Jerusalem Court Appoints Trustee for Insolvent Neta Lifshitz Construction

The Jerusalem District Court appointed Adv. Amit Pines as the permanent trustee of Neta Lifshitz, a Jerusalem-based construction company established about 30 years ago. Judge Avigdor Dorot issued an insolvency proceeding order and instructed the company's temporary operation while the trustee prepares an initial assessment regarding its economic rehabilitation prospects.

In an earlier preliminary report, Pines recommended conducting a rapid and focused tender process to sell the company. The firm faces debts estimated at 44 million NIS owed to hundreds of suppliers and subcontractors. Additionally, the company failed to pay employee wages for August and September, rendering it insolvent and unable to meet its financial obligations. Most workers have already been laid off.

Represented by attorneys Shelly Nahum and Ilan Gelman, the company requested the appointment of a temporary trustee to ensure proper management, asset preservation, and operational continuity. Operating for roughly three decades, the firm specialized in residential and public construction projects in Jerusalem and its surrounding areas, holding a G-5 contractor classification allowing unlimited project volumes.

The company stated that prior to the outbreak of the Iron Swords War, it remained profitable and stable, recording revenues of approximately 142 million NIS in 2023. Attorneys Matan Elkayam and Guy Weiss, representing the majority of the employees, noted that workers regret the situation and thank the owners for the shared journey, emphasizing their commitment to securing full compensation.