Court appoints temporary receiver for OpenWeb

A Tel Aviv court has appointed a temporary receiver for OpenWeb after declaring the publisher engagement company insolvent, Globes reports. The development follows a creditor’s effort to enforce security over assets in connection with approximately $20 million in debt.

OpenWeb’s financial position matters to publishers using its audience engagement and advertising products. The court said the provisional orders would not automatically extend to subsidiary assets, which would require separate proceedings. The report does not establish that publisher services have stopped.

Read more at Globes