Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeA verdict fulfilment of which means change of control over a company will be stayed during an appeal
Business, Corporate and Joint Ventures
Dispute Resolution
A verdict ordered shares to be issued so that after the issuance the recipient of the shares will become the control holder. The Supreme Court ordered stay of proceeding during the appeal and repeated the caselaw that filing an appeal does not hold the fulfilment of the verdict unless shown that the chances of the […]
No personal compensation shall be granted to a shareholder for breach of fiduciary duties unless the shareholder can prove independent damage
Business, Corporate and Joint Ventures
Dispute Resolution
A company and a shareholder filed a claim against the other shareholder whom, after ceasing to work as a manager in the company and commenced working at a competitor arguing, inter alia, that the shareholder exploited the reputation of the company to promote the activity of the competitor. The Court held that fiduciary duties were […]
Purchaser of company’s activity will bear past social benefits payments even if otherwise agreed in the acquisition agreement
Dispute Resolution
Labor Law and Immigration
Mergers and Acquisitions
In a transaction in which all assets of an active company were purchased, all employees were terminated and received severance pay. A pregnant employee, at the beginning of her pregnancy, was rehired by the purchaser but terminated after two weeks. The employee contended that she is entitled from the selling company and the purchaser to […]
Contractor may foreclose ‘registration fees’ upon termination of negotiation in bad faith
Dispute Resolution
Real Estate
Commercial, Banking and Financial
A contracting company refused to refund registration fees paid to it upon the execution of an application form for the purchase of an apartment in a residential project contending that the purchasers terminated the negotiations in bad faith and under the application form it may foreclose the registration fee as liquidated damages if the purchaser […]
Agreement because of business considerations to payment lower than agreed due to pressure of the other side is not economic coercion
Commercial, Banking and Financial
Dispute Resolution
International Transactions and Dispute Resolution
An Israeli company was in contact with an American company that deals with venture lending, in which in addition to interest and commissions, options in the borrowing company are also received, so that the Israeli company will link customers to the American in exchange for participation in revenues. In the first deal, the Israeli agreed […]
Absence of a signature will prevent enforceability of contract if the language thereof leads to the interpretation that it will become binding only upon signature
Commercial, Banking and Financial
Real Estate
Dispute Resolution
A person brought a big evacuate and build project to a company dealing with real estate entrepreneurship. After an agreed draft was reached the company signed it but the person replied that he will sign only upon return from holiday. After a few days he notified that he withdraws from the agreements. The Court held […]
Liability of purchaser of Company assets for past liabilities
International Transactions and Dispute Resolution
Taxation and Government Incentives and Funding
Commercial, Banking and Financial
Many erroneously believe that it is preferable to purchase a company’s activity in a transaction for company acquisition and not the corporate vehicle itself, thereby avoiding the risk of assuming company debts. Because of this, many believe that it is possible to avoid transaction costs by a simple acquisition agreement without need for a comprehensive […]
Tip Top Tel Aviv – Purchasing Real Estate in Israel by a Foreign Resident or a New Immigrant
Real Estate
International Transactions and Dispute Resolution
Attached is an article published in French on July 2017, by the Tip Top Tel Aviv magazine written by Attorneys Yair Aloni, Adv. (an attorney at Afik & Co. emphasizing on commercial and civil law, including real estate, legal advice to purchaser and sellers and negotiations of purchase and sale transactions) and Johanna Ben Soussan (a French lawyer who works at Afik & Co., whose main practice areas are tax, immigration and commercial law).
