After intensive negotiations over the past 24 hours, a petition to open insolvency proceedings against Landa Labs, the innovation and research arm of Benny Landa’s group, was withdrawn. The petition had been filed yesterday at the Central District Court by the German company Altana Netherlands B.V., and by mutual request of the parties, Judge Hana Kitsis ordered it deleted and the case closed.
That means no insolvency process will be opened against the company. The filing had claimed that Landa Labs failed to repay a 16 million euro loan from Altana, which was due on May 20, 2025. Landa Labs (2012) had been identified in the petition as the research and innovation arm of the Landa Group.
After the court filing, the creditor and Landa Labs held what the petition described as “intensive contacts,” leading to an agreed commercial framework for the loan. According to the agreement outlined in court, the debt will be restructured over the long term, subject to a final deal to be signed later. The sides also agreed that withdrawing the petition would not waive or delay any claims either may have against the other.
People close to the talks said the dispute was “a storm in a teacup” caused by a misunderstanding during the negotiations. Altana and Landa Labs previously held shares in Landa Corporation, which ran into financial trouble last year and was recently sold to FIMI in a court process. Altana is represented by attorneys Guy Ido, Keren Reichbach Segal, and Itay Shani of Gornitzky & Co., while Landa Labs is represented by attorney Yedidya Melchior.
