Tel Aviv Magistrate’s Court Judge Lior Gelbard issued a bankruptcy order on Tuesday for high-tech entrepreneur Moshe Yanai, following a debt of approximately $42 million owed by his investment company, MII, to the Cayman Islands-registered investment fund Scintilla.
The ruling means that all of Yanai’s foreclosed assets, previously subject to temporary seizure orders, will be sold by the appointed trustee, Attorney Shuli Goldblatt. According to prior agreements between the parties, and despite objections from the insolvency commissioner at the Ministry of Justice, Goldblatt will manage the liquidation process. Among the foreclosed assets is a luxurious penthouse on Antokolski Street in Tel Aviv, owned by Yanai and his late wife Rachel,…