Following a news item published last week –

Adv. Amit Lederman, Head of the Insolvency, Creditors Arrangements and Corporate Recovery Department at our firm, has been appointed Settlement Manager of Marathon 018 Expon, in whose case a request was submitted a week and a half ago to delay proceedings and appoint a Settlement Manager.
The company operates under the “We4G” brand and is a corporation for the provision of cellular services and has licenses for the provision of radio and mobile phone services and a frequency band, which enable the provision of cellular service with 4th generation technology and has about 350,000 subscriptions.

At the end of the week, Adv. Lederman, through Adv. Idan Miller, a partner in our firm, and Adv. Faris Jbely from the Department of Insolvency, Creditors ‘Arrangements and Recovery of Companies, submitted a report that includes an initial outline for advancing the creditors’ settlement in the case. Cellcom, which in turn claims a debt of approximately NIS 1.1 billion towards it and the sale of the company’s operations to Widdley Mobile Ltd. in exchange for the sum of NIS 180 million.

For the coverage: In Calcalist