Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeEven a director appointed by a shareholder acts independently for the benefit of the company and not for the appointing shareholder
Business, Corporate and Joint Ventures
Domestic Relations
Dispute Resolution
As part of a family dispute, a shareholder has demanded the company to disclose information to the director appointed on his behalf. The Court rejected the motion and held that only the director may require the information and not the shareholder. Further, such request should be submitted to the Corporate Court and not as part […]
A real estate gift within the family that was not recorded but made in good faith will trump over a later imposed lien
A owner of an apartment entered bankruptcy proceedings and a lien was imposed on the apartment, but the brother of the owner contended to have received the apartment as a gift over ten years before such date. The Court held that although no cautionary note was recorded in favor of the recipient of the gift, […]
Details of potential costumers (leads) are a trade secret
Commercial, Banking and Financial
Dispute Resolution
Copyright, Trademarks Media and Artists
A website that provides advertising services for businesses and sells sale leads terminated its engagement with a business but retained data on the business on the website and conveyed detailed of people who showed interest in purchasing products competitors of the business. The Court held that this is misappropriation of trade secrets. Names of potential […]
A dispute will be heard in Israel even if Australian law prohibits this in an Australian franchise agreement
International Transactions and Dispute Resolution
Dispute Resolution
An Australian company, whose managers are Israeli entered a franchise agreement with a European food manufacturer to distribute its products in Australia. The agreement states that the law applicable to the agreement is Israeli law and that any dispute between the parties will be settled in arbitration in Israel. When the European company sought to […]
A tender bidder may not rely on experience of affiliates unless the tender specifically so allows
Public Law, Environment and Tenders
Business, Corporate and Joint Ventures
Dispute Resolution
A tender participant has won the tender by relying on the experience of affiliated companies and only after it was declared winner did it amend its bid to add personal experience. The Court held that a bid relying on experience of affiliates, when the tender terms do not specifically allow this, is materially flawed and […]
On Uluru and international agreements Down-Under
International Transactions and Dispute Resolution
A person about to undergo open heart surgery decides, so as to save money, to perform the surgery himself while facing a mirror. Sounds reasonable? Obviously not… So why when it comes to entering into international agreements would one purportedly “save” money by not seeking relevant jurisdictional legal advice and work with an appropriately qualified […]
A shareholder who chooses not to supervise the management of the company by another shareholder can not contend oppression of minority
Business, Corporate and Joint Ventures
Dispute Resolution
A company purchased a commercial building located in Tirat Carmel to renovate and lease its parts to various business owners. The company reached a financial distressed and it turned out that funds from the company were drawn to another company owned by one of the shareholders as well as his family members and the same […]
