In 2019, our firm provided legal advice and guidance in the transaction for the acquisition of cannabis grower Tikun Olam's Israeli business by Cannbit Ltd.
The Carasso Group signed a conditional sale agreement for the purchase of car leasing and rental company "Cal Auto" which, subject to several suspensive conditions, will enter into effect. This is a strategic transaction that will expand Carasso's car leasing and rental activities. Cal Auto has line of credit from the banking industry, excluding the First International Bank Ltd. Cal Auto's liabilities amount to NIS 1.45 billion, with total assets amounting to NIS 1.6 billion. As part of the transaction, Carasso assumed Cal Auto's liabilities. Cal Auto Group is represented by adv. Amir Bar-Tov and Ayelet Berkovich Simchovitch.
The companies Ortam Sahar Engineering Ltd, Ortam Sahar Infrastructures and Construction Ltd. and Malibu Construction Ltd. (hereinafter – "the Ortam Group"), with respect to which a creditors arrangement was authorized in 2016 by the Tel Aviv Jaffa District Court, filed a petition to commence proceeding, by way of a stay of proceedings, due to cash flow difficulties the Group experienced in the wake of the creditors arrangement. This was due to the group's inability to take out loans in order to issue bank guarantees for the parties that commissioned the projects, to support their new activity. The president of the Tel Aviv Jaffa District Court, the Hon. Judge E. Orenstein, granted the motion and appointed the trustees for the previous arrangement as trustees for the Group companies. The companies were represented by adv. Amir Bar-Tov and Shimrit Melman from our Firm.