Tel Aviv District Court ordered the liquidation of Eurocom group

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by Ifi Reporter Category:Financial Apr 23, 2018

The Tel Aviv District Court ordered the liquidation of the Eurocom group, owned by Shaul Alovitch within ten days. The decision of Justice Eitan Orenstein was made due to the company's debts estimated at NIS 1.5 billion, most of them to the banks
Following the court's decision, trading ceased in the shares of the companies owned by Eurocom, including Bezeq, Bezeq International, B Communications and Halal Communications.

The TASE announcement said that due to media reports regarding the issue of a liquidation order to Eurocom, trading in the securities of the companies in question was discontinued.
The court appointed the official receiver as a temporary liquidator of Eurocom Communications, while the lawyers of the creditor banks were appointed as special managers of the company. They will have to submit a first report on the state of the company by the end of May. Attorney Hagai Ullmann was appointed receiver of Eurocom Real Estate, which also controls communications space.
Eurocom filed the liquidation request four months ago, since the company had not been in debt for more than three years.
Alovitz's name has been in the headlines for the past year, mainly in connection with Bezeq's investigation and its ties with Prime Minister Netanyahu
Alovitch is linked to suspicions of a sympathetic news coverage of Prime Minister Netanyahu and his wife Sarah on Walla's news website

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