Our firm represents the bondholders’ trustee for the secured series of All Year Holdings (series C and E), a company that has issued bonds in Israel amounting to approximately NIS 2.5 billion. As part of the representation, we served as the Israeli counsel for the bondholders of series E in the sale of a property in Brooklyn, that was used as collateral for this series, for a sum of approximately USD 500 million, of which approximately USD 245 million was used to repay series E bonds, reflecting a return of approximately 95% of the series’ outstanding debt.
In the end of March 2022, an agreement for the purchase of a note and a mortgage on a complex of 183-room hotel located in Williamsburg, Brooklyn, that was given as collateral to the benefit of series C bondholders, for a sum of USD 165 million, reflecting a return of approximately 90% of the series’ outstanding debt.
In addition, at the same month, our firm was selected to serve as the claims manager for the bondholders’ causes of actions in all series.
The representation was held by Partner Ofer Tzur (Head of Litigation), Managing Partner Kfir Yadgar and Partner Amnon Biss, along with Senior Associates Liron Karass and Maya Ben Meir.
Tax aspects: Partner Dr. Assaf Prussak.
