Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeA middleman need prove being the effective agent for the transaction itself and not only to have brought about an idea for a possible transaction in the field
International Transactions and Dispute Resolution
Commercial, Banking and Financial
Dispute Resolution
A businessman tried to interest an international pharmaceutical company in the possibility of cooperating with a Russian businessman to set up a pharmaceutical factory in Russia. No middleman agreement or joint venture agreement was signed, but many months later the pharmaceutical company decided to set up a factory elsewhere in Russia, and the businessman claimed […]
Working on cellphone outside the working hours will not necessarily create an overtime payment liability
Labor Law and Immigration
Dispute Resolution
An employee who resigned filled a claim against its employer, inter alia, for overtime compensation for “round the clock” employment outside the frame of the working hours. The employee relied on printouts of telephone calls and a text in which it was written that to work 24 hours a day. The Labor Court held that […]
Notice of termination of a lease must be within a reasonable time and include all grounds for termination
Dispute Resolution
Real Estate
Commercial, Banking and Financial
An owner of an asset leased to the store informed the tenant, after a year, by an SMS that the agreement is terminated because the tenant had not provided an invoice that was to be provided at the beginning of the lease. The owner then turned to the Court in an eviction claim detailing further […]
In a company that is managed as a partnership officers owe fiduciary duty both to the company and to the shareholders
Business, Corporate and Joint Ventures
Dispute Resolution
A person who was supposed to be appointed as manager of a company that dealt with a project to develop a product in the field of network security set up a competing business with two of the company’s entrepreneurs. The Court held that it was not proven that the competing business used the company’s trade […]
No oppression of the minority exists when the minority agreed to the “oppressing” terms and no legitimate expectation is impaired
Business, Corporate and Joint Ventures
Dispute Resolution
Shareholders of a company contended the majority oppressed them by conducting losing interested party transactions with a group owned by it and at some point, terminated their employment in the company and diluted their holdings. The Court held that oppression of the minority is a situation in which the legitimate expectations of shareholders are prejudiced, […]
Globes: ElSight is raising ILS 24 million in a secondary offering on the Sydney Stock Exchange
Capital Markets and Stock Exchange Regulations
An article on 06.03.2018 in Globes, written by Shiri Habib-Waldhorn, about a second successful issue of ElSight Ltd.
The tenders committee is entitled to cancel a win even after the tender has ended
Public Law, Environment and Tenders
Dispute Resolution
A tender publisher decided to disqualify the winning bidder and forfeit the bidder’s bank guarantee after the winning. The Court held that if it turns out that the winning is a result of fraud, deception or concealment of material information by the winner and that the winning was obtained unlawfully, there is justification for disqualification […]
