News

| Yaron Elhawi
September 12th, 2017

Gornitzky represented Bank Hapoalim in a motion to approve a class action filed against it.

Gornitzky represented Bank Hapoalim in a motion to approve a class action filed against the Bank and its officers, in which it was argued that the bank refrained from including in its financial statements, the fact that provisions were made, pertaining to the investigation being conducted against the Bank in the United States. The motion allegedly claims that this is in fact material information which the Bank was required to disclose, in order not to mislead investors who purchased the Bank's shares.

 

Judge Ruth Ronen dismissed the motion in her ruling last week.

 

Bank Hapoalim was represented by Pinhas Rubin (Chairman of the Firm), Yaron Elhawi (Partner) and Shirin Gabbay-Metzeger (Associate).

January 14th, 2016

Gornitzky represents Nitsba Group, in the tender for the purchase of the company's assets for approx. NIS 280 million

Gornitzky successfully represented Nitsba Holdings 1995 Ltd., the former controlling shareholder of the Tel Aviv Central Bus Station and its largest creditor (NIS 280 million), in the insolvency proceedings of the Tel Aviv Central Bus Station. As part of the insolvency proceedings, it has been argued by certain trustees that the debt to Nitsba should be subordinated), due in part to the fact that the company was operating under undercapitalization. This is a highly complicated and new legal issue and we have submitted an appeal to the District Court with regard to the decision of the Board of Trustees. Our firm represented Nitsba in a tender published by the trustees for the purchase of the company's assets, in which our client won and acquired the assets for a total of NIS 320 million. Nitsba is currently operating in order to form a creditors' arrangement for the central station.

 

See full story (Hebrew)

 

Nitsba Holdings were represented by Pinhas Rubin (Firm & Practice Chairman) Yaron Elhawi (Partner) and Amnon Biss

 

May 13th, 2015

Gornitzky successfully argued against the disclosure of documents on behalf of Bank Hapoalom. Read the full story:(Hebrew)

January 26th, 2015

Gornitzky & Co. represented Fortissimo Capital Fund in its acquisition of Synergy Cables Ltd. for NIS 15 million. 

Gornitzky & Co. represented Fortissimo Capital Fund in its acquisition of Synergy Cables Ltd. for NIS 15 million. The transaction was conducted through the Beer Sheba District Court in the context of corporate reorganization proceedings with respect to Synergy Cables and its publicly traded bonds.

Synergy Cables, headquartered in Sderot, Israel, is a global supplier of power & electrical cables.

Fortissimo Capital Fund was represented by Chaim Friedland (Partner, Corporate/M&A), Yaron Elhawi (Partner, Restructuring & Insolvency), Yair Shiloni (Partner, Capital Markets), and Avner Finkelshtein (Partner, Antitrust).

March 15th, 2016

Adv. Yaron Elhawi (partner), SDS liquidator, filed a motion to order the controlling shareholder and board members of SDS to bear the Company's debt in the sum of 72 Million NIS 

The liquidators of SDS, Adv. Yaron Elhawi (partner) and Amir Palmer, represented by Adv. Harel Shaham (partner) and Shani Weiss from Gornitzky & Co., filed a motion to order the controlling shareholder and board members of SDS to bear the Company’s debts to its creditors in the amount of over NIS 72 million. Such debt, arose , among other things, due to the distribution of a dividend in the amount of NIS 27 million, that was made to serve the urgent liquidity needs of the controlling shareholder, in violation of the duty of care of the Company’s directors and despite the existence of reasonable doubt as to the Company's solvency, and due to  amateurish and adventurous investments of tens of millions of shekels in product development and purchasing activities devoid of even elementary business logic and lacking even the most basic inquiries of the Company’s directors,who failed to take action and demonstrated complete passivity to the Company’s cash flow limitations. 

May 26th, 2015

Gornitzky is representing the Agrexco liquidators in a lawsuit against the State of Israel, which was recently approved to go to court. 

Gornitzky is representing the Agrexco liquidators in a lawsuit against the State of Israel, which was recently approved to go to court. In the lawsuit, the liquidators attribute responsibility for Agrexco's near NIS 500 million debt and subsequent bankruptcy collapse to the behavior of the State and affiliated entities, which controlled Agrexco, for their improper use of the company to promote national and other agendas that were contrary to the company's best business interest and created financial instability.

 

The liquidators, led by Dr. Shlomo Nass, are represented by Pinhas Rubin (Firm Chairman), Yaron Elhawi (Partner), Ofer Fleischer (Partner) and Shani Weiss.

 

For related news click here and here

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May 8th, 2015

Gornitzky represented Bank Hapoalim in the appeal against the disclosure of documents. Read the full story:

Hebrew Item
April 18th, 2011

Four of the Firm’s lawyers, Yaron Alhawi, Shlomo Cohen, Daniel Paserman and Inbal Zackai-Horev, were named among Israel's most promising lawyers by Maariv, which also named Gornitzky's Chairman, Mr. Pinhas Rubin, as one of Israel's senior lawyers today

Four of the Gornitzky & Co.’s lawyers were named among Israel's most promising young lawyers by Israeli newspaper Maariv, in an article attempting to foresee Israel's future top lawyers in different practice areas.

Mr. Yaron Elhawi (Partner) and Mr. Shlomo Cohen (Partner) were named as leading real estate lawyers - the article stated that Mr. Cohen is ”only 36 years old and already considered to be one of Israel's leading lawyers in the field of real estate. He coordinates the representation of the Ofer Brothers Group in their real estate business.

Mr. Daniel Paserman (Partner) was described as one of Israel's top three young M&A lawyers. Mr. Paserman divides his time between international M&A's, creative and unique tax planning and leading the Firm's private equity practice. The article stated that Mr. Paserman consults clients such as the Tshuva Group, the Habas Group, the Steinmetz Group, the Phoenix Group and Comverse Ltd.

Ms. Inbal Zackai-Horev was described as a promising capital markets lawyer who is expected to reach new heights in the foreseen future.

Among Israel's current senior lawyers, the article named Gornitzky & Co.'s Chairman, Mr. Pinhas Rubin.