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Elstein sets conditions for the receivers to provide the guarantee for the purchase of DSK
Adv. Raanan Kalir and Adv. Alon Binyamini, Co-Heads of our Insolvency & Restructuring department, have been appointed as receivers of the controlling shares (approximately 70%) for Discount Investment Corp Ltd, the main asset in the insolvent IDB Development Group.
With a total balance sheet of approximately NIS 20 billion, Discount Investment Corp Ltd is one of the largest holding companies in Israel with stakes in Cellcom, Property & Building Corp. USA.
Advocates Binyamini and Kalir will demand control over Discount Investment Corp Ltd and the execution of the shares to which the convening order applies.
They were appointed by the Honorable Vice President Hagai Brenner from the Tel Aviv-Jaffa District Court, and are supported by attorneys Amir Algazi and Yarden Rosenbush, and interns Amit Assayag and Dana Katzmen at the firm.
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