Tuesday, January 13, 2015

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News1 | Landau extended the stay of proceedings in 35 days
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Request for an order freezing the company for 90 days Most creditors agreed to freeze expect a cash surplus of 9.5 million in debts to the Bank of completing projects in Jerusalem and the workers - 38.8 million in two days Trustees shall submit an affidavit on conflict of interest
Order the stay of proceedings against the Czech construction company. Landau was extended sclerosis by 35 days only, until 30 September. This announcement (Tuesday, 08/26/14) sclerosis Vice President of the District Court in Tel Aviv, Eitan Orenstein. Denied the Company's request for an order freezing for 90 days. Temporary Trustees on September 10, will submit a report on the state of the company. Creditors make claims debt to 21 September. Judge Orenstein explained that he had decided to extend the freeze order after the company announced the temporary delight, there is a chance soon complete the construction furrows of Manasseh, Netanya and Kiryat Ono, and collect money to buyers. Trustees announced formulated "outlines recovery", under which the company will cash in a year surplus of 9.5 million. Offer is not accepted Housing and Construction, to extend the freeze order on several days. Most creditors, and employees, support the bankruptcy proceedings, although Vastigoiot different. The court also approved the temporary trustees sclerosis enter an agreement with supervision "in. Isaac engineer", a cost of 50 thousand shekels. The court rejected for now the demand of one of the creditors, who buys an apartment will be charged to add funds to set up a compensation fund to unsecured creditors. However, the court noted, this proposal may be raised for discussion in the future. The judge's decision indicates that the company has to Jerusalem Bank and Bank Hapoalim 38.8 million. There Forward law obligations sclerosis (workers and local taxes) by 3.1 Milionskl, and debts of 217 million for guarantees. The company also has 8.5 million to its shareholders, lent her personal funds. Trustees and shareholder submit affidavits conflict of interest court ordered temporary trustees to submit an affidavit within 48 hours about their possible conflict of interest. Trustee Attorney holidays sclerosis Ullman told the judge, after hearing the morning, his ministry (Ministry of Yehuda Raveh) gave to Landau legal services concerning the planned construction of cottages in Kiryat Gat. Ullman not notified the time of application freezing order

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