HUB Security Faces Insolvency Petition as Court Keeps QPoint Share Attachments

Newly disclosed proceedings show that Asiag Consultants has petitioned to open insolvency proceedings against HUB Security and appoint a trustee, alleging unpaid consulting debt and insolvency. Separately, Tel Aviv District Court refused to remove attachments over HUB's QPoint shares in a dispute involving Y.H. Lahav Financial and Strategic Consulting. HUB argued that retaining them could frustrate its planned sale and harm the company and purchasers. In August, HUB announced an agreement to sell 100% of QPoint Group to Malam Team Group for approximately $8.7 million, to repay substantially all debt secured by those shares; closing remained subject to conditions and approvals.