Editing Bankruptcy (section)

===Israel===
Bankruptcy in Israel is governed by the Insolvency and Rehabilitation Law, 2018. Insolvency proceedings below ₪150,000 will be administered entirely by the Enforcement and Collection Authority. Insolvency proceedings above ₪150,000 individual debtors file the documents  will be conducted before the official receiver (the Insolvency Commissioner) and, if a creditor want to file against a debtor, he needs to open process, before the magistrate's court that hears in the district. Company bankruptcy will be conducted before District Court. Simultaneously, with the issue of the order for the commencement of insolvency proceedings, the Insolvency Commissioner shall appoint a trustee for the debtor and an audit will be carried out, in which the debtor's economic capability and his conduct will be examined (lasting approximately 12 months). At the end of this audit a payment plan is established, at the end of which the debtor will receive a discharge. The default scenario is a payment period of three years; however, the court reserves the right to increase or decrease the period depending upon the circumstances of the case. If the debtor has no proven financial ability to pay the creditors, he may be granted an immediate discharge.<ref>{{cite web |last1=Zinger |first1=Seffy |title=Restructuring Israel's insolvency law |url=https://www.iflr1000.com/NewsAndAnalysis/Restructuring-Israels-insolvency-law/Index/8795 |website=IFLR1000 |access-date=1 May 2020}}</ref> Since 1996, Israeli personal bankruptcy law has shifted to a relatively debtor-friendly regime, not unlike the American model.<ref>{{cite web|last=Efrat|first=Rafael|title=The transformation of the Israeli bankruptcy system as a reflection of societal changes|url=http://www.law.fsu.edu/journals/transnational/vol101/Efrat.pdf|publisher=[[Florida State University]]|access-date=19 April 2014|archive-url=https://web.archive.org/web/20060915215559/http://www.law.fsu.edu/journals/transnational/vol101/Efrat.pdf|archive-date=15 September 2006}}</ref>