Afik News 249 31.01.2018

Legislative Updates

December 27, 2017

It is not possible to file claim in respect of debts of a company created prior to approval of creditors arrangement

A creditors arrangement of a company was approved by the Court. After approval thereof, a new debt claim was filed against the company in respect of a debt created prior to the approval of the creditors arrangement...

December 25, 2017

A shareholder who personally signed the agreement alongside the company may be personally liable for obligations of the company

A college and an owner of a real estate related lectures business entered into a cooperation agreement for the provision of real estate courses signed by both the college and its two shareholders. The agreement included a prohibition on the college to engage in any field that competes with the other party for four years in the event of termination of the agreement and another clause stating that ...

January 16, 2018

An arbitration clause continues to apply even after termination of the agreement

Two parties executed an agreement with an arbitration clause. Under the agreement, the parties were to incorporate a company for the development of a medical product but finally the company was not incorporated, and the parties managed the joint venture as a partnership...

January 17, 2018

Execution of a used vehicle purchaser of an agreement and not checking the car by itself does not reduce the car seller liability

A person purchased a car from a seller of used vehicles. The sale agreement did not include a proper disclosure form, but the seller contended that it had provided all the information it had and had no information about the period before it purchased the vehicle and in any case the sale agreement states that the purchaser is entitled to take the vehicle for inspection, but the purchaser waived ...

January 18, 2018

An owner of a ship that was arrested and released is entitled to compensation only if proves that there was a loss or excessive expenses due to the arrest

A fuel supplier requested that a ship be arrested at the Haifa Port by way of realizing a maritime lien on the ship following the supply of fuel four years earlier in Spain. The Court ordered the release of the ship after a hearing in which it was determined that it was not proven that the ship's lessee who ordered the fuel was authorized to charge the ship's owner and that the debt was old and it...

January 21, 2018

Update of Land Purchase Tax Brackets for 2018

On January 21, 2018, the purchase tax brackets under the Property Tax Law (Betterment and Purchase), 1963‎ applicable to the purchase of a residential apartment were updated and will apply from January 16, 2018, until January 15, 2019...