Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribePrior to dismissal an employer need seek an alternative position for an employee who can no longer fulfill current position
Labor Law and Immigration
Business, Corporate and Joint Ventures
Commercial, Banking and Financial
An employer held a conversation with a veteran employee, during which it was explained that the employer wishes to remove the employee from his managerial position due to relevant considerations. It was agreed that the supervisor would consider future optional positions for the and that there would be a follow-up meeting within a few days. […]
“Corporate Insider”: Excellence in M&A Law of 2017 for Afik & Co.
International Transactions and Dispute Resolution
Mergers and Acquisitions
"Corporate Insider" magazine chose Afik & Co. to receive an excellence award in the field of M & A transactions for 2017
A motion for liquidation filed in order to apply pressure is in bad faith and will be rejected even if technically the company is insolvent
Business, Corporate and Joint Ventures
Dispute Resolution
An ILS 18 million dispute between a flour supplier and a food-producing company was settled by a mediation agreement. When the agreed amount was not paid, the supplier sent a demand letter and then filed a request to liquidate the company. The Court held that there is an unsettled debt of ILS 15 and therefore, […]
To obligate shareholders one need prove that company was managed to deceit creditors
Labor Law and Immigration
Business, Corporate and Joint Ventures
Commercial, Banking and Financial
An employee filed a claim against the employer as well as personal claim against its shareholders alleging that they tend to open companies and mix their private assets with company assets while hiding under the organizational-legal structure they created and using it to deprive the employee as a creditor of the employer. The Labor Court […]
Change of Terms after Execution of Agreement with Tender Winner
Public Law, Environment and Tenders
Maritime, Aviation and Transportation Law
In the context of a tender for marine fueling, the port requires the bidders to present a refueling barge that meets certain criteria. The winner of the tender waits until the agreement is signed with it and then informs the port that it is about to hire third party services on time charter terms to […]
Seller of land that does not terminate an agreement upon failure to receive payments may lose the right to terminate
Real Estate
Dispute Resolution
Purchasers of land ceased paying the consideration to the sellers, after they paid only the first installment. A few years later, the purchasers turned to the Court to extend the time for performance of their obligations. The sellers, however, sought to declare the termination of the agreement in the light of a fundamental breach by […]
In order to remove discrimination against a shareholder, the Court has full independence in choosing the appropriate remedy
Business, Corporate and Joint Ventures
Dispute Resolution
In a family company founded by two brothers, a dispute broke out between one of the brothers and the heirs of the other. The heirs contended that their rights as shareholders were oppressed by being excluded from company management and operations and transactions. The heirs contended that the auction mechanism between the parties determined by […]
