Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeThe Law for Prevention of Youth Employment and Harm to Small Businesses
Labor Law and Immigration
The main legislative mistake in the Israeli Youth Employment Law, 1953, is the name of the law: the correct name should have been: the law for prevention of youth employment and harm to small businesses. I have two amazing sons who grew up without any shortage of money but both, as did I, were raised […]
Where the purpose of the existence of a corporation has not been proven personal debts may be imposed for of execution of transactions through a corporation
Business, Corporate and Joint Ventures
Dispute Resolution
A dispute arose due to non-payment of brokerage fees as agreed between a middleman and an entrepreneur. The entrepreneur contended that he is not personally liable because he was not a party to the agreement but a corporation under his control. In addition, the entrepreneur contended that the middleman is not entitled to payment because […]
An active manager of a corporation that could have prevented a tax offence may be personally liable to it
Taxation and Government Incentives and Funding
Business, Corporate and Joint Ventures
Dispute Resolution
A company and its manager were indicted for non-filing of tax returns. The manager contended that his wife is registered as a manager in the company and she is the one who signs tax returns. The Court found both company and manager guilty of the offence and held that in non-filing of tax returns offences […]
A bank may close an account upon suspicion of money laundering using the account
Commercial, Banking and Financial
Dispute Resolution
A bank froze an account of a client after suspicion that the client extends services of checks clearance and over-the-counter loans without a license and money laundering activities. The Court held that a bank may refuse to grant service only from reasonable reasons but may refuse service to a client upon suspicion of illegal activity […]
Publication at the AshdodCafe news site of article by Johana BenSoussan on Exit Tax
Taxation and Government Incentives and Funding
Labor Law and Immigration
Publication on June 13, 2017, in the AshdodCafe news website of an article by attorney Johanna Ben Soussan (a French lawyer working at the Afik & Co. law firm, dealing with taxes on immigration issues and commercial law)
Talniri: The Israeli ElSight company issued on the Australian stock exchange
International Transactions and Dispute Resolution
Mergers and Acquisitions
Article in the Talniri stock exchange bulletin as to the public offering of Elsight Ltd. in Australia. Doron Afik and Yaniv Friedhof of Afik & Co., Attorneys and Notaries together structured the transaction that was based on a model of reverse merger with an Australian company established for this purpose.
In apprehension of larceny of trade secret one may even receive an order to seize a private G-Mail account of an employee
Dispute Resolution
Labor Law and Immigration
Copyright, Trademarks Media and Artists
A dismissed employee sent to himself by email the database of the employer. The employer approached the Labor Court which appointed a receiver to seize the computer, cellular phone and personal G-Mail mailbox of the employee. The National Labor Court dismissed the motion to appeal and held that a receivership order is an exceptional order […]
Dissolution in kind of land held by tenants in common requires furnishing a drawing showing that it is possible
Dispute Resolution
Real Estate
A Court ordered on disassembly of a land held in common by sale by mutual bids. One of the co-owners in the land contended that this was a mistaken resolutoin and that it would be preferable to dismantle the co-ownership by division in kind. The Court held that the preferred way in dissolution of land […]
An arbitration clause will be valid even if the whole agreement is subject to a condition precedent that has not yet been met
Commercial, Banking and Financial
Dispute Resolution
Real Estate
An agreement between a contractor and a group of apartment owners regarding a TAMA 38 buildings refurbishing plan included an exclusive arbitration clause and a condition precedent under which the agreement enters into force only after the contractor receives building permits. The contractor did not receive building permits and the owners sought to cancel the […]
