Real Estate Developer Oren Kobi Ordered to Pay $30,000 Monthly in Bankruptcy

Israel's Supreme Court has rejected a request by former real estate developer Oren Kobi to reduce his monthly payments as part of his bankruptcy proceedings. Kobi is now required to pay NIS 30,000 (approximately $8,100 USD) per month to the bankruptcy estate. His personal debts amount to approximately NIS 34 million (around $9.2 million USD), with additional claims of NIS 239 million (about $65 million USD) against companies he controlled.

The District Court previously ruled that Kobi failed to deposit funds into the bankruptcy estate for 6.5 years, during which time he maintained a lifestyle including luxury apartments and vehicles. Kobi had argued that his financial situation, including house arrest and a ban on business activities in real estate, made him unable to meet the payment, requesting it be lowered to NIS 500 (about $135 USD) per month.

Supreme Court Justice Alex Stein dismissed Kobi's appeal, stating there was no reason to overturn the District Court's decision. He noted Kobi's prolonged failure to deposit funds and his late submission of evidence regarding his financial status. However, the Supreme Court clarified that the payment order is temporary and can be re-evaluated once Kobi provides full financial reports.

In parallel to his bankruptcy, Kobi faces four indictments. The most significant concerns his activities with the Adama Group, where he is accused of fraud, theft by an authorized person, and other offenses. Another indictment from 2025 includes charges of violating a real estate business ban and defrauding creditors.