August 2022
On June 29, 2022, the trustee held an update conference for the debtor’s creditors and EGFE corporations held at ZOA in Tel Aviv. An invitation to the conference was sent to all of the debtor’s and EGFE corporations’ investors and to the representing attorneys on the case, along with a link to connect remotely via Zoom. In the first part of the conference, the trustee reviewed in detail all the actions carried out by him and his team on the case, the status of the assets and/or funds of the debtor and EGFE corporations in a geographical division by country, an overview of the debt status; A review of the mechanism proposed by the trustee of resolving debt claims (motion No. 168) including a numerical example for illustration; The interfaces of the insolvency procedure with the criminal procedures conducted in Israel and around the world; and more; In addition, the trustee provided information on the next planned steps, including timetables for the continuation of the actions on the case. In the second part of the conference, the trustee answered all the questions sent in advance, with the trustee answering each question according to the language in which the question was asked (questions asked in Hebrew the trustee answered in Hebrew, and questions asked in English, he answered in English).
To watch the conference:
July 2022
Judgment of the insolvency court in Motion No. 117, in which the court ordered the respondent, Mr. Meir Eini, to return to the debtor’s creditors’ pool an amount of 400,000 dollars which was transferred to him from the debtor’s private account as a bullet loan, plus 50,000 NIS for the motion expenses. It was ruled that there is no waiver by the debtor of the debt, the respondent has no right of set-off or delay, and that the respondent sought to take advantage of the fact that the debtor committed serious fraudulent acts, in order to evade his obligation to return the loan funds to the creditors’ pool without justification.
A Motion was filed by the trustee for the provision of instructions (claim) against Veselin Pejovic (a business partner of the debtor) to pay a total of 5,000,000 euros transferred to him for the transaction to purchase 50% of the shares of Uniprom Metali.
A Motion was filed by the trustee for the provision of instructions (claim) against Marijan Primorac (citizen of Croatia) to return a total of 400,000 euros transferred to him from EGFE Hungary as part of a loan agreement.
June 2022
Judgment of the insolvency court in Motion No. 72, in which the court ordered the respondent, Vered Ben Ari (the debtor’s divorcee), to return to the creditors’ pool the sum of NIS 300,000 that was transferred to her from the company’s fund in the three months preceding the insolvency proceedings and which constitute a prohibited Creditors preference, plus interest and attachment as per the law from the date of the transfer, as well as the motion expenses in the amount of NIS 35,000.