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Insolvency

11 stories about Insolvency
סלינה כנרת ב מגדל

Selina Israel ceases operations after global hospitality chain crumbles

15.09.24|Amir Perger
The collapse of the once-promising brand leaves a trail of unpaid debts and abandoned hotels across Israel. 
מימין רפי מוסרי ו דניאל רודסבסקי מייסדי סלינה

Checked out: Selina's global hostel empire sold off after unicorn's dreams unravel

27.08.24|Viki Auslender
Once a darling of digital nomads, reaching a valuation of $1.2 billion, Selina is stripped of its assets as investors lose faith.
בני לנדא יו"ר קבוצת לנדא לשעבר מייסד אינדיגו

Lusix employees get a reprieve as Landa and shareholders infuse fresh capital

23.08.24|Golan Hazani
The founder apologized for hardships and vowed to prioritize workers' welfare after the synthetic diamond company requested a stay of proceedings due to debts of around $28 million. 
מטוס מנהלים מטוס פרטי גאלפסטרים G650

Grounded: Billionaires duped out of millions in private jet sting

06.08.24|Golan Hazani
A long list of Israel's wealthiest and top business people each deposited a million shekels with Yaniv Salmon in exchange for the opportunity to fly abroad on a private plane at any time. Now it turns out that Salmon accumulated huge debts and allegedly used the money deposited in his hands to cover them, leaving the billionaires without a plane and without their money.
מימין רפי מוסרי ו דניאל רודסבסקי מייסדי סלינה

Selina Hospitality files for administration, to be delisted from Nasdaq

22.07.24|Sophie Shulman
The hospitality chain has lost 99.5% of its value since going public at a $1.2 billion valuation in December 2021, currently having a market cap of just $20 million.
מימין רפי מוסרי ו דניאל רודסבסקי מייסדי סלינה

Selina: The end? Hospitality chain facing insolvency after defaulting on loan

21.07.24|Sophie Shulman
The hospitality chain has lost 99.5% of its value since going public, currently having a market cap of just $25 million. It is set to soon be delisted from Nasdaq after repeatedly failing to meet the exchange’s deadlines. 
Sproutt founders

From $200 million valuation to insolvency: Insurtech startup Sproutt heading for bankruptcy

01.05.24|Almog Azar
The Israeli startup raised $38 million since its founding in October 2017, but struggled to generate income and turned to the court due to its inability to pay its debts
ווירקארד חברת תשלומים דיגיטליים Wirecard wire card

Domino Effect: Wirecard's collapse is being felt in the Israeli Fintech sphere

28.06.20|Meir Orbach and Hagar Ravet
Funds in cards issued by Wirecard’s UK subsidiary were frozen after the German company filed for insolvency
עסקים חדר ישיבות אילוסטרציה Doing business illustration

Board Members? 7 Keys to Protecting Your Company and Your Self During the Pandemic

18.05.20|Asaf Nahum & Seffy Zinger
When a company is on the verge of insolvency directors and CEOs become subject to more enhanced scrutiny under Israeli law
רינת רותם דוקטור סמנכלית מחקר ו פיתוח קיורטק מוטי חכם סמנכל כספים קיורטק בשיער לבן

CureTech’s Cancer-Fighting Dreams End With Insolvency

03.02.20|Lital Dobrovitsky
After an acquisition deal with pharmaceutical company InSight fell through in 2018, the company failed to secure further funding
מנכ"ל וונטייז נועם יוספידיס

Tel Aviv Stock Exchange Suspends Trading in Vonetize Securities

01.09.19|Hezi Sternlicht and Tofi Stoler
On Saturday, Vonetize announced that its attempts to raise funds have failed, that it cannot repay its bonds, and that the bonds’ trustee has informed the company it must begin insolvency proceedings