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The creditors rejected the proposal of the Fishman on debt restructuring and demanded the bankruptcy

A meeting of the creditors of the companies belonging to businessman Eliezer Fishman, ended with the rejection of the debt restructuring plan proposed by the court-appointed provisional administrator attorney Yossi Bensalem.

Representatives of Bank «Hapoalim», the largest creditor of the Fishman, said that insist on the procedure of bankruptcy and sale of the property of the family Fishman. Also against the restructuring were the banks «Leumi», «Mizrahi» and «Discount.»

Out of 4.5 billion shekels personal debts of Fishman amount to 3.4 billion shekels, while the value of the pledged assets is estimated at 1.7 billion shekels. It should be noted that part of that amount of pledged shares of a «grandchild» and «pravnuchataya» companies, the real value of which at the moment is difficult to assess.

Under the proposed restructuring plan, the creditors will write off 92% of the debts of the Fishman. The repayment of the remaining debt will be implemented in two stages. In the first stage Fishman to pay 140 million shekels 9 creditors and separately 15 million shekels to the tax Department. In the second stage, after 5 years, Fishman will pay 260 million NIS (the amounts are based on the assessment of income, «Fishman Resalat» and «A. T. Ohsako Kirur».

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».

The creditors rejected the proposal of the Fishman on debt restructuring and demanded the bankruptcy 07.06.2017

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