The new Insolvency and Economic recovery Law that entered into force in 2018 was intended to replace the Bankruptcy Ordinance – and the bankruptcy process in Israel. The law distinguishes between those who have debts up to 150,000 NIS, who… Read More »Insolvency – Bankruptcy in Israel
In this article we will discuss an insolvency application – an application filed by a person with debts, called an “individual” in legal terms, in which he requests to commence insolvency proceedings – what was previously called bankruptcy, for someone… Read More »Insolvency application – through the enforcement bureau
This article will generally discuss the insolvency proceeding (previously called “bankruptcy”) proceedings in the Magistrate’s Court. For more information on the various topics – see the links in the body of the article. An insolvency application is filed by a… Read More »An insolvency application proceeding in the magistrate’s court
This article will discuss the order to commence proceedings in an insolvency proceeding and its meaning. In 2018, the new Insolvency Law was passed in the Knesset, replacing the Bankruptcy Ordinance. Therefore, some of the terms that may have been… Read More »Order to commence proceedings in insolvency
In this article we will discuss determining the monthly payment in insolvency proceedings, which is set twice during the proceedings: first when the order to commence proceedings is issued, and second when the economic recovery plan is set. The monthly… Read More »Determining the monthly payment in insolvency proceedings
When an order to commence insolvency proceedings is issued, a period called the “interim period” begins, which is the period between the issuance of the order to commence proceedings and the issuance of the economic recovery order. During this period,… Read More »Bi-monthly reports in insolvency proceedings
As soon as a bankruptcy order is issued, an order is issued against theDebtor in bankruptcy which is called “individual” in legal Israeli terms, to prohibit them from leaving the country. The purpose of the order is to prevent the… Read More »Cancellation of an exit prohibition order
This article will briefly discuss the economic recovery order given in insolvency proceedings (bankruptcy) in the Magistrate’s Court or at the Enforcement Bureau, the nature of the order, the considerations taken into account, and the consequences of the order. The… Read More »Economic recovery order
This article will discuss the discharge order, which is the order given at the end of insolvency proceedings (bankruptcy). The order is usually given after the individual (the debtor) has fulfilled all obligations in accordance with the economic recovery order,… Read More »Discharge order
An immediate discharge is a discharge order given in an insolvency proceeding in a shorter period than that provided by law, usually after the end of the interim period – which is the period between the issuance of the order… Read More »Immediate discharge in bankruptcy