Israel’s Supreme Court Rejects Sculptor Ariel Pelzig’s Appeal Over Debt to Meitav Mimun

Pelzig’s eviction follows severe financial difficulties that began during the coronavirus pandemic. The sculptor initially borrowed 14 million NIS, but his debt to Meitav Mimun eventually grew to 24 million NIS. As collateral for the loan, the 80-year-old artist pledged his entire Jerusalem complex, which includes commercial and residential sections, including his historic home known as David’s Harp.

Pelzig challenged the seizure of the entire property in court. He argued that the complex was worth 42 million NIS and sought to sell only the commercial section to settle his outstanding obligations and obtain additional financing.

Judge Gila Kanfi-Steinitz ruled that the value of the commercial property alone would not be enough to cover the accumulated debt. The court allowed the creditor to proceed with the sale of the entire mortgaged complex. The ruling also requires the creditor to provide the artist with alternative housing.

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