The Central District Court docket at present 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 state of affairs in 10 days time.
Decide Werinberg-Nutovitz stated, “It appears that there’s a must appoint an official with the intention to study whether or not, because of the firm’s state of affairs, the best course is thru the Insolvency and Financial Rehabilitation Regulation, and that is concerning, amongst different issues, to the responses that had been submitted and the proposed working funding sources.”
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The corporate petitioned the court docket firstly 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 staff that it plans to place them on unpaid go away, or they will waive a listening to and obtain a letter of dismissal. Between 20-25 staff will stay to work on the firm.
The corporate’s 60 staff, 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 authorised for repaying the collectors, together with staff, inside 5 years. The workers are asking the court docket to behave by way of an order to open proceedings for financial rehabilitation, which might permit 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.
© Copyright of Globes Writer Itonut (1983) Ltd., 2024.
