The Supreme Court has ruled in the matter of former real estate developer Oren Kobi, dismissing his application for leave to appeal regarding the monthly payment order set during his ongoing bankruptcy proceedings. As reported by ice, Justice Alex Stein upheld the District Court's decision, which requires Kobi to deposit 30,000 NIS monthly into the creditors' fund, in light of his estimated personal debts of approximately 34 million NIS. It should be noted that in addition to his personal liabilities, there are outstanding debt claims against the companies he controlled amounting to approximately 239 million NIS.
In his ruling, the court criticized Kobi's conduct, noting that for a period of approximately 6. 5 years, the debtor failed to deposit any funds into the creditors' fund. Furthermore, allegations were raised in court that during this period, Kobi continued to maintain a lifestyle that included living in luxury apartments and using luxury vehicles. Conversely, Kobi argued in his request that his financial situation does not allow him to meet the set payment order and that his earning capacity has been significantly impaired due to his house arrest under electronic monitoring, alongside a court order prohibiting him from engaging in real estate business.
Based on this, Kobi requested to reduce the monthly payment to only 500 NIS. Justice Stein determined that there was no grounds for interfering with the District Court's decision, noting that the debtor failed to substantiate his claims regarding his lack of financial capacity with sufficient evidence at an earlier stage. However, the ruling clarified that the payment order is temporary, and following the submission of full and detailed financial reports by Kobi, a re-evaluation of the monthly payment amount will be possible.
In parallel to the bankruptcy proceedings, Kobi faces criminal proceedings, with four different indictments currently pending against him. The primary indictment charges him with obtaining something by fraud in aggravating circumstances and theft by an authorized person, related to his activities in the Adama group. Additionally, in 2025, another indictment was filed against him, including charges of creditor fraud and violating a court order prohibiting him from working in the real estate sector.