Former Real Estate Mogul Oren Kobi Ordered to Pay 30,000 Shekels Monthly in Bankruptcy Case
The Tel Aviv District Court has ordered former real estate businessman Oren Kobi, who faces multiple criminal indictments, to pay 30,000 shekels per month as part of his ongoing bankruptcy proceedings. The ruling, issued recently, highlighted that Kobi has not contributed any payments to his creditors' fund for over six and a half years, despite living a lavish lifestyle at their expense. Kobi is currently charged in four criminal cases, including a six-year-old major indictment accusing him of aggravated fraud, theft by an authorized person, and other offenses related to his activities with the Adama Group, which sold agricultural land.
The court noted that Kobi continued residing in luxury apartments and using high-end vehicles while hiding assets from creditors and the bankruptcy trustee. His personal debts total approximately 34 million shekels, with company debts under his control reaching around 230 million shekels. Kobi was declared bankrupt in 2017, but the ruling was initially frozen due to attempts to reach debt settlements. He breached the first settlement approved in 2018 and also failed to meet obligations under a second settlement approved in 2025. In August 2025, he was officially declared bankrupt again.
The trustee, attorney Hagai Ulman, supported by attorney Vald Zabluda, filed the request for monthly payments, citing Kobi's expensive lifestyle, including luxury apartment rents of 16,000 shekels per month and luxury car expenses of 14,000 shekels monthly. The court also referenced Kobi's costly legal representation by top-tier Israeli lawyers Amit Hadad and Zion Amir. Kobi claimed his recent house arrest prevented him from working and that his mother pays the rent for their shared apartment, denying use of luxury cars. However, the judge found his claims unsupported by evidence.
Previously, Kobi rented luxury apartments in Tel Aviv's Babli and Yoo Towers, with rents reaching up to 30,000 shekels monthly. The judge described the bankruptcy case as exceptional, beginning in 2016 due to Kobi's financial mismanagement and commingling of personal and company assets. Kobi reportedly used company funds for personal luxury purchases, including real estate in Tel Aviv and Shoham and luxury vehicles such as Range Rovers and Mercedes. The case underscores ongoing challenges in Israel's real estate market and creditor protections.
