Adv. Ofir Feder during the lecture on insolvency (photo: Moorg Bitan)
The corona crisis was still with us in 2022, even though the economy returned to full activity already at the beginning.
In a lecture he gave to a forum of directors of a direct financing company in the field of insolvency, Adv. Ofir Feder spoke about insolvency and, among other things, detailed the ways in which a creditor can better insure himself against a possible financial collapse of a client.
In his lecture, Adv. Feder reviewed the factors that, among other things Led to the rise of the insolvency field in the legal world: "In 2022, the global recession, the increase in interest rates and the impact of the corona crisis resulted in an increase of about 9% in the opening of insolvency cases".
According to estimates, in 2022, approximately 25,000 insolvency cases of individuals and small businesses were opened, amounting to approximately NIS 10 billion.
The forecast, says Adv. Feder, is that even in 2023 the upward trend will continue by 5 to 10 percent compared to 2022
.
"Over 50% of the insolvency cases have reached payment arrangements," says Attorney Feder, "this is a monthly payment of about 3% of the total amount of the debt, and this after writing off dozens of percent of their total value."
The trend of these arrangements is between The permit is in view of Amendment 4 to the Insolvency Law, which was born due to the Corona crisis, and brought with it good news and hope to hundreds of businesses that chose to turn to this channel, with the aim of getting out of their debts and opening a new page in their lives without losing control of the business.
Of money
our money
Tags
insolvency
