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Tel Aviv Court Freezes InfiBond’s Assets After the AI Startup Failed to Pay Salaries

Tel Aviv Court Freezes InfiBond’s Assets After the AI Startup Failed to Pay Salaries

In a petition to the court, the employees claimed they have not been paid since January and that they fear no solution is near as the Covid-19 pandemic effectively paralyzed the global economy

Lital Dobrovitsky | 17:51  19.03.2020

The Tel Aviv district court froze the assets of Tel Aviv-based artificial intelligence startup InfiBond Ltd., following a petition by employees claiming they have not been paid since January. In its ruling Thursday, the court instructed InfiBond to respond to the petition, requesting a temporary trustee be appointed to manage the company’s assets by Sunday, March 22.

In their petition, the employees, represented by attorney Liza Hadash, claim they have waited long enough for a solution that now seems further than ever, as the coronavirus (Covid-19) pandemic has effectively paralyzed the global economy. The employees said that while they do not get paid, they have also not been laid off or put on unpaid leave, meaning they cannot register for unemployment.

Infibond. Photo: Kfir Ziv Infibond. Photo: Kfir Ziv Infibond. Photo: Kfir Ziv

On Monday, Calcalist reported that in early February, InfiBond founder and CEO Yoram Kraus told employees that, due to liquidity issues, their January salaries will not be paid on time.
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