Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeA liquidator wage shall not be higher than that prescribed in the regulations, except in exceptional cases
Business, Corporate and Joint Ventures
An escrow agent submitted a motion to the Court to approve the liquidator’s wage at a rate higher than that set forth in the regulations, retroactive, after doing their work. The Court held that although the good and complex work, the rule is that the wage of office holders will be terminated in accordance with […]
Legal Updates: Minimum wage increased to ILS 5,300 as of December 2017
Labor Law and Immigration
Commercial, Banking and Financial
The Knesset approved an amendment to the Minimum Wage Law that commencing December 2017, the minimum wage will increase from ILS 5,000 per month to ILS 5,300. The hourly minimum wage is increased from ILS 26.9 to ILS 28.5. The daily minimum wage is increased from ILS 200 to ILS 212 for a 6 days’ […]
An international company marketing in Israel may be sued in Israel even if there is a foreign jurisdiction clause
Commercial, Banking and Financial
Business, Corporate and Joint Ventures
High-Tech and Technology
A motion for approval of a class action was filed in Tel Aviv against a website advertising hotel around the world on the basis that it presented misleading data about the rating of a 5-star Israeli hotel in violation of Israeli Law. The website contended that under its terms of use there is an exclusive […]
Lessor of a property which construction is unfinished need truly report the lessee the forecast of completion of construction
Real Estate
Dispute Resolution
Commercial, Banking and Financial
A lessee in a commercial center terminated the lease agreement after the lessor was late to hand over possession of the rented property in lack of receipt of “Form 4” (occupancy approval). The lessor claimed that the delay in handing over the rented property was out of its control. The Court held that granting of […]
A precondition for restricting an employee’s occupation is proof of receipt of adequate compensation for the non-competition obligation
Labor Law and Immigration
Commercial, Banking and Financial
Business, Corporate and Joint Ventures
A company employed an operations manager who, within the framework of his employment agreement, signed a non-competition obligation. The agreement stated that when determining the salary, such obligation was considered, and the employee was also compensated for his non-compete obligation. The employee resigned, and the company filed a claim for breach of the non-competition obligation. […]
An agreement defining relations between parties will prevail over a later agreement dealing with a specific matter
International Transactions and Dispute Resolution
Business, Corporate and Joint Ventures
Commercial, Banking and Financial
An Israeli company executed an exclusive distribution agreement of products of an Irish company in Israel, which agreement included an exclusive Israeli arbitration clause. About two months later the two companies (both as one side) contracted a third party for distribution of a specific product with an arbitration clause in London, England. About six years […]
All lenders are equal before the law
Commercial, Banking and Financial
A person seeks a loan. Were collaterals available (for example, an apartment) one can receive a loan at low interest rates. Without collaterals acceptable on the bank or bargaining power, the bank will most likely refuse the loan or demand compliance with harsh conditions. When such person approaches a non-banking entity (which is subject to […]
