Afik News 239 13.09.2017

Afik News 239 13.09.2017


Legislative Updates

August 22, 2017

Non-recording of a lien in the Companies Registrar will render it invalid vis-à-vis third parties

Two companies executed a partnership agreement for the joint acquisition and management of a commercial real estate property and each undertook in the partnership agreement not to transfer its rights to another without the consent of the partner. One of the companies had an investment by an investor to finance its share and pledged the common property to the investor. The lien was recorded at the ...

September 11, 2017

It is possible to assign a right of claim of a company in liquidation to some of its shareholders if it is for the benefit of the company

Minority shareholders of a company in liquidation sought to receive the right of claim of the company against the majority shareholders...

August 22, 2017

‎‎‎‎‎‎‎‎ A car trader need disclose to a purchaser also issues in the engine and any other material issue and not only physical damages

A person purchased a used car from a company that deals in used vehicles without first taking the car for inspection and later discovered that the engine was damaged. The purchaser sued both the company and its shareholders...

August 24, 2017

‎‎‎‎‎‎‎‎Any party may withdraw from an agreement reached in mediation until the agreement was approved by the Court

Parties to a real estate partnership liquidation claim conducted mediation proceedings before a mediator and reached a mediation agreement according to which the rights of one of the parties will be sold to the other party for a sum written in the agreement and the seller will transfer to the accountant appointed by the mediator comprehensive information so that the accountant can suggest ways to ...

September 3, 2017

‎‎‎‎‎‎‎‎Avoiding a middleman so as to circumvent a right of the middleman to fees creates a right to fees

A middleman brought together two companies to examine the possibility of a transaction for sale of assets of one of them. The transaction fell through but seven months later the purchaser approached the seller and offered to purchase some of the assts.  The negotiation was successful and an agreement was executed but without involvement of the middleman...

August 4, 2017

Even if a person did demand usage fees for his apartment the heirs may demand as of the date of demise

A claim was filed by heirs of the ownership rights of an apartment in respect of usage fees in the apartment for a period of 45 years...