The Central District Court docket in the present day issued a 14-day keep of proceedings for Benny Landa’s lab-grown diamonds producer LUSIX. Decide Irit Weinberg Nutovitz appointed Adv. Shay Bar-Nir to current a report on the corporate’s scenario in 10 days time.
Decide Werinberg-Nutovitz mentioned, “It appears that there’s a have to appoint an official in an effort to study whether or not, as a result of firm’s scenario, the precise course is thru the Insolvency and Financial Rehabilitation Regulation, and that is relating to, amongst different issues, to the responses that have been submitted and the proposed working funding sources.”
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The corporate petitioned the court docket in the beginning of the week with a request for a stay-of-proceedings on money owed of NIS 103 million. The corporate requested the keep to stop debt assortment proceedings in opposition to it in keeping with Modification 4 of the Insolvency Regulation, and proposed an association for the cost of its money owed to collectors unfold over 5 years.
LUSIX has additionally instructed its 60 workers that it plans to place them on unpaid depart, or they will waive a listening to and obtain a letter of dismissal. Between 20-25 workers will stay to work on the firm.
The corporate’s 60 workers, who’re anticipated to depart the corporate, yesterday filed with the court docket their opposition to granting LUSIX a keep of proceedings. Whereas the corporate is asking for an operations plan to be permitted for repaying the collectors, together with workers, inside 5 years. The staff are asking the court docket to behave via an order to open proceedings for financial rehabilitation, which might enable them to obtain their wage from the Nationwide Insurance coverage Institute.
Printed by Globes, Israel enterprise information – en.globes.co.il – on August 22, 2024.
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