Joulus Gazit & Co.


“The Law to Erase the Debts of Economically Disadvantaged Debtors Will Enable Asset Concealment”

In the bill to amend the Execution Law, which will erase the debts of economically disadvantaged debtors, there is a loophole which will enable absconding with assets. When the proceedings against those debtors have ended, they will be able to enjoy their assets which were held in trust and which only the Israel Tax Authority knew of. In the article, Adv. Ram Joulus points to the loophole in the bill by giving the Israel Tax Authority quasi-judicial power to decide whether or not to appeal a settlement with a debtor, while it has a monopoly on the information.
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