The court appointed trustees to the Wall Street Network for English Studies

Tel Aviv District Court Judge Eitan Orenstein appointed two trustees to the Wall Street Network for English Studies this weekend and issued a freeze order to allow the network to prepare for a restoration procedure. One of the trustees is the chain's CEO and shareholder, Emanuel Kozinz. The other trustee is Attorney Shirley Yifrach-Area.
"I was convinced that the case before me was one of the cases in which the officer should be appointed as trustee," the judge stated, "in light of the importance of the officer for continuing the company's academic activities, which would result in a large number of transactions being canceled, which would greatly reduce the chances of recovery of the group."
The chain recently filed an urgent request to order a creditors' meeting for the company as well as a detailed proposal for an economic rehabilitation program after accruing debts of NIS 11 million. The court ordered the network to apply for a freeze, and, as stated at the weekend, the order was issued. The network is represented by Attorney Asher Engelman and Semion Kidder. Advocate Israel Bachar from Perl Cohen's justice to Tsar Baretz is represented by Mercantile Discount Bank, the creditor of the chain.
Wall Street said: "We welcome the court's decision and the appointment of the company's CEO as trustee. The company has been responsible for its customers, employees and suppliers. We are waiting for the joint work with Adv. Yifrach-Zion to recover the company."