Tel Aviv Court Appoints Trustee Over Nochi Dankner’s Assets Following Bankruptcy Declaration

The Tel Aviv District Court appointed attorney Ran Masika as trustee over the assets of Nochi Dankner, the former controlling shareholder of IDB, following his bankruptcy declaration last week. Masika is tasked with examining Dankner’s financial status, whose debts to banks total approximately 550 million shekels. The trustee will conduct a comprehensive review of Dankner’s current and past assets and the circumstances leading to his financial collapse.

Masika, who also serves as trustee in other insolvency cases including the Yonet affair and businessman Asher Ben Oz, will summon Dankner for a financial inquiry within three months and must submit a detailed report by May 2027. Among Masika’s duties is to notify the credit card issuer to terminate Dankner’s credit card.

The bankruptcy proceeding was initiated last week by Judge Nurit Tabib-Mizrahi of the Tel Aviv Magistrate’s Court at the request of Bank Hapoalim, Bank Leumi, Mizrahi-Tefahot, and Discount Bank. This followed Dankner’s failure to meet an updated debt arrangement agreed upon in December 2025. Dankner’s original debt was estimated at 510 million shekels, mostly from personal guarantees on loans taken by private companies through which he controlled the IDB group, including Ganden and Tomahawk. Part of the debt also relates to guarantees for his cousin, former Bank Hapoalim chairman Danny Dankner.

After IDB’s collapse in 2016, Dankner signed a debt arrangement committing to repay 180 million shekels by March 2024 and to assign future income until full repayment of all debts, totaling about 500 million shekels. To date, he has repaid around 110 million shekels, including principal and accrued interest.

The court imposed restrictions on Dankner under insolvency law, including a ban on holding a passport or leaving Israel without court approval, prohibition on holding a credit card without trustee consent (except for debit or cash withdrawal cards), and maintaining a positive bank balance without credit. He is also barred from establishing or holding interests in corporations without court permission and must regularly report his living expenses and assets to the trustee.