Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeA shareholder who did not receive any company’s assets and did not act with intent to deceive will not be held accountable for company’s city tax debt
Dispute Resolution
Public Law, Environment and Tenders
Business, Corporate and Joint Ventures
A municipality filed a lawsuit against a shareholder of a company claiming that the shareholder is to be personally liable for the city tax debts of the company. The Court held that a company’s property tax debt may be attributed to a shareholder by piercing the corporate veil under the Companies Act or under the […]
An employment agreement of the control holder of a company that was not duly approved by the company will not be upheld
Business, Corporate and Joint Ventures
Labor Law and Immigration
Dispute Resolution
A CEO and director of a company, that upon its establishment and until the entrance of an investor was the majority shareholder, filed a claim after his dismissal for increased severance pay and leave notice pursuant to his employment agreement that included extreme liquidated damages provisions. The Court held that under the circumstances the relevant […]
A gift recipient’s right will prevail a later foreclosure, if it has been proven that the gift was given in good faith A gift recipient’s right will prevail a later foreclosure if the gift was given in good faith
Dispute Resolution
Real Estate
A father granted his children land assets as a gift but the children did not record the transfer or even a cautionary note on such gift. Several years later a foreclosures was imposed on the property. The gift recipients filed a motion to Court arguing that the foreclosures are to be canceled and that their […]
Non-transfer of employee’s pension provisions constitute grounds for lifting the corporate veil
Dispute Resolution
Labor Law and Immigration
Business, Corporate and Joint Ventures
A service provider that was proven to be an employee filed a personal claim against the company’s shareholder for payment of employee’s rights. The Court held that employees have a special status for the purpose of examining the justification for piercing the corporate veil and the ability to pierce the veil was extended to cases […]
Sophisticated Wealth Management through Structured Products
Commercial, Banking and Financial
investment alternatives In low interest rate environment bank deposits provide low yield. Capital markets and alternative investments such as commodities and currencies are volatile and risky. The Holy Grail for investors would be a product that offers a combination of low risk investment along with high yield potential. Usage of structured products provides an investment […]
The Ageing VBER – The Deceiving Simplicity of A Schema
International Transactions and Dispute Resolution
Competition
European Law and Regulations
The ageing VBER – the deceiving simplicity of a schema The EU Block Exemption Regulation 330/2010 on Vertical Agreements (“VBER”) is still valid until 31 May 2022. However, when applying the VBER to vertical agreements in practice, experience shows that the VBER, in (seemingly) more and more cases, proves to be too schematic and therefore […]
Forbes, Israel: Moderation by Doron Afik, Esq. of the Top Forum international conference
International Transactions and Dispute Resolution
Taxation and Government Incentives and Funding
On October 27, 2016, attorney Doron Afik, managing partner of Afik & Co., moderated the second day of the TOP FORUM international structures and international taxation conference with close to 300 participants
Attached is an article (in Hebrew) on the conference by journalist Michal Hayut of the Forbes Israel magazine.
Franchise agreements and their termination
Commercial, Banking and Financial
Many chains choose, instead of opening more and more branches, to enter a franchise agreement with a third-party. This manner of growth has advantages and disadvantages, but one of the main issues that often come up is the chain’s ability to “terminate” the franchisor and replace it with another or even to make the branch […]
Parties that present themselves as partners and behave so will be deemed partners
Business, Corporate and Joint Ventures
Dispute Resolution
Labor Law and Immigration
An immigrant from Eritrea wanted to start a business of a drinks bar in Jerusalem, but due to the lack of legal status in Israel cooperated with an Israeli who was registered as the leasee of the property and the parties ran the business together for about 4 years. Later the Israeli claimed that the […]
Unclarity in an adhesive contract between a large service provider and a customer will lead to interpretation against the services provider
Dispute Resolution
Commercial, Banking and Financial
A customer signed an equipment lease and services agreement with a big communication company. Upon theft of the equipment the company sought to charge the client for it. The Court held that while the agreement may be construed in several manners and is unclear as to who bears the liability in such a case. However, […]
