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Insights & News / David (Dudi) Cohen
Mediterranean Towers Expands Operations with ILS 700 Million Senior Living Project
Adv. Dudi Cohen, a partner and head of the firm's Capital Markets Department, and Adv. Omri Oren, a partner in the Capital Markets Department, are advising Mediterranean Towers Ltd. on its successful bid in the Givat Shmuel Municipality tender for the development of a new senior living community. The project, valued at approximately ILS 700 million, is expected to include around 350 residential units, a skilled nursing ward, commercial space, and public facilities, further expanding the company's senior living portfolio in Israel.
Mediterranean Towers and Clal Insurance & Finance Establish Joint Venture
Mediterranean Towers and Clal Insurance & Finance have signed an agreement to invest ILS 500 million for the establishment of a joint venture to locate and develop senior housing enterprises. The ILS 500 million will serve as the JV's equity capital, for up to ILS 3.3 billion in financing. Mediterranean Towers, a leader in senior housing complexes in Israel, will invest ILS 200 million in the joint venture and will own 51% of the rights and capital of the JV. Adv. David (Dudi) Cohen and Adv. Omri Oren represented Mediterranean Towers in the deal.
Advantage to Israeli Banks When Self-Exercising a Deposited Pledge
Collateral in the form of a deposited pledge is an easy and inexpensive way to secure credit. However, Israeli law does not allow foreign banks to benefit from an efficient and effective mechanism enabling debt recovery by way of the self-exercise of collateral. There is no real justification for this and it harms competition in the credit market.
Stock Market Skeletons: Adv. Dudi Cohen Interview with Globes
Stock market skeletons are raising their heads. Recently, several skeleton companies have announced talks about merging with private companies who have substantial activity. Adv. Dudi Cohen, head of our firm’s Finance and Public Corporations Department, was interviewed by Globes on the phenomenon. He shed some light on the issue of stock market skeletons and the legal problems that may arise as a result.