Afik News 245 06.12.2017

In order to evaluate the value of holdings in the Company’s share capital, for purposes of sale, taxation, revaluation in the financial statements and other needs, we often find companies with a capital structure consisting of various types of shares with different rights on their holders. In order to assess the value of the holdings, […]

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 mailbox of the employee. The findings revealed that the employee took the employer’s database several times and acted to sell it to third parties. […]

A lessor and a lessee negotiated the renewal of the lease at the end of the year, but when the negotiations failed, the lessee announced that as far as it is concerned an agreement had been executed and it does not intend to vacate the property at the end of the year. The Court held […]

The employment agreement of two senior managers of an internet service provider (ISP) included a bonus in case of a merger and they also contended that they were entitled to employee stock options in the merged company.  After the merger of the ISP with two other ISP’s and the merged company did not pay the […]

When a car fuels at a gas station and “neglects” to pay, it is a debt of dozens of dollars at most and it is relatively easy to locate the vehicle owner and collect the money. In contrast, when a ship is refueling, the cost may reach hundreds of thousands of dollars, the payment is […]

A local newspaper moved the Court to order a municipal company to publish equally in local newspapers and contended that the reason for the municipal company avoiding publishing in it is criticism in the newspaper on such municipal company. The Court held that the tender obligation does not apply to municipal companies because regulations to […]

The Knesset approved a legislative amendment applying similar obligation to any lender, including institutional lenders (banking corporation, ancillary corporation, a clearing house, etc.) and anyone engaged in operating a credit intermediation system. The law protects non-corporate borrowers but does not protect corporations. The amendment raises the maximum possible interest rate, which may now reach as […]

A lender of money to a not-for-profit society, which ceased operation, and when the sum was not repaid, sued not only the society but also seven people who were registered as its founders. The Court found the society responsible but not its founders and held that a not-for-profit society is a legal corporation with a […]

Investors lost their money in investing in commercial real estate in Latvia and sued, among others, the managers of the entrepreneurial company, inter alia, due to misrepresentations made in presentations and mismanagement of investments. The Court rejected the claim against a manager of the entrepreneurial company and held that in order to raise a contention […]