Israel Practice

Chapman is highly ranked in Israel Desk's league tables, placing among the Top 10 Israel Practices in Banking & Finance, Capital Markets, and Real Estate.

Chapman’s focus on finance, combined with our substantial experience representing Israeli clients, makes us uniquely situated to advise Israeli fintechs, financial institutions, investment funds, and law firms seeking US-based counsel in finance and regulatory related matters.

Our service offering covers a wide variety of financial products and financing instruments, including:

• Secured and unsecured loans
• Real estate finance
• Note and securities issuances
• US and cross-border workout, restructuring, bankruptcy, and litigation matters
• Distressed real estate transactions
• Mergers, acquisitions, and joint ventures
• Asset securitization and warehouse lines
• Fund formation and investments in private funds
• Fintech and marketplace lending
• Regulatory, compliance, and licensing matters

Loans and Investments / M&A

Chapman represents Israeli funds and investors in connection with US company investments and advises US funds and investors in connection with Israeli company investments as well as financial institutions and credit funds providing private credit facilities. Representative matters include:

• US counsel to an Israel-based lender in connection with a $100 million construction loan to the developer of a luxury condominium project in Dallas, Texas. 

• US counsel to an Israel-based family office lender in connection with a loan to the developer of a multifamily project in New York. 

• US counsel to an Israel-based credit fund in connection with mezzanine loans and equity investments to finance Manhattan condominium construction projects in New York.

• US counsel to an Israel-based equity investor in multiple joint ventures to acquire multifamily properties in Indiana, Kentucky, Ohio, and Texas.

• US counsel to an Israel-based lender in connection with a $45 million inventory loan for a condominium project in Brooklyn, New York.

• US counsel to an Israel-based fund in a $20 million equity investment in connection with the acquisition of a portfolio of hotels in New York and Connecticut.

• US counsel to an Israel-based lender in connection with a $65 million loan to a multi-jurisdictional real estate development company with holdings in Israel, the United States, and Canada.

• US counsel to an Israel-based purchaser of a distressed mortgage loan secured by a commercial office building in New Jersey.

• US counsel to the purchaser of equity interests in a US-based producer of audio-visual products from an Israeli company.

Debt Issuances / Capital Markets Transactions

Chapman serves as US counsel in debt private placements and the issuance of new publicly traded debt securities, and we have been retained in innovative, first-to-market transactions. Representative matters include:

• US counsel to the indenture trustee in connection with the issuance by Israel Discount Bank of $800 million of senior notes. This was the bank’s first dollar-based international bond issue, which expanded funding sources among foreign institutional investors.
• US counsel to the indenture trustee in connection with the issuance by Bank Leumi of $500 million of tier 2 contingent convertible (CoCo) green notes. This was the bank’s first offering under its new Green Bond Framework through which an amount equal to the net proceeds will be used to finance a variety of eco-friendly projects.
• US counsel to the indenture trustee in connection with the issuance by Bank Leumi of $750 million of contingent convertible (CoCo) notes, the first international issuance of CoCo notes by an Israeli bank.
• US counsel to the indenture trustee in connection with the issuance by Mizrahi-Tefahot Bank of $600 million of contingent convertible (CoCo) notes, the second international issuance of CoCo notes by an Israeli bank.
• US counsel to the indenture trustee in connection with the issuance by Bank Hapoalim of $1 billion of green contingent convertible (CoCo) bonds, the first international issuance of green CoCo notes by an Israeli bank in accordance with the Green Bond Principles.
• US counsel to the indenture trustee in connection with the issuance by Bank Leumi of $500 million of international senior unsecured notes—the first offering of international senior unsecured notes by an Israeli bank.
• US counsel to the indenture trustee in connection with the issuance by Sapir Corp. of approximately $89 million of Tel Aviv Stock Exchange traded bonds secured by the NoMo Soho boutique hotel in New York City.
• US counsel to the indenture trustee in connection with the issuance by GFI Real Estate Ltd. of approximately $57 million of Tel Aviv Stock Exchange traded bonds secured by The Beekman hotel in New York City.

Restructuring and Litigation Matters

Chapman is a go-to firm in the US for restructuring and litigation matters and serve as counsel on high-profile default matters involving Tel Aviv Stock Exchange (TASE) traded bonds. Representative matters include:

• US counsel to the indenture trustee in multi-jurisdictional insolvency proceedings, including chapter 11 in the US, in connection with the restructuring of more than $750 million of Tel Aviv Stock Exchange traded bonds issued by All Year Holdings Ltd., a British Virgin Islands company whose US subsidiaries hold in excess of one hundred multifamily real estate properties.

  • US counsel to the indenture trustee in connection with the restructuring of $250 million of bonds secured by The Denizen, a 911-unit residential apartment building in Brooklyn, New York; The Denizen was sold in a bankruptcy court approved sale for $506 million, reported as the largest single asset multifamily transaction in the US since 2018.

  • US counsel to the indenture trustee and certain bondholders in an involuntary bankruptcy petition in connection with the restructuring of $180 million of bonds secured by the William Vale Hotel in Williamsburg, New York. The matter concluded with the court approved sale of the William Vale Hotel for $177 million in 2024.

• US counsel to the Plan Administrator and Claims Administrator appointed in the All Year Holdings Ltd. chapter 11 bankruptcy case in connection with claims and suits against multiple parties and recovery of funds for the benefit of creditors.

• US counsel to the indenture trustee in connection to with the restructuring of approximately $60 million of bonds traded on the Tel Aviv Stock Exchange issued by Delshah Capital Limited, a British Virgin Islands issuer whose US subsidiaries are engaged in the acquisition and development of real estate projects in the New York City metro area.

  • US counsel to the indenture trustee in connection with the sale of the RH Guesthouse in Manhattan, New York for $57.7 million in a private transaction which was collateral for bonds issued by Delshah Capital Limited.

• US counsel to the indenture trustee in connection with the restructuring of approximately $140 million of bonds traded on the Tel Aviv Stock Exchange issued by Hertz Properties Group Ltd., a British Virgin Islands issuer whose US subsidiaries are engaged in the acquisition, development, and management of commercial office properties throughout the United States.

• US counsel to the indenture trustee in connection with the restructuring of approximately $275 million of bonds traded on the Tel Aviv Stock Exchange issued by Zarasai Group Ltd,, a British Virgin Islands issuer whose US subsidiaries are engaged in the acquisition and development of real estate projects in New York.

• US counsel to an Israel-based lender in connection with enforcement of rights and remedies on US collateral. 

• US counsel to an Israel-based financial institution in the workout of a distressed loan secured by a mortgage on a commercial office building in Chicago, Illinois.

• US counsel to an Israel-based financial institution in the workout of a distressed loan secured by a mortgage on a multifamily property in New York.

• US counsel to an Israel-based lender in connection with a defaulted mezzanine loan for the construction of a mixed-use development in New York.

• US counsel to a US borrower majority owned by several Israel-based financial institutions in the workout of a $40 million loan to a multifamily property in New York. 

Product Development and Regulatory Advice

Chapman represents Israel-based fintechs in the development of new financial products and provide advice regarding US federal and state consumer protection, lending, and licensing laws and related regulatory requirements. Representative matters include:

• US counsel to an Israel-based fintech in connection with an innovative new Residential Defeasance Program (RDP) product for US consumers.

• US counsel to an Israel-based fintech company in connection with the development of a non-mortgage product design to provide an alternative to a reverse mortgage for US consumers.

• US counsel to an Israel-based fintech in connection with the development of specialized financing products for the US entertainment industry.

Asset Securitization and Warehouse Lines

Chapman’s industry-leading asset securitization and structured finance practice focuses on helping clients finance a broad range of financial assets. Representative matters include:

• US counsel to an Israel-based lender in forward flow purchases and warehouse securitizations of automobile loans originated by a US-based fintech (five transactions). 

• US counsel to an Israel-based lender in two separate warehouse securitizations of loans originated by two US-based fintechs. 

• US counsel to an Israel-based private credit fund borrower in a lending facility from a US financial institution secured by fintech auto loans.

Related Practices

Notable Engagements