We are proud to announce that as previous years, the Israeli ranking guide BDI has ranked our firm as a leader in the Debt Settlement and Liquidations & Receiverships fields in this year's ranking.
We would like to congratulate our client Israel Canada for completing its acquisition of Minrav projects Ltd., despite the challenges of these times. Our firm with the lead of Adv. Israel Shimonov, Adv. Ayana Wechsler and our colleagues at Goldfarb Seligman represented the group in the significant acquisition.
Our law firm represented The Leser Group, a real estate group that handles income-producing real estate in New York, in a round of raising a new series of bonds secured by a mortgage on three real estate properties in New York, amounting at NIS 168 million (with a total monetary...
value of 164 NIS million) at an interest rate of 5%.
Our firm is proud to represent Doral-Energy Group, a group expanding rapidly in the energy market in Israel and the US, in its IPO that took place this week. The IPO was made at a company value of NIS 575 million before raising capital. Dorel was represented by Adv. Israel Shimonov and Adv. Ayana Wechsler. The IPO was the first of its kind to take place since he Covid-19 crisis outbreak, and we are proud to say that even during these challenging times, our firm continues to be in the centre of business world in Israel.
Adv. Amir Bartov, senior partner at our firm represented Cal Auto Group during the last year in a complex recovery and settlement proceeding, as well as the sale transaction of the company that was acquired by Carasso Motors Ltd, another longtime client of the firm. Completion of the complex merger transaction entailed the execution and completion of a large-scale voluntary creditors' agreement which involved many funding institutions outside the court's discretion, in full cooperation with the company's financial creditors. Our firm wishes both clients good luck in their future endeavors in the automotive business.
Proud to be ranked as one of Israel’s leading firms (tier1) in both the Capital Markets and Insolvency practice areas by the Israeli ranking guide Duns'100 for 2020.
As in previous years, our firm has been ranked by the international ranking guide, The Legal 500, among the top Israeli law firms in the Capital Market practice area - with Adv. Israel Shimonov ranked as one of the foremost experts in the field. The guide also acknowledged our firm as a leader in the Insolvency practice area which is lead by Adv. Amir Bartov.
Additional COVID19 crisis concessions for the capital markets: The Israeli Securities Authority announced yesterday additional concessions for regulated entities, primarily granting a 30-days extension for filing the quarterly reports for the first quarter (until June 30, 2020), as well as a postponement of the expiration of shelf prospectus by 60 days for prospectuses that expire during this period.
The Israeli Securities Authority (ISA) announced a few reliefs following implications of the Coronavirus outbreak on the business operations of reporting corporations. The ISA announced a 30 days extension for Israeli corporations to publish their periodic reports for the year of 2019 (till 30.4.2020).
Shimonov & Co. law firm is proud to be ranked as a leading firm in the Capital Markets practice area by the Chambers and Partners International Ranking Guide for 2020, as well as the ranking of Adv. Israel Shimonov and Adv. Amir Bartov as Israel's leading lawyers in their fields.
Our law firm, represented Elad Group, Izhak Tshuva, real estate group in North America in a NIS Million 500 of bonds which were offered to institutional investors and registered on Rezef - TASE. Elad was represented by, Israel Shimonov, Dudi Berland, Oren Elkabetz, Benjamin Ben Zimra and Ido Lachman
Two Israeli medical cannabis companies are merging – Cannbit Pharmaceuticals Ltd. has completed its acquisition of “Tikun Olam” activity in Israel. Simultaneously, Cannbit completed a public equity offering of NIS 26.5 million, a big step in the Israeli medical cannabis industry. Cannbit was represented by Adv. Israel Shimonov and Adv. Nir Cohen Sasson.