Afik News 244 22.11.2017

Three partners set up a company to provide tourism services to business corporations. The parties executed an agreement whereby half of the company’s shares will be held via a corporation held by the two partners, while the third partner will hold the remainder of the shares. One of the partners filed a claim to remove […]

Entities that are concerned Civil or commercial companies, EIG, branches of foreign companies and more generally all entities that are registered in the Register of Commerce and Companies (RCS) must now report to the RCS information concerning their beneficial owner(s). Exception: companies whose securities are admitted to trading on a regulated market. The Registry of […]

A landowner signed a combination deal with a contractor, according to which the contractor had to commence building the project within 5 years. Ten years later, the contractor refused to delete a cautionary note that had been recorded in his favor, and offered to pay instead of canceling the agreement the compensation stipulated in the […]

A company that provides computer support services provided services to Coca Cola. An employee of the company set up a competing business while working and left the company taking Coca-Cola as a customer. The company sought to enforce the non-compete clause in the employment agreement in which the employee undertook not to engage with company […]

In recent years there has been a trend of increase of liability of directors and officers of companies in respect of acts performed by the company. As a result, many directors find themselves at the center of legal proceedings. In some cases, even employees file personal claims against directors and even if the Courts finally […]

A bidder in a sought to disqualify the winning bidder, contending that it has substantial evidence to prove price-fixing prohibited under the Antitrust Law. The Court held that if a bidder with “incriminating” information about another bidder need bring such before the tender committee at the earliest possible date. In the present case, all the […]

A bookstore held illegal copies of textbooks, but contended that it did not sell them. The Court held that the existence of illegal copies is sufficient to determine a copyright infringement and to place responsibility both on the store and on its manager. Copyright infringement exists when the tortfeasor knew or should have known about […]

An indictment was made against a company and its officers for violations of environmental laws and acts of water pollution carried out. The polluting company was merged into another company and the indictment was made against the merged company (and not against the polluting company which was cancelled as part of the merger). The Court […]