The Bankruptcy Code invalidates "ipso facto" clauses in executory contracts or unexpired leases that purport to modify or terminate the contract or lease (or the debtor's rights or.
A Brooklyn real estate development firm owned by Yoel Goldman filed for bankruptcy protection in New York court saying the COVID-19 pandemic ravaged its revenue sources, and it was unable to execute an out-of-court restructuring of its $1.6 billion in secured debt.
ISA opens probe into Yoel Goldman s All Year Holdings
US company All Year Holdings raised over NIS 2 billion from Israeli investors, who have presented the debt for immediate repayment.
The Israel Securities Authority (ISA) has opened an investigation into US company All Year Holdings Ltd. (TASE: ALYR), which has bonds traded on the Tel Aviv Stock Exchange. The company deals in income producing real estate in New York, and is owned by Yoel Goldman, who is based in New York. The company raised over NIS 2 billion from Israeli investors, and it has encountered difficulties in making payments due to the bondholders.