Corporate Recovery and Insolvency

Why Agmon?

  • Professional experience in managing complex cases
  • In-depth regulatory background and familiarity with the decision-making processes at state authorities - the head of the department served as head of the legal department of the official receiver’s division at the Ministry of Justice
  • Representation in all aspects of the field – representation of debtors, creditors, recovery arrangements, collection and realization of assets and more
  • Unique specialization in representing corporations that carry out transactions or acquisitions of companies in liquidation or insolvency proceedings.

Representative work

Dr. Itay Hass acted as trustee for the construction company U. Dori Construction Ltd., one of the largest construction contractors in Israel, in one of the largest and most complex insolvency cases in the country, when the company’s creditors claimed debts owed to them in excess of ILS 1.3 billion.

Dr. Itay Hass serves as a trustee of the cooperative consumer association Co-op Israel. During suspended proceedings for the association, the trustee stood up for its rights vis-à-vis third parties and the association’s debts were as a result paid in full, with the balance of the association’s funds distributed among the thousands of association members. As part of the proceeding, the department handled the association’s assets totaling approximately ILS 100 million.

Dr. Itay Hass served as the receiver of one of the most expensive plots of land on Tel Aviv’s coastline, worth a quarter of a billion shekels, as part of the liquidation process of the land’s shared ownership, and the plot’s sale in order to enable the establishment of a residential, hotel and commercial project on its territory.

About the department

High-quality legal representation in the field of insolvency is not only based on legal expertise, but also requires thinking outside-the-box when framing the client’s representation, a broad financial and legal view of their needs and interests, the ability to find effective solutions in tight schedules, reaching agreements with various parties, and excellent representation before courts.

The department provides its clients with a variety of services in the multidisciplinary field of insolvency proceedings, debt settlements, economic rehabilitation, recovery and liquidation of corporations and bankruptcy proceedings, including:

  • Representation of debtors and creditors in legal proceedings with respect to insolvency and debt settlements.
  • Rehabilitation and recovery of corporations – companies and business partnerships experiencing financial hardship, during or before entry into insolvency proceedings, including drawing up an economic rehabilitation plan.
  • Staying legal proceedings for debtors, including collection procedures and cancellation of foreclosures.
  • Realization of assets and collateral.
  • Asset receivership.
  • Ongoing comprehensive legal support and counsel with respect to insolvency for corporations and individuals.
  • Selling company activity as a going-concern during insolvency proceedings.

The department’s team has extensive experience in representing various entities, creditors or debtors, be it huge corporations, business partnerships, cooperative societies and associations or individuals involved in rehabilitation and recovery procedures or liquidation of companies and bankruptcy proceedings. In addition, the department’s team has extensive experience in managing the cases of court-appointed functionaries (including trustees, liquidators, special administrators, receivers, etc.).

The department’s team represents large business clients, including public or private companies in the areas of real estate, communications, insurance, retail, agriculture and energy.

In addition, the department has a specialized practice with respect to cooperative associations, consumer associations and housing associations, as well as representation of associations, business partnerships, and individuals.

The department is led by Dr. Itay Hess, who served in his previous position as the head of the legal department of the official receiver’s division and the administrator general at the Ministry of Justice (in charge of insolvency proceedings). Itay’s rich experience and unique knowledge in the field make him ideal for occasional appointment by the courts as a functionary – trustee and liquidator in complex cases of great volume.

Itay was closely involved in formulating and drafting the Insolvency and Economic Rehabilitation Law, 5778-2018, and represented the official receiver in particularly complex insolvency cases in the Supreme Court.

The department works in coordination and cooperation with the firm’s departments that specialize in other areas of law, such as commercial law, banking, high-tech, real estate, labor, and more, in order to deal with any issue that may arise when handling complex insolvency cases. When representing in debt settlements, the department works in full cooperation with the firm’s corporate and capital market departments, in a way that reflects the professionalism and expertise that the firm has accumulated in these areas.

High-quality legal representation in the field of insolvency is not only based on legal expertise, but also requires thinking outside-the-box when framing the client’s representation, a broad financial and legal view of their needs and interests, the ability to find effective solutions in tight schedules, reaching agreements with various parties, and excellent representation before courts.

The department provides its clients with a variety of services in the multidisciplinary field of insolvency proceedings, debt settlements, economic rehabilitation, recovery and liquidation of corporations and bankruptcy proceedings, including:

  • Representation of debtors and creditors in legal proceedings with respect to insolvency and debt settlements.
  • Rehabilitation and recovery of corporations – companies and business partnerships experiencing financial hardship, during or before entry into insolvency proceedings, including drawing up an economic rehabilitation plan.
  • Staying legal proceedings for debtors, including collection procedures and cancellation of foreclosures.
  • Realization of assets and collateral.
  • Asset receivership.
  • Ongoing comprehensive legal support and counsel with respect to insolvency for corporations and individuals.
  • Selling company activity as a going-concern during insolvency proceedings.

The department’s team has extensive experience in representing various entities, creditors or debtors, be it huge corporations, business partnerships, cooperative societies and associations or individuals involved in rehabilitation and recovery procedures or liquidation of companies and bankruptcy proceedings. In addition, the department’s team has extensive experience in managing the cases of court-appointed functionaries (including trustees, liquidators, special administrators, receivers, etc.).

The department’s team represents large business clients, including public or private companies in the areas of real estate, communications, insurance, retail, agriculture and energy.

In addition, the department has a specialized practice with respect to cooperative associations, consumer associations and housing associations, as well as representation of associations, business partnerships, and individuals.

The department is led by Dr. Itay Hess, who served in his previous position as the head of the legal department of the official receiver’s division and the administrator general at the Ministry of Justice (in charge of insolvency proceedings). Itay’s rich experience and unique knowledge in the field make him ideal for occasional appointment by the courts as a functionary – trustee and liquidator in complex cases of great volume.

Itay was closely involved in formulating and drafting the Insolvency and Economic Rehabilitation Law, 5778-2018, and represented the official receiver in particularly complex insolvency cases in the Supreme Court.

The department works in coordination and cooperation with the firm’s departments that specialize in other areas of law, such as commercial law, banking, high-tech, real estate, labor, and more, in order to deal with any issue that may arise when handling complex insolvency cases. When representing in debt settlements, the department works in full cooperation with the firm’s corporate and capital market departments, in a way that reflects the professionalism and expertise that the firm has accumulated in these areas.