Israeli Real Estate Developer Oren Kobi Seeks Relief from Bankruptcy Payments
Translated & summarized from Ice by baba
The story in 5 lines · by baba
- Oren Kobi, a bankrupt real estate developer, is seeking to revise his payment obligations.
- He claims he cannot afford the NIS 30,000 monthly payment ordered by the court.
- Kobi is also facing criminal charges for alleged fraud and defrauding creditors.
- He has shifted his business focus to international activities outside of Israeli real estate.
- Kobi believes his criminal case is weakening and he will be cleared.
Former Israeli real estate developer Oren Kobi, at the center of a significant real estate collapse, is making a new legal bid to alter his financial situation. After the Supreme Court rejected his appeal regarding a monthly payment order of NIS 30,000, Kobi has approached the Tel Aviv District Court again, urgently requesting a re-evaluation of his actual financial capacity. Kobi, who owned the "Adama" group that collapsed leaving hundreds of millions of shekels in debt, has been in ongoing bankruptcy proceedings since 2016. Claims totaling hundreds of millions of shekels were filed against him and companies he controlled, and he was officially declared bankrupt in August 2025. Concurrently, a criminal proceeding is underway against him on suspicion of defrauding creditors and fraud offenses, under which he is under house arrest with electronic monitoring and a ban on engaging in real estate.
Kobi now claims to have fulfilled all reporting requirements and provided the trustee, Adv. Hagai Ullman, with full financial data proving his inability to meet the monthly obligation. According to a YNET report, Kobi emphasized his complex situation to the court, stating, "I am doing everything in my power to remove the restrictions and return to the workforce, my earning capacity is completely zero." He added that while the Supreme Court allowed for a review of the order based on actual data rather than estimates, the trustee refuses to examine the new documents.
Sources close to Kobi express belief that an agreed-upon solution can be reached. A response from Kobi's representatives stated that he disputes the payment order, especially while negotiations are ongoing for a comprehensive creditors' arrangement. Kobi noted that he has shifted his focus to international activities and is no longer operating in Israeli real estate. Regarding the criminal proceedings, Kobi believes the case against him is weakening and is confident that a clarification of the evidence in court will reveal the true picture and clear him of any wrongdoing.
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