Bankruptcy
International Debt Collection – How to Collect Money from Israeli Debtors
International debt collection, between Israel and other countries, is naturally far more complex than collecting from a debtor in the same country. This situation raises many legal questions, including: How do you sue in Israel? What is customarily done beforehand? And what happens if even after winning the lawsuit, the defendant refuses to pay? These…
Read MoreTemporary Foreclosure Order in a Civil Lawsuit and Writ of Execution
A temporary foreclosure order allows a plaintiff in a civil lawsuit ensure to that, if he wins the lawsuit, he will receive the compensation he deserves. Just as a stay of exit order prevents a debtor, spouse in divorce proceedings, or a defendant in a civil lawsuit from leaving the country and evading law enforcement,…
Read MoreObligations of Debtors in Insolvency Proceedings
In insolvency proceedings, the debtor encounters a number of obligations that are imposed on him by the official authorities conducting the proceedings. The debtor’s cooperation and good faith constitute a very important factor as the proceedings progress toward receiving the desired discharge. The legislature imposes a number of obligations on debtors in insolvency proceedings in…
Read MoreCanceling a Stay of Exit Order – Useful Information
How Can You Check If You Have a Stay of Exit Order, and How Can You Cancel a Court Order Preventing You from Leaving Israel? A stay of exit order prevents Israelis with debts or obligations in Israel from leaving the country. For many people, an Exit Delay order is an unpleasant surprise that destroys…
Read MoreHow to Deal with an Exit Delay Order from Israel
An Exit Delay Order from Israel prevents Israelis from leaving the country for work, health, family visits, religious purposes, or even for recreation and leisure. It also infringes on freedom of movement, which is guaranteed in the Basic Law of Human Dignity and Liberty. What happens if you are served with an Exit Delay Order…
Read MoreInsolvency / Bankruptcy in Israel
Our articles on the subject of insolvency Our office handles all aspects of insolvency and bankruptcy in Israel, including the representation of debtors and creditors. Many of the clients, individuals or companies, who contact us are in debt and need help handling the resulting foreclosures and restrictions. These debtors require an expert’s help in finding…
Read MoreThe Insolvency and Financial Recovery Law
Israel’s new Insolvency and Financial Recovery Law came into effect in September 2019. The new law supersedes and replaces the Bankruptcy Ordinance [New Version] – 1980. Some of the more remarkable things about this new law are; changes in perception regarding the status of the debtors and the creditors, social values, and shortened timeframes. In…
Read MoreInsolvency Law — Solutions for Businesses in Debt Due to the Coronavirus Outbreak
The financial damage to the economy in light of the Coronavirus outbreak has caused many businesses to be plunged into enormous debt. In this article, which was written on 29 March 2020, Attorney Odelia Meshulami – who specializes in insolvency law (formerly bankruptcy) – will explain the possible solutions; such as creditors arrangements and beginning…
Read MoreOrder of Discharge – Ending the Bankruptcy Procedure
What is an Order of Discharge? According to Israeli law, at the conclusion of the debtor’s process, after the debtor paid his debts according to the payment plan prescribed him, the Court grants him the Order of Discharge. This order grants the debtor the opportunity to start a new chapter in his life, as he…
Read MoreInsolvency in Israel
Insolvency in Israel is unfortunately a frequent process. The pace of economic life can often lead people to financial commitments that they fail to meet. According to Israeli law, a person caught in this situation may initiate bankruptcy / insolvency. Correctly completing insolvency proceedings in Israel will result in the discharge of the debt. In…
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