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{"id":54540,"date":"2021-02-23T15:26:20","date_gmt":"2021-02-23T13:26:20","guid":{"rendered":"https:\/\/lawoffice.org.il\/%d7%97%d7%99%d7%95%d7%91%d7%99%d7%9d-%d7%91%d7%94%d7%9c%d7%99%d7%9a-%d7%97%d7%93%d7%9c%d7%95%d7%aa-%d7%a4%d7%a8%d7%a2%d7%95%d7%9f\/"},"modified":"2023-03-21T12:42:58","modified_gmt":"2023-03-21T10:42:58","slug":"debtors-in-insolvency-proceedings","status":"publish","type":"post","link":"https:\/\/lawfirmbackup_200125.k1uagm.ap-southeast-2.wpstaqhosting.com\/en\/debtors-in-insolvency-proceedings\/","title":{"rendered":"Obligations of Debtors in Insolvency Proceedings"},"content":{"rendered":"

In insolvency proceedings, the debtor encounters a number of obligations that are imposed on him by the official authorities conducting the proceedings. The debtor’s cooperation and good faith<\/a> constitute a very important factor as the proceedings progress toward receiving the desired discharge. The legislature imposes a number of obligations on debtors in insolvency proceedings in order to successfully complete them. This article explains in detail what obligations are imposed on the debtor in insolvency proceedings and what their implications are for the continuation of the proceedings.<\/p>\n

Letter of Commitment<\/u><\/strong><\/h4>\n

The insolvency proceedings<\/a> commence by the filing of a request for a Receivership order and the declaration of the debtor as bankrupt. The official Receiver submits his opinion on the request and the request is then forwarded to the court for approval. In order for the court to approve the debtor’s request, the debtor must sign the letter of commitment, in which he undertakes to accept, inter alia, the following provisions:<\/p>\n