One day after the Tel Aviv District Court declared social engagement platform OpenWeb insolvent, it has appointed a temporary receiver after Liquidity Group’s Mars Growth Capital requested a lien on assets due to a $20 million debt. Liquidity claims that for months, OpenWeb failed to meet its projected figures, a sales deal relied upon for debt repayment underwent a material change, and information on the termination of the Microsoft partnership was not disclosed in real time.
Judge Hagai Brenner wrote: "Given the company's insolvency and the circumstances described in the motion, there are grounds to appoint a temporary receiver for the company." While the court granted the provisional orders requested by OpenWeb, it ruled that they would not currently apply to the assets of its subsidiaries, as separate proceedings would be required for each of them. The Commissioner of Insolvency Proceedings is required to propose candidates for the position of temporary trustee within three days.
Mars is now seeking to enforce a lien registered in its favor over OpenWeb’s assets in Israe including funds and rights in bank accounts, receivables due to the company from its customers, and its intellectual property rights. Concurrently, it seeks the appointment of Adv. Erez Haver of Amit, Pollak, Matalon (APM) law firm as receiver, authorized to seize, manage, and realize the encumbered assets, subject to court approval. According to Mars, as of September 30, OpenWeb’s debt to the company stood at $20.01 million and continues to accrue interest and additional charges.
OpenWeb raised funds in 2022 at a company valuation of $1.3 billion, which was cut to $500 million when it raised funds in 2025.
Published by Globes, Israel business news - en.globes.co.il - on October 1, 2026.
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