Gibui Group

The trustees of Gibui Group, a company that provided billions of shekels of off banking credit, filed a lawsuit claiming that the company’s insolvency is attributed to its severe mismanagement by its controlling owner, directors and officers, and its external auditors.

The lawsuit, presented by the trustees – Raanan Kalir, Co-Manager of our Insolvency Division, and CPA Isaac Idan from ClearStructure Economic & Financial analysis, outline numerous failures in the on-going administration of Gibui Group. These include the extension of significant credit without appropriate evaluation and procedures, consistent efforts to obscure repayments failures and constant manipulation of credit terms – all contrary to the optimistic company stance depicted in the group’s statements.

The lawsuit follows a comprehensive report, nearly 200 pages, released by the trustees approximately one month ago. This report includes an extensive array of information, thousands of documents, and numerous thorough investigations that were held with executives, directors, external auditors, and other parties involved. These investigations occurred over a period of eight months, were conducted by the trustees and our team, including Lawyer Alon Binyamini (Co-Manager of the Insolvency Division), as well as attorneys Nir Nordan, Efrat Rosner, Tomer Shaked, and along with the interns Shalom Kachlon, Bar Federbusch, and Asaf Gnessin.

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