Israeli Tech College Admits Insolvency, Agrees to Liquidation
Translated & summarized from Calcalist by baba
Israeli tech college SVCollege has informed the court it is insolvent and agrees to liquidation, citing severe financial difficulties. The move follows a petition by two former employees alleging unpaid wages and benefits, and debts to suppliers and students. The college has arranged for other institutions to accept students without extra cost to complete their studies.
The story in 5 lines · by baba
- SVCollege, an Israeli tech college, has declared insolvency and agreed to liquidation proceedings.
- The college cited severe financial and cash flow problems as the reason for its inability to continue operations.
- Two former employees filed a liquidation petition alleging unpaid wages and benefits.
- The college owes money to suppliers and students who paid tuition for uncompleted courses.
- SVCollege has arranged for students to transfer to other colleges to finish their studies at no additional cost.
SVCollege, a tech college that has trained thousands of students, has informed the court that it does not oppose a liquidation request and acknowledges its insolvency. The college, operated by S.V. Techpro, stated in its official response to the court, submitted through its lawyer Eyal Zeller, that it has recently encountered severe financial and cash flow difficulties preventing it from continuing operations or meeting its obligations to employees, students, and suppliers. The company admitted it is in a state of insolvency, believing that liquidation and the appointment of a trustee are the most effective steps to preserve assets and distribute them to creditors under court supervision.
The company's admission came in response to a liquidation petition filed by two former employees, represented by lawyer Roi Shapir. The petition alleged that the company ceased all business operations, leaving behind debts. According to the former employees, the company failed to pay them wages for August and September 2026, as well as final settlements and social benefits, including severance pay and pension contributions. The petition also noted outstanding debts to suppliers and students who had paid tuition for courses that would not be held.
In its response, filed in the case before Judge Noa Grossman, the college stated that its management had worked diligently to find alternative solutions for students, arranging for other colleges to accept them without additional cost and pledging full cooperation with any appointed trustee. In a separate notice to students, the college expressed regret that due to its financial situation and cessation of operations, it could not provide refunds for unfulfilled studies, acknowledging the hardship this caused.
Lawyer Eyal Zeller reiterated that prior to the employees' petition, the college's management had made every effort to find solutions for students, securing agreements from competing colleges to admit them and allow them to complete their registered courses, thereby minimizing damages. The college expressed hope that students would utilize this opportunity and wished them success, inviting those interested in transferring to contact the college's management, who remain available.
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