RestructuringJul 29, 2026, 09:26 AM
REE Automotive Restructuring Proceedings Extended; CFO Departs
AI Summary
REE Automotive Ltd. announced that the District Court in Tel Aviv-Yafo approved the continuation of its Restructuring Proceedings, extending the stay of proceedings through August 16, 2026. The company will continue to operate under court supervision while advancing restructuring and financing arrangements. Additionally, Hai Aviv ceased his role as Chief Financial Officer on July 16, 2026, by mutual agreement, with the company stating his departure was not due to any disagreement.
Key Highlights
- Court approved continuation of Restructuring Proceedings for REE Automotive.
- Stay of proceedings extended through August 16, 2026.
- Company to operate under supervision of Court-appointed Arrangement Manager.
- Creditors may submit proofs of claim by August 12, 2026.
- Hai Aviv ceased to serve as CFO on July 16, 2026, by mutual agreement.
Price Impact
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