The court appointed Paz Rimer, of law firm Rimer, Arnon and Co, to put together a management team to run the company. It includes Press-sense chief executive Amir Shaked who has been in the role less than a month.
The court involvement followed investment lending group Plenus, which loaned Press-sense $5m (£3.3m) in 2008, filing a petition to the court.
The team, along with Plenus and Rimer, will run the business as a going concern while it consider Press-sense's options, however, it said that discussions had already taken place with a number of interested parties.
In the meantime, the business will also rationalise its headcount and expenses in line with its forecast revenues and costs.
Numerous companies sell OEM versions of Press-sense products, such as Xerox, HP and Océ. Press-sense said it will continue to support customers, channels and partners through the transition.
Calls to Rimer and Shaked were not answered at the time of writing.
Israeli court appoints team to manage troubled Press-sense
An Israeli court has appointed an adviser to manage business software company Press-sense as two of its major investors pull the plug on their support.
