Israel Practice

Legally Israel 100 ranks Chapman among the Top 10 Israel Practices in the Capital Markets and Real Estate sectors. 

Chapman’s focus on finance, combined with our substantial experience representing Israeli clients, makes us uniquely situated to advise Israeli financial institutions, investment funds, and Israeli law firms seeking US-based counsel in finance-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
• mergers and acquisitions
• asset securitization
• investments in private funds
• fintech and marketplace lending

Capital Markets Transactions

Chapman represents trustees in connection with debt private placements and the issuance of new publicly traded debt securities. Representative matters include:

• US counsel to Reznik Paz Nevo Trusts Ltd. in connection with the issuance by Israel Discount Bank of US$800 million of senior notes, the bank’s first dollar-based international bond issue, which expanded funding sources among foreign institutional investors.

• US counsel to Reznik Paz Nevo Trusts Ltd. in connection with the issuance by Bank Leumi of US$500 million of tier 2 contingent convertible (CoCo) green notes, 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 Reznik Paz Nevo Trusts Ltd. in connection with the issuance by Bank Leumi of US$700 million of contingent convertible (CoCo) notes, the first international issuance of CoCo notes by an Israeli bank.

• US counsel to Mishmeret Trust Company Ltd. in connection with the issuance by GFI Real Estate Ltd. of approximately US$57 million of Tel Aviv Stock Exchange traded bonds secured by The Beekman hotel in New York City.

• US counsel to Reznik Paz Nevo Trusts Ltd. in connection with the issuance by Mizrahi-Tefahot Bank of US$600 million of contingent convertible (CoCo) notes, the second international issuance of CoCo notes by an Israeli bank.

• US counsel to Reznik Paz Nevo Trusts Ltd. in connection with the issuance by Bank Hapoalim of US$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 published by the International Capital Market Association. 

• US counsel to Reznik Paz Nevo Trusts Ltd. in connection with the issuance by Bank Leumi of US$500 million of international senior unsecured notes—the first offering of international senior unsecured notes by an Israeli bank.

• US counsel to to Mishmeret Trust Company Ltd. in connection with the issuance by Sapir Corp. of approximately US$89 million of Tel Aviv Stock Exchange traded bonds secured by the NoMo Soho boutique hotel in New York City.

Loans and Investments

Chapman represents Israeli funds and investors in connection with US company investments and advises US funds and investors in connection with Israeli company investments. Representative matters include:

• US counsel to an Israel-based equity investor in joint venture to acquire multifamily properties in Texas.

• US counsel to an Israel-based lender in connection with a $27 million construction loan for a residential project in Long Island City, New York.

• US counsel to an Israel-based lender in a US$75 million loan to finance the construction of a new luxury condominium development in Florida.

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

• US counsel to an Israel-based lender in a US$53 million loan for the construction of a New York condominium building.

• US counsel to an Israel-based lender in a US$37 million loan to a luxury New York condominium building.

• US counsel to the lender in a US$36 million loan for the construction of a mixed-use building in New Jersey.

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

• US counsel to an Israel-based equity investor in joint venture to acquire single family homes.

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

• US counsel to an Israel-based fund in connection with a mezzanine loan and equity investment to finance a Manhattan condominium construction project in New York.

• US counsel to an Israel-based lender in connection with a loan to finance conversion of Connecticut hotel into condominium building.

• US counsel to an Israeli financial institution in connection with the purchase of US marketplace loans.

• Counsel to the purchaser in the acquisition of a minority equity interest in US owner/operator of gas stations and convenience stores located across the east coast of the United States from an insolvent Israeli public company pursuant to a court-supervised process.

Restructuring Matters

Chapman has advised and is currently advising trustees and bondholders in several high-profile default matters involving Tel Aviv Stock Exchange (TASE) traded bonds. Representative matters include:

• US counsel to Mishmeret Trust Company Ltd. in connection with the restructuring of more than US$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, including:

  • US counsel to Mishmeret Trust Company Ltd. in connection with the restructuring of US$250 million of bonds issued by All Year Holdings Ltd. and secured by one of two residential apartment buildings that comprise The Denizen, a 911-unit complex located on the site of the former Rheingold Brewery in Brooklyn, New York; The Denizen was sold for US$506 million, reported as the largest single asset multifamily transaction in the US since 2018, in a bankruptcy court approved sale.

  • US counsel to Mishmeret Trust Company Ltd. and certain bondholders in an involuntary bankruptcy petition in connection with the restructuring of US$750 million of bonds issued by All Year Holdings Ltd. and secured by the William Vale Hotel in Brooklyn. 

• US counsel to the indenture trustee in connection with the restructuring of Tel Aviv Stock Exchange bonds issued by Medley Capital, a US Business Development Company.

• US counsel to the court appointed trustees in a restructuring of US$254 million of bonds issued by Starwood West Ltd., a British Virgin Islands company whose subsidiaries own and operate seven shopping malls located in the United States.

• US counsel to the indenture trustee in connection with the default by Brookland Upreal Limited, a British Virgin Islands issuer of Tel Aviv Stock Exchange traded bonds, whose US subsidiaries were engaged in the acquisition and development of real estate projects located 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.

• Representing New York condominium owner in workout of a $40 million loan.

Product Development and Regulatory Advice

We represent clients in the development of new financial products and provide advice regarding federal and state consumer protection, lending, and licensing laws and related regulatory requirements. Representative matters include:

• US counsel to an Israel-based fintech company in the development of a new US consumer finance product.

• US counsel to an Israel-based fintech in connection with a new residential mortgage 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.

Related Practices

Notable Engagements