Debt Collection in Israel
You have a court ruling from your home jurisdiction and need it to be executed in Israel? Or you do not have a court ruling yet and are in urgent need of debt collection and debt recovery in Israel?
Our over ten years of hands on experience in the field of international debt recovery, debt collection and insolvency in several jurisdictions, enable us to advise our international clients in an embracing, competent and practical manner.
We are happy to give you some practical advice in this field:
Execution of Foreign Judgments
In order to execute an overseas judgement in Israel, execution proceedings (exequatur) have to be initiated, in which the court will examine whether the conditions requested by local (Israeli) execution law are fulfilled. In general, Israeli law follows the overall pattern of execution of foreign judgements, under which, as a rule, foreign court rulings are to be executed without examining their contents.
In the event that you do not have a judgement but only a debt against an Israeli debtor, it might be preferable to initiate court proceedings in Israel, even if the legal status would allow for court at your domicile: During debt collection proceedings in Israel, we are able to file requests for injunctions and provisionary orders to preserve the assets which may later be used to collect your debt. Such measures may consist in an account lock, a ban on leaving the country for fugitive debtors or a court inhibition to sell real estate and may substantially increase your chances to recover your entire debts and court expenses.
After receiving an Israeli judgement or an Israeli execution order for a foreign judgement, debt collection proceedings must be initiated with the relevant department of the local courts. This process, in which assets of the debtor must be liquidated in a cost-efficient manner, may be lengthy at times and usually requires some important decision making. In certain cases, such proceedings may lead to the insolvency of the debtor.
The representation of foreign creditors in Israeli insolvency proceedings requires a substantial amount of practical experience in the international field and the understanding of interferences between different jurisdictions. Our team is proud of its vast experience and the success of our clients in recovering an above average percentage of their debts in insolvency proceedings.