Approximately 10 days after sending a request, the court agreed to declare Israeli tycoon Eliezer Fishman as bankrupt.


Fishman Photo credit: Flash 90/ Channel 2 News

Today (Wednesday), the Tel Aviv District Court declared Israeli tycoon Eliezer Fishman as bankrupt. The decision was made 10 days after Fishman’s attorney sent the request. The court wrote in its decision: “There are no disputes that conditions for declaring bankruptcy have been met.”

“The issuance of the bankruptcy order obeys the law, according to which the purpose of the proceeding is to achieve two objectives,” the court continuede. “First, to collect all the debtor’s assets, to realize them and to distribute them equally among creditors who are liable. Second, allow the debtor, who is going through hard times, to start a new page in his life.”

Several weeks ago, Fishman said that declaring him as bankrupt will not give the banks more money than the settlement.