Court orders bankruptcy warning to be issued against Maiman

Tel Aviv District Court Judge Varda Alshech on Monday ordered a bankruptcy warning to be issued against Ampal-American Israel Corporation chairman Yosef Maiman, unless he pays a NIS 2 million debt to a single creditor. The judge put a gag order on the details of the petition, including the creditor’s name, but allowed the publication of Maimon’s name and that he is at risk of bankruptcy.

Alshech gave Maiman seven days to pay the debt, plus interest and arrears, for the unauthorized overdraft in his account at Bank Leumi through the date of the repayment. The ruling is based on the arbitrator’s ruling between Maiman and the creditor.

“If Maiman does not pay the debt, or guarantee its payment, or fails to comply with the satisfaction of the creditor or the court, this will be considered as bankruptcy, which can be used as grounds for filing a bankruptcy petition against Maiman,” Alshech said.

As is normal in such proceedings, she added, Maiman has the right to file an objection with the court against the bankruptcy warning.

Maiman’s private company, Merhav Group, said in response: “We are talking about a former employee of the company who has already received 95 percent of the tens of millions of shekels owed him and who will receive the rest of what he is owed. The reasons for petitioning the court are unclear, except for the revenge motive, since the balance of the debt is negligible and will be paid.”