OpenWeb Trustee Ehud Gindes' Management Powers and Safeguards Disclosed (Updated)
Updates
- October 4, 2026: Newly disclosed court terms identify attorney Ehud Gindes as OpenWeb's temporary trustee, with powers to oversee proper management and safeguard the company's assets.
Original report
OpenWeb asked the Tel Aviv District Court to appoint a temporary trustee, stay proceedings and bar asset disposals as the Israeli technology firm faces a cash shortfall. In its petition, the company reported about NIS 177.5 million in liabilities and NIS 42.6 million in cash at the end of August, and said it needs roughly NIS 15 million immediately. OpenWeb alleged that a lender seized $7.3 million from overseas accounts, disrupting a proposed $14 million investment. Chief executive Jim Daily told employees that wages had been paid and operations were continuing. The court had not been reported to grant the requested relief.
Commentary
Loading comments…