Ori Yogev and Hana Gertler’s Whitewater Technologies is facing liquidation. The Tel Aviv District Court has banned the disposal of any Whitewater assets by the company, or any party acting on its behalf, and will allow the company 5 days to respond to the workers’ request to liquidate the company.
The workers previously submitted a request to appoint a temporary liquidator for the company, due to a NIS 2.4 million debt to its employees.
Whitewater employees claim that they received a letter yesterday (12 November 2013) from the company’s management, via attorneys Alon and Galila Hornstein, which stated that the company was halting its operations due to the fact that its resources had run out.
“In the years since Whitewater was founded, the company has invested tremendous resources, in time and in capital, in order to realize the vision that it set out for itself,” read the letter from the management to its employees. “We believed every step of the way that we would attain these goals, but unfortunately we have not succeeded. In light of this, the company is forced to halt its operations as its resources have run out.”
Whitewater Technologies develops advanced water network management solutions, and provides advanced systems for preventing, alerting, and treating water contamination. Whitewater Group owns four companies: CheckLight Ltd. and Galcon Ltd., which develop technologies to manage and monitor water systems for municipal gardening and agriculture, Whitewater Security, which provides solutions for overall water safety, and Whitewater Well, which develops and markets systems for the management and monitoring of water production processes.
Ori Yogev serves as chairman, and the company’s primary investor and co-founder is Israeli businesswoman Hana Gertler.
Published by Globes [online], Israel business news - www.globes-online.com - on November 13, 2013
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