Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeAn agreement with a condition precedent lacks force if the condition is not met unless the party claiming so cause the non-fulfilment of the condition
Commercial, Banking and Financial
Business, Corporate and Joint Ventures
Dispute Resolution
Two shareholders signed a memorandum of understanding to sell their shares in the company to a third party provided they both sell together. Although a binding agreement was executed with only one shareholder, the purchaser filed a claim to enforce the agreement or to pay the agreed compensation under the agreement. The Court held the […]
A tender offer will not be disqualified due to a different writing of the name of the bidder in the bank guarantee if it is clear to whom it refers
Public Law, Environment and Tenders
Dispute Resolution
The Tenders Committee disqualified a tender bid because the name of the bidder was written differently than at the bid. The Supreme Court held that the laws of tenders review any defect in a bank guarantee under strict scrutiny, but that not any defect will cause the bid to be disqualified. A mistake in the […]
Employer, you may terminate an employee, but promises are to be kept!
Labor Law and Immigration
An employer terminates the employment of an employee due to the employee not being suitable for the position. The Labor Court sets that prior to the dismissal of the employee, the employer should have sought another position for the employee. Does this mean that the labor relations in Israel are moving in a dangerous direction […]
Waiver of Privilege by a Trustee in Bankruptcy Proceedings
Dispute Resolution
International Transactions and Dispute Resolution
In Avonwick v Shlosberg [2017] Ch 210, Mr Justice Arnold rejected the widely held assumption that a trustee-in-bankruptcy simply ‘stood in the shoes’ of the bankrupt as regards his rights of privilege and was free to waive the privilege for the purposes of the bankruptcy. As the Court of Appeal determined in upholding that decision, […]
A purchaser who did not record a cautionary note will not be deemed negligent if cautionary note could not be recorded
Real Estate
Dispute Resolution
A construction company sold a land, but the purchaser could not register a cautionary note or ownership transfer because the company was not yet registered as owner at the land registry. Ten years later the purchaser registered a cautionary note but in the meanwhile the land was resold by the company and a cautionary note […]
In case of a deadlock in a company without oppression the shareholder with the stronger ties to the company will be entitled to purchase the other
Business, Corporate and Joint Ventures
Commercial, Banking and Financial
Dispute Resolution
A company that managed a winery was held by three shareholders, but without an agreement between them. The winery was managed on the land of one of the and the vineyard was also on that land. At some point a dispute arose between the shareholders, as a result of which one of them refused to […]
A Court appointed office may not interrogate third parties in order to get procedural advantages in Court cases
Business, Corporate and Joint Ventures
Commercial, Banking and Financial
Dispute Resolution
A receiver was appointed to a public company which main activity was in the field of real estate in Central and Eastern Europe, and within the framework of his position he requested to summon two people who were not officers of the company to interrogate them. These objected to the interrogation contending that the whole […]
Disclosure obligation on car traders may not be conditioned
Commercial, Banking and Financial
Dispute Resolution
A purchaser of a used vehicle discovered an engine problem. The trader contended to have given data on the issue, but the trader did not present a “disclosure form” at the transaction. The Court accepted the claim and held that failure to duly present the purchaser with a “disclosure form” constitutes, by itself, a violation […]
