OpenWeb Trustee Ehud Gindes' Management Powers and Safeguards Disclosed

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. Judge Hagai Brenner of the Tel Aviv-Yafo District Court required a personal undertaking of NIS 200,000 and an affidavit within 2 days confirming no conflict of interest. Gindes must submit an initial report, including recommendations on possible action, within 10 days. The identity and conditions were reported on Sunday after the earlier temporary-receiver decision; the order does not resolve the dispute with the secured creditor.