Investors illegally received money from Michael Ben-Ari and were required to return it

Two creditors who illegally received funds close to the initiation of Michael Ben Ari’s insolvency proceedings are required to return those funds.

Our Insolvency and Restructuring Department achieved two important rulings from the Tel Aviv district court as part of Michael Ben Ari’s insolvency proceedings. Ben Ari is suspected of committing the greatest Ponzi scheme in Israel’s history amounting to hundreds of millions of NIS.

As part of rulings after motions filed by the trustee, Adv. Lior Dagan, and his team of attorneys – Dvori Biton Zini, Nadav Shefer, Roman Peltsman and Zvi Karl, Vice President Brener ruled that two creditors who illegally received funds close to the initiation of the insolvency proceedings are required to return those funds, in order to preserve the principle of equality between all the creditors.

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