Afik News 252 14.03.2018

Afik News 252 14.03.2018


Legislative Updates

February 19, 2018

No oppression of the minority exists when the minority agreed to the “oppressing” terms and no legitimate expectation is impaired

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...

February 8, 2018

In a company that is managed as a partnership officers owe fiduciary duty both to the company and to the shareholders

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...

January 13, 2018

Working on cellphone outside the working hours will not necessarily create an overtime payment liability

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...

February 28, 2018

A 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

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 entitlement to finders fees ...

February 27, 2018

Notice of termination of a lease must be within a reasonable time and include all grounds for termination

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 violations of the lease agreement...

February 22, 2018

The tenders committee is entitled to cancel a win even after the tender has ended

A tender publisher decided to disqualify the winning bidder and forfeit the bidder's bank guarantee after the winning...