2018:1,207 dissolution requests of companies were filed - a 2.3% increase

In 2018 there was a further decline in the number of decisions dismissing the bankrupt from their debts. In this year, 7,325 orders were issued by the courts exempting ordinary debtors from their debts, a decrease of 4% compared to 2017. In 2016, 6,587 such orders were issued.
However, no similar "line" of declines was recorded in the companies' arena. During the year 2018, 1,207 dissolution requests were filed - a 2.3% increase in the number of liquidation requests compared to 2017. Among the companies that collapsed last year were Honigman, one of Israel's largest and most famous fashion retail groups, which entered into a state of freezing in February due to financial difficulties. The Wertheimer chain filed a dissolution request for the company, in light of its inability to cope with the challenges in the retail sector and the network's difficulty in rising after its economic collapse and its entry into insolvency proceedings three years ago. KIM Nir, the company that operates the only fire brigade in Israel, asked the court to freeze the proceedings and appoint a trustee against the background of cash flow difficulties.
The increase in the number of requests for liquidation in 2018 continues the upward trend in corporate crashes in recent years. This follows the fact that in 2014, 914 dissolution requests were submitted - a 3% increase in the number of liquidation requests compared to 2016; And 607 liquidation orders were issued - an increase of about 1% compared to 2016.
These figures are based on the summary report of the activities of the Administrator-General and the official receiver of the Ministry of Justice for 2018. The report includes an overview of the various activities of the Ministry as a general guardian, In Israel.
The report further states that the amount of debt claims submitted to the official receiver in 2018 amounts to approximately NIS 38.3 million, of which 30.6 million were filed in bankruptcy proceedings, and 7.7 million were in liquidation proceedings.
In the area of ​​activity of the Custodian General, the report states, among other things, that the ministry manages abandoned funds for those who are entitled to them (money of deceased or missing persons whose identity is unknown and who have no claim), amounting to NIS 1.931 billion, In December 2018, 16,085 active asset management portfolios were managed by the Administrator-General, of which 11,340 were finance portfolios and 4,745 were real estate portfolios, including 862 apartments and businesses.
In 2018, the Custodian General returned the eligible or heirs 122 property and financial assets worth NIS 27.9 million.
Are also anchored in the report of the Custodian of Custodian General's files. The foreclosure unit was established in the Custodian General against the backdrop of the growing struggle against economic crime and black capital, and the need to establish effective management mechanisms for acquired property. In 2018, 1,412 foreclosure files were seized, including forfeiture of real estate, money and movables in temporary or permanent confiscation, receipts in the forfeiture funds under the Prohibition of Money Laundering Law amounted to NIS 52 million, and receipts under the Dangerous Drugs Ordinance totaled 15 million The proceeds of the Anti-Terror Law administered by the Forfeiture Unit for the State Treasury amounted to NIS 811,000 in 2018.
The general custodian is also responsible for estates and donations for the benefit of the state. The report shows that in 2018, the Custodian General received estates and donations in favor of the State of Israel totaling NIS 74 million.