Hard blow: Religious tycoon Moti Zisser will lose his home to Bank Leumi. Tel Aviv District Court Judge Eitan Orenstein ruled yesterday. At this stage, Leumi will only be able to sell the part where Zisser himself lives.
According to the website The Marker, The judge officially authorized the bank to take over the luxurious estate of Moti and Baraka Zisser in Kfar Ganim in Petah Tikva. The value of the property is approximately fifty million NIS, while Zisser's total debt to Leumi is approximately 17 million NIS, which Zisser took out as a mortgage to purchase the house.
Zisser's two children, who also live in the estate, went to court several months ago, seeking to purchase the debt from Leumi. However, due to the objection of Bank Hapoalim, which claims that registering the units in the children's names is a fictitious procedure, and also due to the need to confirm that Zisser's children will meet the mortgage payments, the judge decided to wait with the foreclosure on the children's plots, since the value of Zisser's own share is supposed to cover his entire debt to Leumi. The children's plots were valued by Leumi at 12 million shekels. Bank Hapoalim is about to write off Zisser's debt of about a billion shekels.
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Zisser's house is actually a mansion. The estate covers about six dunams and the built-up area covers 3,000 square meters. The complex has tight security. The estate has a mikveh, a synagogue, a large pool, a bowling alley, and a private cinema.
