Landa Labs avoids insolvency proceedings after last-minute deal with creditor
Court closes case less than 24 hours after German investor Altana sought to open proceedings.
Following intensive negotiations between the parties over the past 24 hours, the request for an order to open insolvency proceedings against Benny Landa's company, Landa Labs, has been withdrawn.
Just one day after German corporation Altana Netherlands B.V. filed a request with the Central District Court to open proceedings against Landa Labs, the parties reached an agreement. Following a joint request to dismiss the case, Judge Hanna Kitsis ordered the application to be withdrawn and the case closed. As a result, insolvency proceedings will not be opened against the company.
The request was filed yesterday against Landa Labs, founded in 2012 as the innovation and research arm of the Landa Group. In the past, both Altana and Landa Labs held stakes in Landa Corporation, the Landa family-owned printing company that encountered financial difficulties last year and was recently sold to FIMI as part of court-supervised proceedings.
According to the application filed yesterday, Landa Labs had allegedly defaulted on a €16 million loan provided by Altana, which matured on May 20, 2025.
However, after the application was submitted, the parties entered into intensive negotiations and formulated what they described as an agreed commercial framework regarding the loan. According to the joint filing, the framework is intended to arrange the loan on a long-term basis, subject to a final agreement to be signed between the parties.
The parties further agreed that the application would be withdrawn without either side waiving any claims or arguments against the other.
According to sources familiar with the negotiations, "this is a tempest in a teapot" resulting from a misunderstanding that arose during discussions between the parties.
Benny Landa is an Israeli businessman and philanthropist best known as the founder of Indigo, Landa Digital Printing, and other ventures.
Altana is represented by attorneys Guy Ido, Keren Reichbach-Segal, and Itay Shani of Gornitzky & Co. Landa Labs is represented by attorney Yedidya Melchior.
