Eliezer Fishman

In British litigation linked to the bankruptcy, the High Court concluded that a trust structure had been used to hold German property assets for Fishman's benefit, although the assets had been presented as belonging to other family members. The decision strengthened the Israeli trustee's ability to pursue recovery of the assets for creditors.

State of the evidence

Documented

Attribution

Personally implicated

The bankruptcy trustee challenged several transfers of assets to Fishman family members, including villas in Savyon, alleging that they had reduced assets available to creditors. Interim court measures prevented certain sales. A subsequent agreement with the family provided for substantial payments to creditors and mutual waivers.

Attribution

Personally implicated

The Knesset established a parliamentary committee to examine lending to major borrowers, with Fishman's case serving as a prominent example following the scale of banks' potential losses. Bank executives and regulators were questioned about controls, collateral and lending decisions.

State of the evidence

Documented

Attribution

Personally implicated

Eliezer Fishman was declared bankrupt with debts of several billion shekels, including substantial amounts owed to Israel's main banks and the tax authorities. A proposed settlement involving a very large write-down for creditors provoked nationwide controversy over credit concentration and the tolerance shown towards major borrowers.

State of the evidence

Documented

Attribution

Personally implicated

Following a dispute with the tax authorities, the Supreme Court dismissed Fishman's appeal concerning a very substantial tax debt arising from his financial transactions. The authorities subsequently applied for a receivership order to recover approximately 196 million shekels.

State of the evidence

Documented

Attribution

Personally implicated