OWC Pharmaceutical Research Corp (OWCP)

[BruceLake]

Thanks for your question but you should hold your horses before making a statement and reaching a conclusion.

Let me explain. As you now know or should know, Ziv Turner was also dismissed as the CEO of OWC Israel. Please refer to the following in the letter written by Melinda Spitzer:

In early 2020, the OWCP management team that was in place at the time of the Court’s April 29, 2020 Order Granting Preliminary Injunction (“Order”) was removed at Discover’s behest. On February 26, 2021, David Kugelman was appointed as sole director by Discover.

Notwithstanding the typo "In early 2020" which should be "In early 2021", it is clear that as of February 26, 2021 Ziv Turner was no longer CEO of OWC Israel, and to your point he certainly would not have been in a position to file for bankruptcy on behalf of OWC Israel.

For at least 2-3 months prior to February 26, Ziv Turner put in a valiant effort in trying to save the company by negotiating with Kirkland. At the risk of stating the obvious, those negotiations hit a brick wall. Unfortunately it became quite obvious that filing an application to begin insolvency proceedings was the only viable option remaining. Either as a way of sending a message to Kirkland with the hope that he would stop acting like a stubborn mule and/or as the only way of protecting the creditors, with Ziv Turner being one of them.

Now to your question regarding legal authority. Obviously if the application was filed on behalf of OWC Israel as a debtor before February 26, Ziv Turner did indeed have the legal authority to file the application. Further, as per your link to the law firm that handles insolvency proceedings in Israel, please refer to the following quote:

WHO CAN SUBMIT A REQUEST TO BEGIN INSOLVENCY PROCEEDINGS?
An application to begin insolvency proceedings can be submitted by the creditors who want to prevent the debtor from smuggling assets and accomplish the repayment of the debts, or by the debtor himself, who is not capable of paying the debts, thus requesting to begin the insolvency proceeding before further developments.

So, to my suggestion about holding your horses, it's quite clear that even after February 26, 2021 Ziv Turner was well within his legal rights to file an application to begin insolvency proceedings on his own behalf and others as creditors.