee in a $200m Ponzi scheme case involving Michael Ben-Ari (in insolvency) and his companies (in liquidation).
  • Represented an owner of a dairy farm, in a creditor settlement case, navigating the separation of the farm from the Agricultural Cooperative Society of Moshav Ahisamakh under liquidation.
  • Represented Adv. Shomrat, the court-appointed liquidator of IDC Investdotcom Holdings, in an insolvency motion against IDC.

M. Firon & Co Advocates and Notaries

Counting domestic and international companies among its key roster of clients, M. Firon & Co Advocates and Notaries has been kept busy assisting with insolvency proceedings, including the management and representation of clients in debt arrangements. Senior managing partner Ron Bar-Nir, who splits his time between Bucharest and Tel Aviv, jointly leads the team alongside Shay Bar-Nir, who specialises in insolvency cases, including liquidation and rehabilitation proceedings. In February 2024, the team was additionally strengthened with Shlomo Nass from Doron, Tikotzky, Kantor, Gutman, Nass, Amit Gross & Co.

Practice head(s):

Ron Bar-Nir; Shay Bar Nir

Other key lawyers:

Shlomo Nass


Shlomo Nass is one of the leading lawyers in the restructuring and insolvency field.

Key clients

Migdal Insurance Company


Mega Or

Shaked Partners

Mevasert Mall

El Srad



Europe towers

Y.B See resources


Panorama Center

Work highlights

  • Representing Panorama Center in an application for an order to open insolvency proceedings filed by Shahaf Security in June 2023.
  • Appointed by the Lod District Court and the Tel Aviv District Court as a liquidator/administrator/trustee in numerous cases.
  • Representing Dilon, which acquired the operation of Dune Medical Devices, an Israeli company which was subject to insolvency proceedings.

Naschitz, Brandes, Amir & Co.

Counting corporate entities, financial institutions and high-net-worth individuals among its key roster of clients, Naschitz, Brandes, Amir & Co. acts for creditors in insolvency proceedings, with additional expertise in restructurings, bankruptcies, receiverships and liquidations. Alona Baumgarten, who is praised for her ‘extensive experience in the field of insolvency’, leads the team and serves as a court appointed liquidator, receiver or trustee in stay of proceedings.

Practice head(s):

Alona Baumgarten


‘Alona Baumgarten has extensive experience in the field of insolvency. Her ability to find quick solutions to solving problems in insolvency cases is extraordinary.’

Key clients

Globus Max

Tanus Construction and Development

Bank Hapoalim

Clal Insurance Enterprises Holdings Limited.

Union Bank

Na’ot Ha’Pisga, Modi’in Ilit Ltd.

Leadcom Integrated Solutions Limited.

Saba Habib Olive Oil Ltd.

Mercantile Discount Bank

Israel Discount Bank

Innovative Patents and Tisteron Ltd

Mordechai Binyamin and Sons Earthworks (1993) Ltd.


Shtula Metal-G.

The AMI Project Initiatives Group Ltd.


Registrar of Fellowship Societies

M.R.A Pharm and Hassan Khalaila

Mazada Refael Tours


ARD Aviv Holdings

Shachaf Security

Bone HaZafon

Unet Credit Finance Services




S. Horowitz & Co

Commercial banks and other financial institutions are among the clients of S. Horowitz & Co, which is well placed to leverage the expertise of the firm’s banking and finance and disputes departments to handle restructurings, workouts and insolvencies. Ehud Arzi leads the team and advises on contentious banking mandates, with additional experience in representing creditors in rehabilitation proceedings. Ran Feldman is a key contact for liquidations, bankruptcies and receiverships.

Practice head(s):

Ehud Arzi

Other key lawyers:

Ran Feldman

Key clients

Israel Discount Bank Ltd. (TASE: DSCT)

Bank Hapoalim Ltd. (TASE: POLI)

Bullguard Israel ltd.

ThyssenKrupp Presta AG

Evature Technologies (2009) Ltd..; B.V

Syndigo LLC



Work highlights

  • Representing Discount Bank in Eliezer Fishman’s bankruptcy.
  • Representing Bank Hapoalim in recovery proceedings of loans exceeding NIS1bn.
  • Advised on the voluntary liquidations of Bullguard Israel, Omen Die Casting Group, and Evature Technologies (2009).

Yehuda Raveh & Co.

Noted for its expertise in real estate-related restructuring and liquidation proceedings, the team at Yehuda Raveh & Co. maintains a strong track record in court-appointed insolvency mandates. Chagai Ulman leads the practice and serves as court-appointed trustee in high-profile domestic bankruptcies, while counting private enterprises and public companies among his client base. Noa Solomon Ben Meir, who has experience in handling reorganisations, liquidations, bankruptcies and receiverships, is another key contact in the group.

Practice head(s):

Chagai Ulman

Other key lawyers:

Noa Solomon Ben Meir

Key clients

Eurocom Real Estate

Creditors of Eurocom Real Estate

IDB Holdings

The Hadassah Women’s Zionist Organization

Israel Discount Bank and Bank of Jerusalem

Naot Hapisga Modi’in Illit Ltd.

Creditors of Alon Israel Oil Company

Creditors of Kardan Real Estate

El Al Pilots

Amitim Pension Fund (Creditors of Delek Group)

Yalin Lapidot Investment House (Creditors of Tshuva Group)

Expo Fund



Special Expertise: Insolvency in Non-Profit Organizations

Special Expertise: Insolvency in Real Estate Acquisition Group


Yesodot Group

M.S. Remix Moving Ltd.

Work highlights

  • Acted for Alon Group’s creditors in filing a petition for debt settlement, which eventually saw the transfer of the company’s shares and assets to its creditors.
  • Acted for Heftziba, an Israeli construction company, after it went bankrupt with NIS1.6bn in debts.
  • Appointed special administrator of the Adama Group, continuing to act in relation to its liquidation.