August 26, 2026
A fast-cash funder has sued the now-bankrupt brothers who ran their summer camp empire into the dirt for guaranteeing nearly $6.4 million of loans earlier this year, alleging they were already insolvent and had no intent to repay the funds.
August 18, 2026
Michael Shabsels, one of the brothers who were in charge of a summer camp and real estate empire before it crashed in June, has two weeks to file financial information in his own Chapter 11 case or else face conversion to a Chapter 7 liquidation.
July 29, 2026
A federal grand jury is investigating the bankrupt summer camp operator SIMAD Holdings, its controlling shareholders and related entities, and the company has received a demand to produce documents as part of the probe, according to a notice filed with the Tel Aviv Stock Exchange.
July 27, 2026
David Shabsels, who listed $782 million of liabilities in his personal Chapter 11 bankruptcy case, said Monday he often signed loan documents that were given to him by his brother, against whom he may have future claims related to the downfall of the summer camp empire they previously controlled.
June 23, 2026
A quintet of partners from Cole Schotz PC is stewarding the Chapter 11 case of summer camp operator and real estate holding company.
June 18, 2026
Of the many mysteries still surrounding the tangled case of bankrupt summer camp operator SIMAD Holdings Ltd., one of the biggest, at least to those interested in business financing, is why such a large company would turn so sharply toward merchant cash advances — a method of last-ditch funding normally used by desperate small businesses.