Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeBlocking distribution of fake products in Israel
International Transactions and Dispute Resolution
Commercial, Banking and Financial
Dispute Resolution
The owner of an international brand suddenly discovers that products bearing the name of the brand are distributed in Israel but such are fake products that were not produced by it or under license. One may of course approach the authorities but such do not always conduct their duty in the required speed. The brand […]
An employer is not entitled to compensation for former employee’s competition without a legitimate interest worthy of protection
Dispute Resolution
Labor Law and Immigration
A company filed a lawsuit against two former employees alleging violation of a written non-compete undertaking and larceny of trade secrets. The National Labor Court held that a provision restricting occupation will not be automatically enforced and one must prove a “legitimate interest” justifying it, such as proprietary right or quasi-proprietary right in the confidential information, […]
A foreign bankruptcy verdict may be enforced in Israel
International Transactions and Dispute Resolution
Dispute Resolution
Business, Corporate and Joint Ventures
An Italian company undergone bankruptcy proceeding while proceedings in Israel were open. The Italian Court held that no proceedings may be opened against the company. The Italian company sought to cancel the liens imposed in the Israeli proceedings. The Israeli Court held that one may affect a foreign bankruptcy verdict in Israel as an ancillary issue […]
Marché ouvert does not exist if at the date on which it was possible to register the right there was doubt as to the identity of the rightful owners
Dispute Resolution
Real Estate
מחוזי מרכז: ספק שמתעורר ביחס לבעל הזכות החוקי במקרקעין בטרם רישום הזכויות במרשם המקרקעין מונע תחולת תקנת השוק.
Exercise of right of first refusal does not require a final and binding agreement with a third party and a purchase offer is sufficient
Dispute Resolution
Business, Corporate and Joint Ventures
Mergers and Acquisitions
A shareholder wished to sell his shares and notified the other shareholder so that he can exercise the right of first refusal mechanism set between then. The other shareholder argued that the share sale transaction is invalid because the right of first refusal mechanism was not duly exercise as a final agreement was not sent. […]
Loss of trust between holders of a closely held corporation is sufficient for an oppression claim even if not actual oppression happened
Business, Corporate and Joint Ventures
Dispute Resolution
A shareholder in a company, holding 45% thereof (the remainder held by a father and son) raised a list of oppression arguments. Inter alia he claimed that the control holder has other activities although one of them is the CEO of the company. The Court held that this is a closely held company, both because […]