The Firm has the requisite expertise in all matters related to insolvency law, creditors’ arrangements and liquidations. The Insolvency Department serves as representatives of the courts and act as receivers, trustees and special managers, for various and varied cases. The Firm has been involved in several precedent-setting judgments. Following is a list of some of the cases and matters dealt with by the Firm in recent years in this field:
Ortam Sahar and Malibu Real Estate – A group of construction companies and entrepreneurs who traded on the Tel Aviv Stock Exchange and encountered difficulties in 2016 due to debts of over NIS 1 billion. Shaul Bergerson, Adv. and Yizhar Kanne, CPA were appointed trustees for the group. The companies were involved in the construction of 5,000 housing units in various projects throughout Israel. The trustees operated the companies for several months during which time construction was completed, with about 1,000 housing units in various projects. The trustees formulated a creditors’ arrangement for the companies, under which they were sold to new buyers who undertook to operate and continue the construction of some of the projects, as well as to provide warranty services for the completed projects.
Malibu and Ortam Sahar 2019 – The companies that were sold in 2017 undertook considerable contract work and entrepreneurial projects, but encountered difficulties and filed applications for a stay of proceedings. The companies were involved in the construction of 2,000 housing units. When these companies ran into difficulties, Shaul Bergerson and Yizhar Kanne were appointed trustees and worked to formulate a creditors’ arrangement which would allow for the sale of the companies and the completion of the housing units by the new buyers as well as by the clients in the projects not bought. After two months, a creditors’ arrangement was formulated, which allowed for the sale of the companies to new buyers.
Sasson Levy Ltd. – receivership and liquidation proceedings for a group of construction companies in Jerusalem, with the main project being a residential and offices project on Jaffa Street. Adv. Bergerson, along with the liquidators and the receiver, sold the project land for NIS 173 million.
N.I.L.I. Real Estate – After extended legal proceedings in various court settings, Adv. Bergerson, as receiver, succeeded in his role to advance the sale of the company’s real estate for NIS 235 million.
Cost 365 (in Liquidation) – Cost was a chain of supermarkets established by Hamashbir La’Zarchan. Adv. Bergerson along with an office holder were appointed liquidators of the company. As part of the liquidation, the joint liquidators sold the company’s branches for substantial amounts.
Burgeranch Mercaz (1983) Ltd. – The company, which operated a chain of 80 fast food branches throughout Israel and employed 1,200 employees, found itself in difficulties and could not continue to operate as a going concern. Adv. Bergerson was appointed receiver, along with other officeholders. The office holders and operated the chain for several months until its sale as a going concern.
Transactions for the Purchase and Sale of Real Estate and Businesses Related to Insolvency Proceedings
The expertise of the Firm in insolvency and real estate legal issues affords the Firm the ability and experience in counseling and handling complex purchase and sale transactions related to companies in recovery, liquidation, and receivership, especially in complex real estate transactions. Thus, for example, of the many transactions, one can note a transaction involving Tel Aviv’s Dizengoff-Frishman compound. There, notwithstanding the complexity, the Firm was able to formulate a transaction where entrepreneurs bought from the insolvent company the land and built a residential building that was later sold and populated.
Real Estate Planning and Construction, Evacuation – Construction
The Firm’s Real Estate Department provides all legal services required in this field, along with the highest standards of service and professionalism and a close personal relationship with clients.
Real Estate Transactions, Urban Renewal, and Evacuation – Construction – The Firm’s provides comprehensive professional attention for all types of real estate transactions, such as sale transactions, combination, transfer transactions, evacuation-construction transactions, etc. The legal care begins with the project initiation, onward to its completion, and includes contacts with builders, financiers, and project marketers, covering all areas required for the execution and realization of a real estate transaction, including planning and construction, negotiations with the planning authorities, construction contracts and more. The Real Estate Department places particular emphasis on real estate transactions related to urban renewal, such as evacuation-construction, and TAMA 38.
Legal Proceedings Relating to Real Estate – The Firm manages litigation and legal proceedings on all matters including evacuation claims, real estate partnership dissolutions, demolition claims, planning and construction proceedings at all relevant bodies, including local committees, appeals committees, district committees, administrative law courts, the Israel Land Authority Court. The Firm represents real estate-intensive companies such as Clalit Health Maintenance as well as business entities and individuals.
Legal Counsel and Real Estate Betterment – The Firm handles real estate management and betterment and monitors the betterment process with the various planning committees. Development and betterment of real estate and construction, from the planning stage, through the local and regional committees, to contracting with contractors, arranging the necessary financing, and building and selling the project. It should be noted that Adv. Galit Rozovsky serves as manager of northern Tel Aviv’s “Ha’Gush Ha’Gadol” compound.
The Firm provides litigation services in most areas of civil-commercial and administrative law, specializing in insolvency, real estate, planning and construction, tender law, class actions, corporations, and more. The Firm also specializes in handling complex land-sharing dissolution claims, as well as numerous eviction claims against protected tenants and squatters. The Firm has extensive experience and expertise in court appearances at all judicial instances. Representation also includes appearances at various non-court tribunals such as appeals committees, state authorities, and so on. The Firm also represents clients In the commercial field – receiverships and the liquidation of complex corporate structures, creditors’ arrangements, bankruptcies, and execution office matters.
Legal representation in real estate matters – land-sharing dissolution claims, eviction notices, planning and construction proceedings, representation before local committees, appeals committees, district committees, administrative courts, proceedings before the Israel Land Authority.
Legal representation vis-à-vis various civil proceedings, including class actions – the Firm handles numerous commercial- civil lawsuits and has, for many years, managed class actions with an emphasis on representing defendants. Many large food companies, health maintenance organizations, and various commercial companies are clients of the Firm.
Legal representation of tenders – The Firm works on tenders published by large entities. Legal support includes writing tenders, advising tenders committees and professionals, handling tender auctions, real estate infrastructure, etc. Managing legal procedures both as a representative of the tender issuer and as representative of the tender participants, defense of decisions of the tenders committees, administrative petitions, etc.
CofaceBdi Combined risk index summary for October 2017 Deterioration in the Combined risk index of Israel’s economy * About 13.25% of the companies were rated in high and dangerous risk levels * Heading the weak and dangerous branches: Coffee shops and Transport services * Heading the strongest and secure branches: Pharmaceutical and cosmetics industry and […]
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