House of Shraga Brosh former president of the Manufacturers' Association will be sold to finance debts

House of Shraga Brosh, former president of the Manufacturers' Association and owners of the Y. Brosh Group, will be sold for NIS 10.6 million in order to pay a debt to a secured creditor. This is the request for approval of a sale agreement submitted last week by Adv. Gil Hirschman, a cypress force. This is a single-family and two-story detached house in Ramat Gan.
In the application, it was alleged that the secured creditor, Golden Equity (2006), gave his consent to approve a sale agreement for the sale of the rights of Shraga Brosh and his wife at their residence in Ramat Gan, for NIS 10.6 million. In the application, it was alleged that "in order to inject funds into the companies, the controlling shareholders took loans from various financial entities, in exchange for liens recorded on the assets of the controlling shareholders and their families."
It was further argued that "as for the residence - it is pledged in favor of the secured creditor on the rights of Shraga Brosh and his wife, in a first-degree mortgage and without an amount limit. The secured creditor gave his consent to the sale of the residence for NIS 10.6 million. Up-to-date appraisals.
"In order to realize the residence, in the fastest way - which will lead to a significant reduction of the debt to the secured creditor and stop the 'interest rate race', Shraga Brosh and his wife agreed to vacate and hand over the possession of the residence to buyers as early as June 1."
In December 2021, an urgent request was submitted to the Jerusalem District Court to delay proceedings against the Cypress Factories Group for debts in the amount of NIS 248 million. The companies that requested a stay of proceedings and are represented by attorneys Adi Braunstein and Gil Hirschman are the companies Y. Brosh Marketing and Services and the Mifalei Y Group. cypress".
The directors and directors of these companies are Shraga Brosh, former president of the Manufacturers' Association and his brother Yariv Brosh. Judge Avigdor Dorot issued a stay of proceedings order and appointed Adv. Tzuriel Lavi as director of the settlement. The Y. Brosh Group operates two productive factories, one in Barkan and the other in Nof Hagalil.
The factory in Barkan manufactures and markets synthetic yarns used in the carpet industry, and the factory in the Galilee landscape produces flexible packaging. At this stage, the entire group employs about 130 workers, some of whom (in the Galilee landscape) are represented by Adv. Ofir Ronen.