On 3 Mar 2014, the Tel Aviv District Court (Judge Ornstein) issued a liquidation order upon the Biocord company, at the request of former employees of the company, in the framework of which the Official Receiver (Tel Aviv) was appointed as the company’s provisional liquidator.
From now, any action performed that is connected to the freezer containers in which the umbilical cord blood units are stored must be done with the approval of the court and of the liquidator (Official Receiver).
It is up to customers to initiate action vis-à-vis the Official Receiver and vis-à-vis the court that is hearing the liquidation proceedings.
 
The Ministry of Health has been informed by the customers’ representative that following several months of action, several days ago they received a concrete proposal from Kalia Biotech Ltd., which is prepared to accept the umbilical cord blood units and store them for a period of 20 years, provided that legal issues and a reasonable global payment are arranged.
Further details will later be conveyed to parents by representatives of the parents’ organization.
The Ministry of Health commends this progress. The solution offered to customers by "Kalia Biotech" is acceptable in principle to the Ministry.
 
The Ministry of Health again warns customers that parties who represent themselves as the "Cooperative Association of Customers" or as representatives of "Dam Taburi [Cord Blood] Ltd. (In Formation)" – do not officially exist, have not submitted any application to the Ministry of Health and have not received our authorization or the court’s authorization.
According to our information, these parties are directly or indirectly connected to Shmuel (Miki) Shacham.
 
Previous Press Release regarding "Biocord": 
  • The Ministry of Health has Rejected Biocord’s request for a permit to operate a blood bank
  • Umbilical blood banking – “Biocord” – the life bank