Today, the Central District Court approved the request of innovative printing machines company Landa Digital Printing, founded by serial entrepreneur Benny Landa, for a two-month stay of proceedings.
During this period, which began with the filing of the request and will end at the end of August, the company’s creditors will not be able to sue it, and Landa will be able to find a possible buyer, and put together a debt settlement. The court appointed CPA Shlomi Filiba and Adv. Sigal Rozen-Rechav as administrators of the settlement in the company.
Landa Digital Printing, which filed the application for a stay of proceedings through Adv. David Hahn, Adv. Aaron Michaeli, and Adv. Yehuda Rosenthal of Goldfarb Gross Seligman, has debt of NIS 1.7 billion arising from loans from investors and purchases of raw materials. It has raised a total of $1.3 billion from European investors, among them German companies SKion and Altana, and Singaporean-Swiss investment fund Winder, financially powerful entities under family ownership, which decided not to continue supporting the company, because of the war in the Gaza Strip.
According to the company’s application for protection from its creditors, the NIS 1.7 billion debt is entirely to secured creditors, and creditors owed NIS 900 million out of the total support the application. The debt to the investors, which, as mentioned, represents the lion’s share of the company’s liabilities, arises from loans to the company. The company also owes NIS 25 million to Mizrahi Tefahot Bank, and additional sums to its employees and suppliers.
Benny Landa invested $200 million from his own pocket in the company in the past, but in recent years his involvement in it has declined. The application for a stay of proceedings came two weeks after a downsizing in which the company laid off more than 100 employees. Now, a company mentioned as a leading candidate to buy Landa Digital Printing is HP, to which Benny Landa sold Indigo for $629 million in HP stock and potential future payments of $253 million in 2001.
The Commissioner of Insolvency and Financial Rehabilitation Proceedings in the Ministry of Justice also supported the application, as did more than 200 of the company’s employees, represented by Adv. Liza Hadash, who said that the company had promised payment of their salaries for June and July. In addition, thirty of Landa Digital Printing’s customers from around the world wrote to the court in support of giving the company an opportunity to put together a settlement that would ensure its continued operation.
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On the other hand, 25 employees represented by Adv. Offir Ronen objected to the stay of proceedings, arguing that insolvency proceedings should be commenced and a receiver to run an auction for the sale of the company should be appointed, and that the employees should be enabled to receive their salaries from the National Insurance Institute.
Published by Globes, Israel business news – en.globes.co.il – on July 10, 2025.
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