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Elbit Imaging Announces the Court Decision with Respect to Filing of Plan of Arrangement with the Israeli Court
Date:5/22/2013

TEL AVIV, Israel, May 22, 2013 /PRNewswire/ --

Elbit Imaging Ltd. ("EI" or the "Company") (TASE, NASDAQ: EMITF) announced today, further to the Company's announcement dated May 9, 2013 that it had filed a motion with the Tel Aviv District Court (the "Court") to convene meetings of its unsecured creditors and shareholders for the approval of the proposed restructuring of the Company's unsecured financial debt pursuant to a plan of arrangement (the "Arrangement") under Section 350 of the Israeli Companies Law, 5759-1999 ("Section 350"), that the Court decided, after taking into account the positions of the Company, the representatives of various series of the Company's noteholders and other interested parties and the provisions of Section 350, not to convene the meetings until the Court receives the written opinion of Roni Alroy , CPA, the Court-appointed expert (the "Expert"), as to the Arrangement. The Court also ordered that the Expert should endeavor to provide his opinion, if possible, by June 6, 2013. In addition, the Court ordered that any party that wishes to oppose the Arrangement should file its position as to the Arrangement by May 31, 2013, and that the Company and all other parties to the Arrangement should file their responses thereto by June 16, 2013.  

About Elbit Imaging Ltd.

Elbit Imaging Ltd. operates in the following principal fields of business: (i) Commercial and Entertainment Centers - Initiation, construction and sale of shopping and entertainment centers and other mixed-use real property projects, predominantly in the retail sector, located in Central and Eastern Europe and in India, primarily through its subsidiary Plaza Centers N.V. In certain circumstances and depending on market conditions, the Company operate and manage commercial and entertainment centers prior to their
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