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Insolvency & Restructuring

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Insolvency Proceedings
Restructuring and Creditor Arrangements

SMP is one of Israel’s top firms in the areas of insolvency and liquidation, and has successfully handled some of the largest and most complex insolvency cases in Israel’s history.


Among others, managing partner Isaac Molho was appointed as Special Manager of the Heftsiba Group of companies, a large group of construction and property development companies, including both privately owned and publicly traded companies, the insolvency proceedings of which were the largest in scope, and possibly the most complex, in Israel’s history; Or Hadash, a construction cooperative, the liquidation of which involved completing the construction of an entire neighborhood and dealing with thousands of apartment buyers and other creditors; Karta, a municipal company which left debts in excess of $100m, in which we were able to recover assets well in excess of the company’s original debts.


E.S.Shimron, I.Molho, Persky & Co. frequently appears before the courts, including the Supreme Court, in insolvency-related litigation proceedings and is frequently ranked among the top firms in insolvency and liquidation.

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Highlights

One of the largest liquidation cases ever handled in Israel

Since 2007, Adv. Molho, the Managing Partner of our firm, has served as Special Administrator of the Heftziba Group of Companies (comprised of approximately 26 companies, of which four are public companies). The liquidation of the Heftziba Group is one of the largest liquidation cases ever handled in Israel, and involves dealing with various matters concerning – amongst many other issues – approximately 4,500 families who bought apartments from the Heftziba Group of Companies.

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)