The Tel Aviv District Court (Hon. Judge Hagai Brenner) approved a debt arrangement for the public company Unet Credit, within which debts amounting to over 130 million NIS will be settled with all creditors. In an additional part of the arrangement, the creditors exempted the independent directors that actually managed the company during the crisis, from lawsuits, as detailed in the arrangement. 

The proceeding taken by the company now benefits from a wide majority of creditors consent and was consolidated through full cooperation with them and the authorities. This arrangement is a first and critical step on the way to recovery and embarking on a new path.

The company was represented by lawyers Amit Lederman and Dorit Karny from our firm’s Insolvency and Company Recovery department. 

For reviewing: https://www.globes.co.il/news/article.aspx?did=1001443600