Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeIn the absence of exceptional circumstances an agreement at Court to separate in a company is not one that can be withdrawn from
Business, Corporate and Joint Ventures
Domestic Relations
Dispute Resolution
In a family held company owned by four brothers one claimed oppression of the minority and the parties agreed to a separation by way of the purchase of that brother’s shares by his siblings in equal parts, according to a valuation to be determined by a court-appointed expert. Following the agreement, the brother unilaterally announced […]
A director in a closely held company owes a fiduciary duty to the shareholders
Business, Corporate and Joint Ventures
Dispute Resolution
As part of a dispute between siblings who are shareholders and directors in a family-owned company, the sister (in her capacity as a director) proactively contacted the real estate taxation director and provided inflated, unsubstantiated valuations of the company’s assets. This action was taken to increase the tax liabilities of her brother regarding a share […]
Pulling corporations with external shareholders into family legal proceedings necessitates caution to prevent business harm to third parties
Business, Corporate and Joint Ventures
Criminal Law
Domestic Relations
A divorce dispute led to a motion to include real estate corporations managed by the husband as direct parties to the proceedings, within the framework of the joint property, with the intent of preventing the dissipation of assets. The Court partially granted the motion for the joinder of the corporations. The Israeli Family Court Law […]
Penalizing customers for reducing their purchase volume constitutes a prohibited harm to competition when applied by a monopoly
Competition
Dispute Resolution
The Central Company for Beverage Distribution Ltd., which is a monopoly in its field, included in its agreements with its customers an option to cancel the agreement in the event of a reduction in the customer’s purchases and the Director General of the Competition Authority imposed a fine thereupon. The Supreme Court held that the […]
Did You Sign? Did You Understand? On the Duty of Disclosure in Loans and Mortgages
Real estate in Israel and around the world
Commercial, Banking and Financial
Imagine the following situation: your spouse’s business needs a financial boost, and they ask you to join as a borrower or guarantor for a non-bank loan. While they promise that everything is under control – leading you to arrive at a lawyer’s office, sign a stack of documents within minutes, and go on your way […]
Conscious exploitation of a software vulnerability to generate profit constitutes unlawful computer hacking and disruption of computer material
High-Tech and Technology
Criminal Law
Dispute Resolution
The USA requested the extradition of an Israeli citizen indicted for fraud and money laundering for aledgedly exploiting a security flaw in the “smart contracts” of a blockchain system to issue digital currencies without backing. The Supreme Court held that the requested individual is extraditable. One of the fundamental principles in extradition proceedings is the […]
In the sale of parallel-imported vehicles, the use of the term ‘parallel importer’ in advertising is insufficient and the legal status must be clarified to the customer
Copyright, Trademarks Media and Artists
Dispute Resolution
A company presenting itself in its publications as “Toyota Rehovot – Parallel Importer,” which engages in the marketing of original Toyota vehicles and spare parts imported to Israel via parallel import, was required by Toyota to cease the use of such term, which is using the Toyota’s trademarks. The Court accepted Toyota’s contentions due to […]
