Tel Aviv District Court Judge Eitan Orenstein today issued a receivership order for the assets of Eliezer Fishman. He appointed Adv. Joseph Benkel as special administrator for Fishman's assets. Benkel will submit an initial statement by January 11, 2017. In addition, an order was issued preventing Fishman from leaving the country.
The judge announced his decision at the end of a hearing on Fishman's debt settlement proposal. Last week, Fishman filed a debt settlement proposal for NIS 1.7 billion debts not held in lien, in which he offered to pay only NIS 90 million, constituting a 95% "haircut" on his debts.
The Tax Authority opposed this settlement proposal and called on the court to reject it and puts Fishman's assets into receivership. The Tax Authority said, "this a request focusing entirely at again attempting to establish a VIP insolvency track, aimed at preventing the 'discomfort' of a thorough investigation and examination of the circumstances of his financial collapse, of actually dealing with, and taking real, honest, responsibility for, the generation of huge, NIS 5 billion, debts," said the Tax Authority's request.
Yesterday, Fishman filed an income tax statement to the court in which he asked to offset his capital loss in the 2015 income tax statement against his capital gains in 2006, in a way that covers the income tax debt for which the bankruptcy demand was filed against him in August 2016. Fishman thereby claims that his tax assessment for 2006 was already covered when offset against the 2015 losses.
In a Channel 10 news interview yesterday, Fishman lashed out at the Tax Authority, "The Tax Authority has crossed the line… I do not owe it even a shekel."
In today's court hearing, Judge Orenstein also rejected the debt settlement proposed by Fishman, "in court, Fishman's blood is not redder that anyone else's."
The judge said, "The debtor will cooperate with the special administrator, provide him with the necessary documents and appear for questioning. All creditors will file a debt claim within 14 days."
Published by Globes [online], Israel business news - www.globes-online.com - on December 12, 2016
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