Important Decision on Secured Creditor Status

In Insolvency File 53732-11-20 (Dahaf v. Elyakim), the Tel Aviv District Court accepted the appeal submitted by the firm on behalf of its client determining, in a decision of general importance in insolvency law, that the registration of a cautionary note with the Land Registry provides its owner with the status of a secured creditor, and that this status is maintained even after the land asset is sold by a receiver on behalf of other secured creditors (i.e., banks with registered mortgages)