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Artist Must Vacate Jerusalem Home Over Massive Debt, Israel's Supreme Court Rules
Israel's Supreme Court has ordered artist Ariel Platzig to vacate his Jerusalem home and complex due to a 24 million shekel debt owed to Meitav Finance. The court ruled that the entire complex, including the residential wing, must be surrendered to cover the debt, though the lender must fund alternative housing.
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What happened
- 01Artist Ariel Platzig must vacate his Jerusalem complex over a 24 million shekel debt.
- 02Israel's Supreme Court denied his appeal to avoid eviction from his residence.
- 03The lender, Meitav Finance, must provide Platzig with alternative housing.
- 04Platzig pledged his entire complex, including commercial and residential wings, as collateral.
- 05The court cited harm to the credit market from delayed collateral realization.
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