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Insolvency

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Insolvency

14 stories about Insolvency

Selina Israel seeks liquidation after parent company's asset sale
05.03.25|Lital DobrovitzkySingaporean buyer shows no interest in Israeli operations, leaving the company leaderless and insolvent.
Cybersecurity startup NanoLock collapses, seeks court-appointed trustee
06.02.25|Meir OrbachThe Israeli firm, once backed by $27 million in funding, cites war-related financial strain and cash flow crisis as it halts operations.
GuardKnox collapses after raising $60 million, blames war for lost funding
30.01.25|Meir OrbachThe auto-cybersecurity company files for insolvency after investors withdrew $30 million in planned funding.
Selina Israel ceases operations after global hospitality chain crumbles
15.09.24|Amir PergerThe collapse of the once-promising brand leaves a trail of unpaid debts and abandoned hotels across Israel.
Checked out: Selina's global hostel empire sold off after unicorn's dreams unravel
27.08.24|Viki AuslenderOnce a darling of digital nomads, reaching a valuation of $1.2 billion, Selina is stripped of its assets as investors lose faith.
Lusix employees get a reprieve as Landa and shareholders infuse fresh capital
23.08.24|Golan HazaniThe founder apologized for hardships and vowed to prioritize workers' welfare after the synthetic diamond company requested a stay of proceedings due to debts of around $28 million.
Grounded: Billionaires duped out of millions in private jet sting
06.08.24|Golan HazaniA long list of Israel's wealthiest and top business people each deposited a million shekels with Yaniv Salmon in exchange for the opportunity to fly abroad on a private plane at any time. Now it turns out that Salmon accumulated huge debts and allegedly used the money deposited in his hands to cover them, leaving the billionaires without a plane and without their money.
Selina Hospitality files for administration, to be delisted from Nasdaq
22.07.24|Sophie ShulmanThe hospitality chain has lost 99.5% of its value since going public at a $1.2 billion valuation in December 2021, currently having a market cap of just $20 million.
Selina: The end? Hospitality chain facing insolvency after defaulting on loan
21.07.24|Sophie ShulmanThe hospitality chain has lost 99.5% of its value since going public, currently having a market cap of just $25 million. It is set to soon be delisted from Nasdaq after repeatedly failing to meet the exchange’s deadlines.
From $200 million valuation to insolvency: Insurtech startup Sproutt heading for bankruptcy
01.05.24|Almog AzarThe Israeli startup raised $38 million since its founding in October 2017, but struggled to generate income and turned to the court due to its inability to pay its debts
Domino Effect: Wirecard's collapse is being felt in the Israeli Fintech sphere
28.06.20|Meir Orbach and Hagar RavetFunds in cards issued by Wirecard’s UK subsidiary were frozen after the German company filed for insolvency
Board Members? 7 Keys to Protecting Your Company and Your Self During the Pandemic
18.05.20|Asaf Nahum & Seffy ZingerWhen a company is on the verge of insolvency directors and CEOs become subject to more enhanced scrutiny under Israeli law
CureTech’s Cancer-Fighting Dreams End With Insolvency
03.02.20|Lital Dobrovitsky After an acquisition deal with pharmaceutical company InSight fell through in 2018, the company failed to secure further funding
Tel Aviv Stock Exchange Suspends Trading in Vonetize Securities
01.09.19|Hezi Sternlicht and Tofi StolerOn Saturday, Vonetize announced that its attempts to raise funds have failed, that it cannot repay its bonds, and that the bonds’ trustee has informed the company it must begin insolvency proceedings

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