News

| Amnon Biss
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

 

April 27th, 2015

Gornitzky represented the TASE in the successful dismissal of a NIS 648 million motion to approve a class action filed against the stock exchange. 

Gornitzky represented the Tel Aviv Stock Exchange in the successful dismissal of a NIS 648 million motion to approve a class action, filed against the stock exchange in relation to the fees charged by it, and in connection with the articles of association and directions published by the Stock Exchange. Honorable Judge Haled Kabub accepted the arguments raised by Gornitzky (on behalf of the TASE), and dismissed the motion in limine, for reasons of lack of rivalry and lack of authority.

 

The Tel Aviv Stock Exchange was represented by Pinhas Rubin (Firm Chairman), Harel Shaham (Partner), Noga Haruvi and Amnon Biss.

May 8th, 2015

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

Hebrew Item
March 30th, 2015

Gornitzky & Co. represented the Bank Hapoalim and other syndicate banks in financing a part of Bright Food (Group) Co., Ltd.'s buyout of the Israeli food company, Tnuva.  

Gornitzky & Co. represented the Bank Hapoalim (as arranger and original lender) and other syndicate banks (Bank Discount, First International Bank of Israel and Clal Insurance Enterprises Holdings Ltd.) in financing a part of Bright Food (Group) Co., Ltd.'s buyout of the Israeli food company, Tnuva.  


The lenders were represented by Eli Elya (Partner and Practice Head), Elite Elkon May-Tal (Partner), Dubi Gross (Partner), Nir KeidarOri Yitzhak, Gila Ponte-Shlush, Amnon Biss and Ady Abrams.