Restructuring Corporate Debt in Israel

Israel is experiencing a wave of debt-restructurings after a decade of rapid growth in the corporate-bond market. According to the World Bank Index, Israel has one of the most ineffective processes for resolving insolvency, whether through liquidation or debt restructuring.

This research reviews debt restructuring and analyzes possible ex-post and ex-ante outcomes and risks–factors that might optimize the capital market and improve the performance of failing businesses, yet could also increase moral hazard and drive up the cost of raising capital.

Andrey Yanai
As a fellow, Andrey interned at the Bank of Israel. His research focused on Restructuring Corporate Debt in Israel. Prior to joining the Milken Fellows Program, Yanai served as a state attorney in the Fiscal Unit of the Prosecutor's Office...
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