Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeTermination of a sale agreement leads to the expiry of an irrevocable power of attorney granted within the framework of the agreement
Commercial, Banking and Financial
Dispute Resolution
Real Estate
A purchaser of an apartment failed to duly make payments set in the agreement and the seller sought not only to terminate the agreement but also the irrevocable power of attorney given to the buyer’s attorney as part of the transaction. The Court held that the right to terminate an agreement due to its breach […]
Grants to Fund of International Pilots and Tenders
Taxation and Government Incentives and Funding
The Israeli Ministry of Economy is supporting Israeli companies in approaching international markets by assisting in financing pilots or tenders abroad. Who can apply to the fund? The fund is designed for Israeli companies that compete in tenders and pilots in the international arena according to the following indices: • The value of the project […]
Refraining from giving credit to the creator of a television show constitutes copyright infringement
Commercial, Banking and Financial
Dispute Resolution
Copyright, Trademarks Media and Artists
A claim was filed for infringement of copyright as to a successful television game for not giving the creator credit for his work and presenting others as the creators. The main defense was that this was not a protected “work” but only an “idea” which is not protected by the law. The Court accepted the […]
A receiver in bankruptcy and a liquidator do not have the right to access an e-mail box
Commercial, Banking and Financial
High-Tech and Technology
Business, Corporate and Joint Ventures
A receiver in bankruptcy moved the Court for access to the e-mail box of the bankrupt using the general investigative powers, where the law even specifically empowers diverting of all mail of the bankrupt to the receiver. The Supreme Court held that provisions of law applicable to mail do not apply to e-mail. Unlike a […]
Ordinarily company valuation will be by applying the DCF method but other methods may also be applied
Business, Corporate and Joint Ventures
Dispute Resolution
For the separation of shareholders, a valuation mechanism was agreed and thereafter one party will purchase the other’s shares. The experts appointed decided not to apply the Discounted Cash Flow (DCF) system because they set that in this case it will not duly reflect the valuation. One chose to apply the Runoff method and the […]
Staying in Israel without a permit constitutes a consideration against accepting a motion for status due to humanitarian reasons
Dispute Resolution
Labor Law and Immigration
A foreign citizen moved for status in Israel for humanitarian reasons. The Ministry of Interior rejected her motion. The Court rejected the motion and held that the foreign citizen stayed in Israel several times without a permit, had even been deported from Israel once and staying in Israel without a permit for years, by itself, […]
A humoristic commercial campaign is not defamation tort when it is clear that the public will not think that it presents facts
Commercial, Banking and Financial
Dispute Resolution
Privacy, GDPR, Confidentiality and protection of reputation
A company ran a commercial campaign in which it presented its competitors in a grotesque manner by way of a parody and extremism and was sued for that (The “Shuka” campaign of Direct Insurance presenting insurance agents in a ridiculous manner). The Supreme Court accepted the appeal of the company against the cease and desist […]
Cancelation of Tenders, When?
Public Law, Environment and Tenders
After the bids were opened the Tenders Committee decides to cancel the tender and publish a new and identical tender instead. Is that legal? In general, a tender may be canceled at almost any stage thereof up until execution of an agreement with the tender winner. Thus, a decision to cancel the tender may be […]
