Following a news item published last week –
Adv. Amit Lederman, Head of the Insolvency, Creditors Arrangements and Corporate Recovery Department at our firm, has been appointed Settlement Manager of Marathon 018 Expon, in whose case a request was submitted a week and a half ago to delay proceedings and appoint a Settlement Manager.
The company operates under the “We4G” brand and is a corporation for the provision of cellular services and has licenses for the provision of radio and mobile phone services and a frequency band, which enable the provision of cellular service with 4th generation technology and has about 350,000 subscriptions.
At the end of the week, Adv. Lederman, through Adv. Idan Miller, a partner in our firm, and Adv. Faris Jbely from the Department of Insolvency, Creditors ‘Arrangements and Recovery of Companies, submitted a report that includes an initial outline for advancing the creditors’ settlement in the case. Cellcom, which in turn claims a debt of approximately NIS 1.1 billion towards it and the sale of the company’s operations to Widdley Mobile Ltd. in exchange for the sum of NIS 180 million.