Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeA receiver in bankruptcy of a shareholder is not entitled to receive information beyond information given to other shareholders
Business, Corporate and Joint Ventures
Dispute Resolution
מחוזי ת"א: ככל שמדובר במידע הצופה פני עתיד בנוגע לפעילות החברה – לנאמן אין כל עדיפות בקבלת המידע על כל בעל מניות אחר בחברה, להבדיל ממידע לגבי העבר שאותו זכאי הנאמן לקבל
Transfer of a company asset to a shareholder is deemed dividend distribution that require fulfilment of the terms for such
Business, Corporate and Joint Ventures
Dispute Resolution
A holding company sought to transfer the ownership in a subsidiary to its mother company. The Court held that a transfer of holdings to a shareholder is in fact a distribution of dividends in kind and thus the company need show profits distributable under law, unless the company can show existence of liquid assets that […]
Transfer of shares at a shareholder will not be deemed transfer of shares of the company absent a specific language setting so
Business, Corporate and Joint Ventures
Dispute Resolution
A corporation held shares in a company, which articles of association and shareholders agreement set a right of first refusal to the shareholders in case of sale of shares in the company. One of the two shareholders of the corporation sought to pledge its holdings in the corporation. A shareholder in the company contended that […]
In breach of a non-competition undertaking the injured party is entitled to compensation for its losses as well as for the profits of the breaching party
Commercial, Banking and Financial
Dispute Resolution
A developer of a diamond evaluation software entered into a marketing agreement with a seller of diamond measurement systems. The agreement stipulated that the marketer may not develop or sell competing software during the period of the agreement and 18 months thereafter. At some stage, the marketer informed the developer of termination of the agreement […]
All (shareholders in) Israel Are Responsible for One Another?
Business, Corporate and Joint Ventures
A basic principle of corporate law is that a company is generally of limited liability, meaning that the liability of the shareholders is limited to the amount that each undertook to invest in exchange for its shares and a shareholder may not be sued for debts of the company. However, sometimes negligent wording of a […]
A lessor is may not grant a right of use to a third party in a manner that contradicts Lessee’s rights
Dispute Resolution
Real Estate
Lessees of an events hall discovered, one day after the transfer of a deposit given as guarantee to secure the lease, that legal proceeding with the previous lessee, who refused to evacuate the premises, ended by an undertaking of the lessor to enable the previous lessee to hold eight additional events during the rental period […]
Payment to employee from profits of a company does not render the employee a partner
Dispute Resolution
Business, Corporate and Joint Ventures
Labor Law and Immigration
A diamond dealer engaged with a company dealing with the manufacture and sale of diamonds in an agreement under which the diamond dealer acted as a salesperson and was entitled to a percentage of sales. At some point the diamond dealer was terminated, but the company contended that he is not entitled to rights of […]
