In Israel, as much in any other place, Insolvency & Bankruptcy are mostly about acting in a speed of light and reacting efficiently in order to minimize damages and loss of value.
Weksler Bregman`s Insolvency & Bankruptcy team is designed and trained to deliver exactly that.
Weksler Bregman offers broad expertise in all matters relating to liquidation and receivership procedures of corporate insolvency, and the firm`s lawyers act from time to time as liquidators or receivers of companies, especially on behalf of commercial banks. Adv. Uri Bregman, the firm`s managing partner, has been nominated and is serving as Special Administrator of the Trade Bank Ltd. (In liquidation), which collapsed in 2002 after a major fraud from within. Adv. Amit Pines acts as legal advisor to the liquidation and represents the Official Receiver in the large scale litigation arising of the collapse of the bank.
The old saying goes on claiming that “crisis” is another word for “opportunity”, and we at Weksler Bregman understand that. After years of experience in the field of Insolvency & Bankruptcy, we understand the delicate nature of the Insolvency Proceedings and what it takes to maximize the outcome from a proceeding first appears as all about loss.
We guide and help our clients, mainly banks and large scale creditors, in taking over troubled companies and assets, analyzing risks and coordinating with our clients and their financial advisors in the mutual goal of protecting their interests when crisis shows at the door.
Liquidations & Receivership
After years of experience in the field of Liquidations & Receivership, we understand the delicate nature of the Insolvency Proceedings and what it takes to maximize the outcome.
Our Liquidation expertise includes acting as liquidators or provisional liquidators in compulsory windings up, advising companies prior to liquidation, advising directors, representing creditors, maximizing the realization of assets and more.
If a bank or other creditor holds appropriate security, it may consider appointing a receiver or a manager to sell the business or assets and use the proceeds to settle, wholly or partially, its secured claim. Our expertise includes advising debenture, acting as receiver / manager under fixed/floating charges, managing the business, selling the business as a going concern exc.
Special management & Liquidations of Banks
In the bankruptcy area and liquidations of banks, W&B has played a key role representing a considerable number of leading banks and companies in a variety of fields.
The work performed by the firm includes counseling, negotiations, legal opinions, litigation, issuance of various types of governmental licenses and other related services. Amongst the firm`s clients are some of the largest banks in Israel.
Adv. Uri Bregman, the firm`s managing partner, has been nominated and is serving as Special Administrator of the Trade Bank Ltd. (In liquidation), which collapsed in 2002 after a major fraud from within. Adv. Amit Pines acts as legal advisor to the liquidation and represents the Official Receiver in the large scale litigation arising of the collapse of the bank.
Automatic stay of proceedings
Automatic stay of proceedings is a bankruptcy provision that triggers an injunction against the continuance of any action by any creditor against the debtor or the debtor`s property.
The automatic stay, subject to the oversight of the bankruptcy judge, brings all of the debtor`s assets and creditors into the same forum, the bankruptcy court, where the rights of all concerned can be balanced.
In many cases our attorneys served as trustees. Trustee is the representative of the bankruptcy estate who exercises statutory powers, principally for the benefit of the unsecured creditors, under the general supervision of the court and the direct supervision of the trustee or bankruptcy administrator. The trustee`s responsibilities include reviewing the debtor`s petition and schedules and bringing actions against creditors or the debtor to recover property of the bankruptcy estate.
The trustee’s ultimate goal is to obtain approval from all the debtor`s assets and creditors for a plan of reorganization to the debtor.
In other many cases, our firm represented creditors, such as banks, financial corporations, companies, industrial corporations, real estate oriented corporations and many more.