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Jun 24, 2013

Upcoming Seminar: Amendment 19 to Companies law – Israel's "Chapter 11"

In July 2012, Amendment 19 to the Companies Law 1999 was enacted into law. The Amendment introduces detailed provisions allowing a company in financial difficulties to obtain court protection from its creditors in order to allow the company to find its way back to solvency (similar to Chapter 11 status in the USA).

The Amendment represents a major change in how distressed companies and their creditors are able to act during a court-sanctioned period of financial rehabilitation. The Amendment includes potentially dramatic consequences for lenders, both existing lenders (who may find their priority status downgraded) and new lenders (who may enjoy priority status in respect to new money made available to the company during its rehabilitation process).

The seminar is aimed at holding a discussion around the key changes introduced by Amendment 19 and a comparative analysis of how some of these issues are addressed in the U.S. legal system. The seminar will be of interest to credit and risk managers of lending institutions as well as in-house legal advisors.

To register for the event, please click here