News

| Ofer Tzur
June 9th, 2016

Gornitzky represents I.D.B. Development in a petition for dissolution and a motion to appoint a temporary liquidator

Gornitzky represented I.D.B. Development in a petition for dissolution and a motion to appoint a temporary liquidator filed on June 1st, 2016, on its behalf, by the Series 9 bondholders' trustee. Following an urgent court session held on June 7, 2016 before the honorable Judge Brenner, and upon the court's recommendation, the trustee withdrew the motion to appoint a temporary liquidator. The dissolution will be discussed in a court session set foot September 2016.  

 

 See related article in Globes and Calcalist

 

I.D.B. Development Ltd. Is represented by Pinhas Rubin (Firm Chairman), Ofer Tzur (Head of Litigation), Kfir Yadgar (Partner), Yair Shiloni (Partner), Shirin Gabbay-Metzger and Shiri Nass Magid

December 1st, 2015

Gornitzky is representing the founder of "Eden Teva Market", Mr. Guy Provisor, shareholder of 49% of Eden Teva Market, in a lawsuit against Alon Blue Square, Mega Retail and its senior officers (past and present) for NIS 78 Million.

 

Gornitzky is representing the founder of "Eden Teva Market", Mr. Guy Provisor, shareholder of 49% of Eden Teva Market, in a lawsuit against Alon Blue Square, Mega Retail and its senior officers (past and present) for NIS 78 Million, on the ground of misconduct that caused Provisor`s Holdings to be erased altogether.

Eden Teva Market is Israel’s largest chain of organic-food supermarkets.

Read the full story (hebrew)

Mr. Guy Provisor is represented by Ofer Tzur (Partner), Kfir Yadgar (Partner) and Maayan Melamed.

September 10th, 2015

Gornitzky represents China Railway tunneling Group (CRTG) and its partner Solel Boneh, in a petition against their successful win of a NIS 2.9 Billion tender for the Tel Aviv Light Rail project

Gornitzky represented CRTG, a subsidiary of China Railway Engineering Group Ltd., the largest Chinese company specializing in underground works,  and its partner Solel Boneh in a successful dismissal of a petition filed to the Tel-Aviv District Court and to the Tender Committee in connection with their win of a NIS 2.9 Billion tunneling tender published as part of the Tel Aviv Metropolitan Area Mass-Transit System.

July 20th, 2015

Gornitzky represented Amot Investment in Mega Retail's Credior Arrangement

Gornitzky represented Amot Investments (TASE: AMOT) in Mega Retail's Plan of Recovery and Creditors Arrangement.

 

Within the framework of the Arrangement, various creditors (among them Amot) had reached an Arrangement to restructure Mega's debts, which accumulated to USD 700 million. The Arrangement was approved by the Central District Court pursuant to section 350 of the Companies Law.

 

Amot is the investment arm in Israel of Alony-Hetz Properties & Investments Ltd., and is a leader in the management, leasing, maintenance, and development of income generating properties in Israel.

 

Amot was represented by Mr. Ofer Tzur (Partner), Ms. Orly Tenennbaum (Partner) and Mr. Daniel Lasry.

 

 

September 9th, 2013

Gornitzky represented a former CEO in the rejection of NIS 6.8 million of corporate embezzlement charges filed by the company he had headed, and in filing a counter claim against the company.

Gornitzky represented a former CEO in the rejection of NIS 6.8 million of corporate embezzlement charges filed by the company he had headed, and in filing a countersuit against the company.

 

Regional Labor Court Justice Ilan Itah decreed that the payments received by the CEO are neither the fruits of embezzlement nor an unusual scheme, as wrongfully argued by the employer. The judge subsequently rejected the majority of the suit, while partially accepting the counter claim made by the CEO following which he ruled that the parties must settle accounts for certain amounts owed to one another.

 

The CEO was represented by Ofer Tzur (Partner, Head of Litigation) and Harel Shaham (Partner).

September 27th, 2012

Gornitzky & Co. represented Yitzhak Tshuva in the successful negotiations for securing a debt settlement between Delek Real Estate Ltd. and its bondholders.

Gornitzky & Co. represented Yitzhak Tshuva in the successful negotiations  for securing a debt settlement between Delek Real Estate Ltd. and its bondholders.

 

After over a year of negotiations between Delek Real Estate, controlled by Yitzhak Tshuva, and its bondholders, a debt settlement was finally signed, which will involve a 65% discount on the NIS 2.15 billion owed to the bondholders.  The settlement was approved by the Tel Aviv District Court.

 

Yitzhak Tshuva was represented by Mr. Pinhas Rubin (Firm Chairman) and Mr. Ofer Tzur (Partner, Head of Litigation).

January 31st, 2012

Gornitzky & Co. represented Mr. Yitzhak Tshuva in the settlements reached with the majority of Delek Real Estate Ltd.'s bondholders regarding a NIS 2.1 billion debt restructuring.

Gornitzky & Co. represented Mr. Yitzhak Tshuva in the settlements reached with 72% of Delek Real Estate Ltd.'s bondholders regarding a NIS 2.1 billion debt restructuring.


Settlement agreements were reached between 72% of Delek Real Estate Ltd.'s bondholders and the company's controlling shareholder, Mr. Tshuva. According to the outline, the existing bonds will be nullified and replaced by two new series of bonds to be issued for a period of 16 years. Tshuva will infuse a total of NIS 1.3 billion to the new series.

 

Mr. Tshuva was represented by Mr. Pinhas Rubin (Firm Chairman) and Mr. Ofer Tzur (Partner, Head of Litigation).

September 26th, 2011

Gornitzky & Co. represented Delek Real Estate Ltd.'s controlling shareholder, Mr. Yitzhak Tshuva, in signing an agreement with the company's bondholders, delaying the payments of several series of debentures.

In negotiations between the representatives of several of Delek Real Estate Ltd.'s bondholders and the company's controlling shareholder, Mr. Yitzhak Tshuva, the parties agreed that payments to the bondholders will be delayed by several months and in return, the bondholders will receive NIS 13 million in compensation.

 

Mr. Ofer Tzur (Partner, Head of Litigation) represented Mr. Tshuva in this case.

March 31st, 2016

Yet another successful year and recognition of our outstanding abilities! This year, as in previous years, Chambers and Partners, top ranked our firm in various categories. 

Yet another successful year and recognition of our outstanding abilities! This year, as in previous years, the esteemed international ranking guide, Chambers and Partners, top ranked our firm in various categories. Among those prominently ranked were the Head of the Firm, Adv. Pinhas Rubin, who was ranked Eminent Practitioner in the field of Banking and Mergers and Acquisitions, as well as Band 1 in the field of Tax and Litigation; Adv. Jack Smith (Partner) was ranked Band 1 in the field of Energy and Adv. Chaim Friedland (Partner) was ranked Band 1 in the field of Capital Markets. Additional partners, defined as leaders in their field are Eyal Marom and Shlomo Cohen in Real Estate, Ofer Tzur in Litigation, Itay Geffen in Capital Markets and Infrastructure and Project Finance, Elite Elkon, Eli Elya and Dubi Gross in Banking and Finance, Daniel Paserman and Gil Grady in Tax and Avner Finkelshtein in Antitrust

October 28th, 2015

Gornitzky & Co. represented Barak Capital, a leading Israeli investment group, in a capital raising of approx. NIS 280 Million by way of rights issuance of perpetual bonds to its shareholders.

Gornitzky & Co. represented Barak Capital, a leading Israeli investment group, in a capital raising of approx. NIS 280 Million by way of rights issuance of perpetual bonds to its shareholders.

In addition, Gornitzky & Co. succeed to revoke an injunction filed against Barak Capital by one of its minority shareholder which seek to prevent Barak Capital from completing the capital raising. 

 

Read the full story (Hebrew)


Barak Capital was represented by Ofer Tzur (Partner), Kfir Yadgar (Partner), Uri Heller and Shani Weiss

July 27th, 2015

Partner Ofer Tzur discusses the Law to Promote Competition and Reduce Concentration in the Columbia Convention hosted by the Ono Academic College.

July 20th, 2015

Gornitzky is representing minority shareholders in Eden Teva Market lawsuit against Alon

Gornitzky is representing minority shareholders in “Eden Teva Market” (including Mr. Guy Provisor, founder and former C.E.O) in a lawsuit against Alon Blue Square (NYSE: BSI & TASE: BSI) and its subsidiary Mega Retail. Minority shareholders attribute responsibility for Eden Teva Market’s significant losses (and current suspension of proceedings) to the misconduct of controlling shareholder (Mega) and its parent company (and former controlling shareholder of Eden Teva Market) – Alon, and seek to compel Alon and Mega to purchase minority shareholders’ shares in Eden Teva Market for corresponding value of 77,000,000 NIS.

 

Eden Teva Market is Israel’s largest chain of organic-food supermarkets.

 

Minority shareholders and Mr. Provisor are represented by Ofer Tzur (Partner), Kfir Yadgar (Partner) and Maayan Melamed.

 

July 2nd, 2013

Gornitzky represented Mr. Ziel Feldman in the Tel Aviv District Court's dismissal of a request by Bank Discount to declare Feldman bankrupt.

Gornitzky represented American real estate mogul, Mr. Ziel Feldman, in the Tel Aviv District Court's dismissal of a request by Bank Discount to declare Feldman bankrupt.

 

Honorable Judge Eitan Orenstein rejected and dismissed Bank Discount's request to declare Feldman bankrupt following arguments made by Gornitzky regarding the factual complexity of the dispute, and, inter alia, the disagreement over the alleged NIS 138 million debt and the questionable legality of the interest rates applied to the loan by Bank Discount.

 

Mr. Ziel Feldman was represented by Ofer Tzur (Partner, Head of Litigation) and Harel Shaham (Partner).

 

 

August 30th, 2012

Judge Danya Kareth Meyer of the Tel Aviv District Court has rejected the request for a NIS 720 million class action against Yitzhak Tshuva and Delek Group.

Judge Danya Kareth Meyer of the Tel Aviv District Court has rejected the request for a NIS 720 million class action against Yitzhak Tshuva and Delek Group.

 

The request for the class action, filed by attorney Renan Gersht, was rejected by Judge Kareth Meyer based on evidence provided by Gornitzky & Co., which highlighted numerous and significant technical errors in the plaintiff's claims.

 

Tshuva and Delek Group were represented by Mr. Pinhas Rubin (Firm Chairman), Mr. Ofer Tzur (Partner, Head of Litigation), Mr. Kfir Yadgar (Partner) and Mr. Ofer Fleischer.

 

January 13th, 2012

Gornitzky & Co. represented Shikun & Binui Ltd. before the Israel's Supreme Court, appealing the rejection of their petition against the win of Shapir Engineering in the tender for the construction and operation of the new NIS 10 billion IDF training camps.

One week before the final announcement of the winning bidder in the tender for the construction and operation of a new IDF training camps, worth approximately NIS 10 billion, Mahanegev, a company owned by Shikun & Binui Ltd., submitted an appeal to Israel's Supreme Court. The company appealed the win of Shapir Engineering (2001) Ltd. in the tender. Gornitzky & Co. represented Shikun & Binui in the appeal and in the filing of an urgent application for an emergency hearing.

 

Mr. Ofer Tzur (Partner, Head of Litigation), Mr. Eli Cohen (Partner) and Mr. Itzchak Lazar lead the representation.

June 13th, 2011

In a precedential decision, Judge Yaakov Sheinman of the District Court in Petach Tikva, accepted arguments made by Gornitzky & Co. on behalf of ImageSat International and dismissed in limine the application to approve a NIS 4 billion derivative action against the company.

In a precedential decision, Judge Yaakov Sheinman of the District Court in Petach Tikva, accepted arguments made by Gornitzky & Co. on behalf of ImageSat International and dismissed in limine the application to approve a NIS 4 billion derivative action against the company.

 

The request for the in limine dismissal of the application was based on the innovative claim that a derivative action in the name of a foreign company cannot be filed in Israel under the Israeli Companies Law.

 

ImageSat International N.V., a leading provider of high-resolution, satellite earth-imagery, which launched and operates the EROS commercial satellites, was represented by Mr. Ofer Tzur (Partner, Head of Litigation) and Mr. Eli Cohen (Partner).