About the company

The Company deals in the factoring of delinquent debt (primarily returned checks) by buying the debts of private debtors of retail companies, according to the risk assessment model adopted by the Company.

The Company has been engaged in this business for more then three years – since August 2004, having studied the market in the U.S.A. and Europe and developed a risk assessment model adapted to the specific characteristics of the Israeli debtor and the capacity of the collection system – i.e. the courts and the Execution Office.

Following the Company’s successful penetration of the Israeli market, it raised equity capital from shareholders.

The Company works with leading companies in the Israeli economy and with major retailers

The rights in the debt are assigned to the Company against an infusion of working capital

The transaction entails assigning the rights in the debt to the company which then passes the debts on to a designated Law Office that deals with the entire collection process according to certain legal and economic parameters, on the basis of financial models adopted by the company.

The Company manages thousands of files for the foremost retailers in various fields such as, apparel, food, furnishings, and electrical products.

The Company’s services have recently been adopted by the Israel Garages Association, the Association of Commerce and Industry, and the Association of Chambers of Commerce, and are now offered to their members. To increase awareness of the Company’s products, its representatives hold seminars for the various associations into which these products are incorporated and new customers recruited.

The Company operates under a valid license from the Ministry of Justice and the Ministry of Finance capital markets and savings division and the department for providing currency services.

In line with the developing market, the Company offers its customers a variety of models, the primary ones being the purchase of debts for cash, the purchase of debts on consignment, and the provision of legal services paid for by the customer.

Management:

The management team has experience in this sector and are legally qualified

• Kalman Elia – Chairman, business development and strategy manager. Science graduate cum laude of the Technion (B.Sc. E.E.). 20 years experience in industry and management and now an active partner in the Company.

• Attorney Eran Neeman (LL.B in Law) – CEO. An attorney by profession with vast experience of debt collection. Formerly owner of a law office, legal advisor to the collections department of the Israel Discount Bank Ltd., and a member of the department’s management. Specialist in the laws of insolvency, collections, receivership, liquidation, freezing legal proceedings, and now a partner in the Company and its acting CEO.

• Attorney Keren Zaken (LL.B. in Law) – legal advisor, a prime mover in the establishment of the Company, manager of quality control of proceedings and a specialist in the collection of small debts and the management of Execution Office procedures.

• Sean Barzilai – financial director.