The Limited Times

Now you can see non-English news...

2020: 40% Increase in Bankruptcy Israel today

2020-11-23T10:58:36.954Z


| economyThe Custodian General's Report Reveals Corona's Damage to Israel's Business • While in 2019 16,378 applications for insolvency proceedings were filed, in the current year about 19,000 Queue for Social Security Photography:  Dudu Greenspan The economic price: The Custodian General's report published this morning (Monday) reveals a significant increase in bankruptcy cases in 2020, most likely a


The Custodian General's Report Reveals Corona's Damage to Israel's Business • While in 2019 16,378 applications for insolvency proceedings were filed, in the current year about 19,000

  • Queue for Social Security

    Photography: 

    Dudu Greenspan

The economic price:

The Custodian General's report published this morning (Monday) reveals a significant increase in bankruptcy cases in 2020, most likely as a result of the corona crisis and the damage to trade in Israel and around the world.

According to the report, since the beginning of the year, 18,990 applications have been submitted for the opening of insolvency proceedings of individuals, compared with 16,378 in the previous year - an increase of about 40 percent from the same period last year, when 13,441 such proceedings were opened.

However, in 2018 the data were more similar to the 2020 data, in which 19,854 such applications were submitted.

It also shows that during 2019, almost NIS 30 billion in debt claims were submitted to the Commissioner, with almost NIS 20 billion of this amount being filed in bankruptcy proceedings and insolvency of individuals, and the rest in the process of liquidation of a company and insolvency of corporations.

Regarding receivership orders, in 2019 12,495 receivership orders and opening orders were issued by the courts and the Commissioner for Insolvency Procedures, a figure that indicates a decrease of about 36% compared to 2018, in which 19,538 receivership orders were issued.

During 2019, 7,633 dismissal orders were issued in all the official receiver districts, compared to 7,325 dismissal orders issued in 2018. This figure constitutes a decrease of about four percent in the number of dismissal orders compared to 2018.

NIS 195 million of estates were donated to the state

The report also summarizes the donations and estates transferred to the state in 2019, and amounted to NIS 195 million.

These state subsidies fund the fees for a guardianship corporation or an eight professional guardianship and allow a person to make use of the benefit money he receives from Social Security for his needs.

Nissenkorn: "Report reflects efficiency and service improvement"

Justice Minister Avi Nissenkorn: "The report reflects the continued operations of the division across all its departments, in making the activities accessible to the general public, while meeting the goals set and setting reforms to expand the division's professional knowledge.

In addition to expanding professional knowledge, the division's work over the past year is evident in advancing significant moves to reduce bureaucracy and improve service to the public.

I would like to thank all the employees of the division and its managers for the important day-to-day work and for the constant efficiency and striving to improve the service provided to the general public in Israel. "

Adv. Sigal Yaakovi, the Custodian General and Supervisor of Insolvency Proceedings in the Ministry of Justice: “The entry into force of the insolvency proceedings reform required significant preparation and was a significant challenge.

In recent years, we have set ourselves as a central goal the improvement of service to the citizen who needs our services, while developing appropriate tools that will enable the public to receive the best, fast, available and accessible service for all.

In the past year, we have completed the opening of service centers in all our areas of activity and expanded our online services.

We will continue to work to shorten treatment times and improve the service in the future as well. "

Source: israelhayom

All news articles on 2020-11-23

You may like

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.