| Tel Aviv-Jaffa District Court |
| Liquidations 46530-04-26 Complex Real Estate Finance Ltd. et al. v. Y. Hoiberger Entrepreneurship Ltd. et al.
August 23,2026 |
| Before the HonorableJudge Noa Grossman | |
| In the matter: | Insolvency and Economic Rehabilitation Law 5778-2018
The Law |
| And on the subject:
|
Adv. Gonen Kestenbaum
Receiver |
| And on the subject:
|
1. Complex Real Estate Finance Ltd. 515759777
2. Clal Insurance Company Ltd. By Adv. Ran Keren The secured creditors |
| And on the subject:
|
Sigma City Foundation 4 Real Estate Limited Partnership
By Attorney Torkeltaub A secured creditor for the surpluses |
| And on the subject:
|
Y. Hoiberger Entrepreneurship Ltd. 513196394
By Attorney Oren Harel The Company |
| And on the subject:
|
1. Dekel Dan
2. Dekel Oshrat By Attorney Meni (Menachem) Koren 3. Levin Sidi Hilit 4. Sidi Jordan By Attorney Yaakov Antwerg Applicants/Purchasers |
Decision
General:
- Prior to the request of four applicants, two families (Dekel and Sidi) who purchased new apartments in the Tamm project"A 38/1 at 50-52 Shlonsky St., Tel Aviv (hereinafter: "The Shlonsky Project" and/or "The Project").
The project ran into difficulties and by my decision of May 4,2026, I appointed his"4 Gonen Kestenbaum, who served until then, 22"as the secured creditors, as a receiver for the purpose of completing the project.
- There are 32 existing apartment owners in the project, that is, owners of rights to the land. In the proceeding, 11 apartment buyers also appeared, including the four applicants.
The four buyers of these apartments, the Dekel and Sidi families, sought to realize the guarantees The Sale Law that they have in their hands and get out of the project.
In terms of the relevant motions for the purpose of deciding the application, the pleadings are:
Request No. 16, Response of May 25 to the Outline Proposed by the Receiver - The Dekel Family.
Request No. 16, Response of May 27 to the Outline Proposed by the Receiver - The Sidi Family.
Request No. 16, Response from 31.5 On behalf of Sigma City 4 Real Estate Foundation"N (hereinafter:"The secured creditor on the surplus").
Request No. 16, Response of June 3 to the Outline Proposed by the Receiver - The Dekel Family.
Request No. 16, Responses from 4.6 ; 9.6 On behalf of Six New Apartment Buyers
Request No. 16, Response from 9.6 ; 14.7 On behalf of The company.
Request No. 16, Response of July 9 on behalf of the secured creditors to the Applicants' forfeiture requests.
Request No. 16, Response from 12.7 On behalf of the receiver.
Thus, all the necessary positions on the matter were submitted. A frontal hearing was held on July 20,2026.
At the end of the meeting, the parties were sent to hold dialogue, but when no understandings were reached, the need for a decision arose.
The Ottoman Settlement [Old Version] 1916 Background:
12-34-56-78 Chekhov v. State of Israel, P.D. 51 (2)
- During 2012, the TAM agreement was signed"A 38/1 between Y. Hoiberger Development Ltd."40 (hereinafter: "The Company") and the residents of the condominium at 50 Shlonsky St. - 52 in the Neot Afeka neighborhood, Tel Aviv. According to the TAM agreement"The company has been granted the right to build 20 new apartments for sale on the free market (hereinafter: "The Developer's Apartments").
- On December 28,2021, a financing and accompaniment agreement was signed between the Company and the secured creditors (hereinafter: "Accompaniment Agreement").
In order to ensure full payment of the Company's obligations to the secured creditors under the financing agreement, the Company registered for the benefit of the secured creditors a permanent lien of the first degree without limitation and an amount on the Company's full rights in the project.