oceansix future paths Ltd. Announces Filing for Debt Settlement under Israeli Insolvency and Financial Rehabilitation Law
Rhea-AI Summary
oceansix Future Paths has received court approval for its Request to Approve a Debt Settlement filed with the Tel Aviv District Court under Israeli Insolvency and Financial Rehabilitation Law. The company has issued a formal notice inviting creditors to submit debt claims by January 19, 2025 if they are not mentioned in Form 1 or dispute their listed debt amount. Any parties who may be harmed by the proposed debt arrangement must submit objections by January 5, 2025. The proceedings are taking place under Insolvency Case 73920-11-24 before Judge H. Brenner.
Positive
- None.
Negative
- Company has filed for insolvency and debt settlement
- Financial distress indicated by need for debt restructuring
- Potential impact on shareholder value due to insolvency proceedings
News Market Reaction
On the day this news was published, AKMYF declined 85.88%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Tel Aviv, Israel--(Newsfile Corp. - December 20, 2024) - oceansix Future Paths Ltd. ("Oceansix" or the "Company"), announces that its Request to Approve a Debt Settlement filed with the Tel Aviv District Court in Israel pursuant to the Israeli Insolvency and Financial Rehabilitation Law, 5778-2018, previously announced on November 28, 2024, has been approved by the Court. In furtherance thereof the Company wishes to publish the following Notice:
| In the District Court Tel Aviv-Yafo | Insolvency Case 73920-11-24 Before Hon. Judge H. Brenner | ||
In the matter of: | The Insolvency and Economic Rehabilitation Law, 2018 | "Insolvency Law" | |
And in the matter of: | Oceansix Future Paths Ltd., Company No. 514090026 | "The Company" | |
And in the matter of: | The Official Receiver for Insolvency and Economic Rehabilitation - Corporate Department | "The Official Receiver" | |
And in the matter of: | The Israel Securities Authority | "The Authority" | |
Notice Regarding Filing of Debt Arrangement Approval Motion and Invitation to Submit Debt Claims
According to the decision of the Tel Aviv-Yafo District Court (Hon. Deputy President Judge H. Brenner) dated December 19, 2024, notice is hereby given that Oceansix Future Paths Ltd., Company No. 514090026 (hereinafter: "the Company") has submitted to the aforementioned Court a motion for approval of its proposed debt arrangement (hereinafter: "the Motion") within the framework of Insolvency Case 73920-11-24.
Any creditor claiming a debt from the Company who is not mentioned in Form 1 attached to the Motion, and/or who disputes the amount of debt owed to them as detailed in said Form 1, must submit a debt claim to the Company within 30 days from the date of publication of this notice, namely by January 19, 2025 at 5:00 PM (Israel Time), by submitting it to the Company's legal representatives whose details are below.
Any person or other entity who believes they may be harmed by the proposed debt arrangement must submit their objection to the Motion within 14 days from the date of publication of this notice, namely by January 5, 2025 at 5:00 PM (Israel Time), by submitting it to the Company's legal representatives whose details are below.
A copy of the Debt Arrangement Approval request and additional details can be obtained by contacting the law firm of Gornitzky & Co., representing the Company, by phone - 03-7109191 or by email at lironka@Gornitzky.com, Galm@Gornitzky.com.
Amnon Biss, Adv.
Gornitzky & Co.
Company's Legal Representatives
About oceansix
For further information about oceansix, please contact:
Elad Hameiri, CEO | +34 673 435 571 oceansix future paths Ltd
Disclaimers
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange's policies) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234819
FAQ
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