Afik News 220 21.12.2016

Afik News 220 21.12.2016


Legislative Updates

November 15, 2016

Forced acquisition is a viable remedy upon showing of oppression due to loss of faith among ‎shareholders ‎

An owner of a third of the shares of a company filed a claim on the grounds of oppression due to loss of confidence between shareholders, inter alia with respect to ceasing to repay a loan that he took for the company, ending his tenure as chairman of the board of directors and professional manager and refusal to allow him to sell his shares to another company...

November 28, 2016

A company that is sued and files a counter-claim will be required to deposit security for costs unless it can show financial robustness and liquidity

A group of defendants filed a counterclaim against the claimant.  The claimant demanded that they deposit a security for her costs...

December 11, 2016

A company may act for the benefit of the group of companies in which it is a member in addition to the benefit of the company but not instead of it

A Court appointed officer sought to cancel a transaction of a company in which it gave securities to debts of another company in the group of which it was a member, arguing that it was not for the benefit of the company but to the benefit of another company in the group and because it was not approved as an “irregular transaction...

October 25, 2016

Not any contribution to an architectural work will be copyright protected

An architect filed a lawsuit for copyright infringement for using her designs for a memorial without her permission and without giving her credit for her contribution to the project...

November 29, 2016

An employee who after termination contracts suppliers and clients with whom the employee worked may be breaching the duty of loyalty and be required to pay the employer damages

An employee terminated her employment with a company, opened a competing business and contracted suppliers and clients of the company...

November 21, 2016

A Contractor ignoring notices from assets owners to fix deficiencies may loose its right to fix them by itself

Apartment’s owners filed a lawsuit against the contractor for compensation for the many deficiencies discovered in the assets. Despite numerous letters and messages served by the tenants on the contractor the contractor ignored them and did not fix the deficiencies. The contractor argued that it wishes to fix the deficiencies by itself, and because that the property has been sold it is no longer ...