You need to enlighten yourself before saying that a ruling in an Israeli court cannot have an impact on US proceedings. In a large majority of cases, (up to 95%) the US court accepts the Israeli bankruptcy court ruling and that will be the case here. Just how stupid do you think the lawyers and advisors are? What do you think has been going on all this time? Delay tactics? Fantasy Island...... The company has been working tirelessly to get things moving...trying to appease DGF....to no avail..... I spoke about a plan "B" months ago..... THis is plan B.... Reorg.....approved by the Israeli court...which will be accepted by the US court and authorities.. New company...new money.....manufacturing...sales...revenue....beginning in Q1 2021...if all goes according to plan......and it should.
And yes..a foreign bankruptcy courts' ruling can be accepted in the USA and applied to an American company.... Authorizing an increase in shares.....so the company can continue and move forward with its reorg plan... THis is pretty cut and dry. OWC(US entity) is domiciled in Delaware..it is clean....no creditors..and ready to move on.
IN over 95% of cases....a bankruptcy proceeding/ruling/acceptance of terms in an Israeli court can and is accepted verbatim on the US side.
Here's 1 perspective..enlighten yourself...seek to understand first ...
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