'Office Depot' frozen for a week: investors will try to compromise

District Court of Tel Aviv determined today (Sunday) that the Office Depot Company, will enter a temporary freeze of proceedings that will last for a week, so that the company will come to a status of regularly receivership - if not sold to a group of Orthodox New York investors, with whom negotiations were held in recent weeks.


The parties have consented to the freezing process, used for the execution order against a group of investors. They explained that this is the only chance to continue to operate the network in the meantime as a live company.

The court decided that for the purpose of completing the transaction the group of investors will have to deposit within 48 hours a total of 4 million through a bank guarantee or any other guarantee to be agreed upon with the Bank Mizrahi. Alternatively, a personal guarantee of one of the investors will be given to the banks satisfaction on a total of 10 million shekels.

In addition it was decided to convene a meeting of creditors within seven days. Mizrahi Tefahot is the largest creditor of Office Depot with a debt of 30 million.


A hearing stated that Mizrahi Tefahot, who was responsible for submitting the application for receivership against the company, asked investors for a flow of 10 million shekels to the company - and they refused. In light of this that even HaMashbir, Rami Shavit, has not streamed money to the company for a long time - an application was filed.

'בחדרי' גם ברשתות החברתיות - הצטרפו!