1,328 insolvency petitions referring to firms had been filed in Israel’s courts in 2021, 11% greater than in 2020, when 1,200 such petitions had been filed. The figures are from a report printed this morning by the Administrator Basic, the Commissioner of Insolvency Proceedings, and the Succession Circumstances Registrar on the Ministry of Justice.
711 of the insolvency petitions had been filed within the Tel Aviv District; 236 within the Haifa District, 208 within the Beersheva District; and 173 within the Jerusalem District. The variety of excellent instances was related in each years: 9,986 in 2021 and 9,972 in 2020.
AS far as people are involved, there have been 16,568 petitions for chapter proceedings in 2021, 5.3% fewer than in 2020, when 17,495 chapter petitions had been filed. The variety of excellent instances in 2021 was the bottom in 5 years.
The courts handed down 14,406 receivership and opening of proceedings orders in 2021, a quantity little modified from the 14,310 orders handed down in 2020.
In 2022, the capabilities of the Administrator Basic and the Commissioner of Insolvency Proceedings had been break up into two separate models with separate heads. Adv. CPA Asher Engelman was appointed Commissioner of Insolvency Proceedings two months in the past. Adv. Ben-Zion Feigelson was appointed Administrator Basic and Succession Circumstances Registrar. The choice to separate the models was a part of an try to streamline their work, and since there was no commonality between them.
In 2021, money owed in claims filed with the Commissioner of Insolvency Proceedings amounted to NIS 60.5 billion. Of this, NIS 43.7 billion was in proceedings referring to people and NIS 16.7 billion was in firm insolvency proceedings.
The worth of property managed by the Administrator Basic, who’s chargeable for ownerless property, reached NIS 2.39 billion. This contains 865 houses and companies, and a couple of,056 plots of land. The confiscation unit within the Administrator Basic’s workplace, arrange as a part of the rising marketing campaign in opposition to financial crime, opened 778 recordsdata in 2021 for the momentary or everlasting confiscation of actual property, money and chattels to the worth of NIS 29 million underneath the Prohibition of Cash Laundering Regulation and NIS 17.6 million underneath the Medicine Ordinance. The state obtained legacies and items amounting to NIS 103 million final 12 months.
Ministry of Justice director normal Eran Davidi stated, “The exercise report for 2021 displays the strengthening of the guiding function of the Ministry of Justice, specifically streamlining and enchancment of the authorized providers that we render to the general public. We now have set ourselves the aim of slicing ready occasions and simplifying procedures.”
Adv. Orit Kotev, performing Commissioner of Insolvency Proceedings stated that, in 2021, the unit had put an emphasis on “rehabilitation for unwary debtors, together with coaching in monetary administration and distinctive fashions for monetary rehabilitation, amongst others for these concerned in prostitution.”
Printed by Globes, Israel enterprise information – en.globes.co.il – on September 4, 2022.
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