Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
Subscribe“Exit Tax” for French immigrants when moving to Israel
Taxation and Government Incentives and Funding
Labor Law and Immigration
European Law and Regulations
The Israeli legislation encourages Jews to relocate to Israel (or “make Aliya” as it is named in Israel). One of the tolls used is tax incentives. A person who receive a status of an “Oleh” or a returning resident is entitled to reductions points entitling for reduction of the Israeli income tax in the three […]
“Smart Money” Grant for Marketing Abroad
Taxation and Government Incentives and Funding
“Smart Money” – ILS 500K Grant for Marketing Abroad The Ministry of Economy assists with up to 500 thousand ILS (for the China, India and Japan markets up to 1 million ILS), financing marketing expenses and professional accompaniment to enter a new target market or increasing sales to an existing target market. Conditions for receiving […]
Passengers of a delayed flight are entitled to monetary compensation unless an unforeseeable force majeure
Commercial, Banking and Financial
Dispute Resolution
A flight was delayed by 17 hours and the passengers’ demand for compensation was rejected by the airline, claiming that it was a technical problem of a security nature and therefore due to such special circumstances they are not entitled to compensation by law. The Court held that under law a traveler will not be […]
Court may pierce the corporate vail and obligate sole shareholder and director in company’s liabilities where the company will not be able to pay its debts
Business, Corporate and Joint Ventures
Dispute Resolution
Labor Law and Immigration
Company employees were illegally dismissed and the Labor Court awarded them compensation. The National Labor Court also pierced the corporate veil between the company and a newly incorporated sister company that in effect tsook over the employees, customers and reputation and continued the company’s operations from the same factory, emptying the first company. The High […]
A trade-in company has increased liability and is required to make full due diligence disclosure in a form separate from the car sale agreement
Commercial, Banking and Financial
Dispute Resolution
A person purchased a car in a trade-in transaction from a company that deals in trade-in and based on a representation that the vehicle was in private hands in the past. In retrospect, it was discovered that the vehicle was previously owned by a company. The trade-in company argued, inter alia, that the car purchase […]
An agreement provision referring to legal change will apply only in case of change of law or case law of the Supreme Court
Dispute Resolution
Commercial, Banking and Financial
Competition
A petrol station and a petrol supplier executed a settlement agreement regarding issues of antitrust. The agreement set certain terms that will apply in case of a “legal change.” After the District Courts granted two verdicts that changed the caselaw as to the issues related to the agreement one of the parties demanded to apply […]
Non transfer of social deductions of employees is ground for piercing the corporate veil
Business, Corporate and Joint Ventures
Labor Law and Immigration
Dispute Resolution
An employee filed a claim for non-payment of various social rights to which she entitled to for the period of her employment and moved the Court to pierce the corporate veil and obligate the sole shareholder (who was also the sole director) for the company’s debts. The Court held that a company is a separate […]
Handing over possession of an apartment without a population form (Form 4) is not a due transfer of possession
Dispute Resolution
Real Estate
Purchasers of a new apartment from a contractor claimed that the possession of the apartment was not duly delivered to them, because a population form (form 4) was not duly given on the date stipulated in the contract and therefore demanded compensation. The Court held that even if physical possession of the apartment was given, […]
