The Chairman of the tel Aviv district court Eytan Ornstein announced the businessman Eliezer Fishman of the bankrupt and handed over to the appropriate authority for the implementation of its property a court-appointed special Manager, lawyer Yossi Benkel.
The court’s ruling came after the all creditors rejected Fishman, the debt restructuring plan and, along with the official bailiff agreed that Fishman should be declared bankrupt.
He 74-year-old businessman did not argue against this decision of the court.
Benkel, asked the court to order the appointment of investigators that will search the Fishman owned the property, according to the portal ynet.
According to the court, the debts of the Fishman after the implementation of its property known to the creditors, would amount to 1.5 billion shekels. This bankruptcy will be the largest in Israel’s history.
The debts of the Fishman distributed among 10 lenders, including banks «Hapoalim» and «Leumi», which the businessman owed 3.5 billion shekels. Among other creditors – the state of Israel in the face of Tax administration, the Bank «Diskont», «Mercantile», «Ihud», «Mizrahi», «Beinleumi», «national Britannia», as well as the pension Fund excellence and investment funds «Keren Manor 1алеф» and «Hermetic Nemanot».
In «Empire» Fishman includes more than 30 different companies in which it directly or indirectly owns a large stake. Among other things, it includes the construction company «Calcalist Yerushalayim», the company that manages lucrative real estate «Mivnei TAAS – Nadlan Maniwa,» the company «Mirland» multi-channel cable television HOT, chain of toy stores «Giberti», chain store «home center», a network of flower shops «Zer Yu», network of shops of fashionable clothes «Selio» club of consumers «Powercard», the company imports cigarettes «Globrands» online pharmacy «Teleform», one-third of the shares of the company «Yediot Ahronot», plant for the production of chips «Mylocal», the developer of communication systems «Trilogical» company «Mifala Kirur».