Yoeli Landau The Satmar Billionaire that Tried to Convince the Gerer Rebbe Not to take Money from the Medina is going Bankrupt

 Chasidic billionaire Yoeli Landau is in trouble: 

A company he controls has gone into bankruptcy with debts of more than $1.6 billion, the company sought to grant Landau immunity from lawsuits, but the court ruled that this could not be approved – especially when Landau did not appear for the hearing.

Now, the lawyers are turning on him  and intend to sue him personally. 

It turns out that Landau tried to use the familiar trick: 

declare bankruptcy, get immunity from personal lawsuits, and then buy back the company's "assets" through another company under his control.

However, the court canceled the tender for the sale of the company's assets, after the judge ruled that there were irregularities in the tender and ordered a new tender to be held under government supervision.