Afik News 258 06.06.2018

Afik News 258 06.06.2018


Legislative Updates

April 16, 2018

An escrow of shares may be recognized even if not been registered at the register of shareholders

A person held a share in a company for another but was registered as a shareholder at the register of shareholders and not as an escrow agent. When he requested to review company documents, he was refused because he is not the real shareholder...

May 27, 2018

An agreement made for a company in incorporation will be obligating if the company ratified it after its incorporation

A person purchased real estate on behalf of a company that he incorporated only three weeks later and adopted the agreement after its incorporation. A few days later, the seller withdrew and sold the land to another...

April 24, 2018

Payment to an hourly worker shall be at the end of the month even if calculation is made in a manner which does not fit the calendar month

The Junior faculty members at the University of Haifa, who work on an hourly basis and report their hours each month until the 19th received their salary only at the beginning of the next month – thus, the salary for 19th of January through 18th of February is paid only at the beginning of March although the January part of the salary should be paid by the 9th of February...

May 17, 2018

Imposition of a lien for a disputable debt constitutes defamation

A municipal water corporation imposed a lien on the bank accounts of a real estate development company for a water debt, despite the fact that the debt was in dispute...

May 11, 2018

Delivery of a new apartment from a contractor will not be automatically delayed due to changes by the purchaser even if the agreement so stipulates

A contractor had the purchasers of a new apartment sign an agreement according to which because the tenants sought to make changes in their (yet to be built) apartment, the date of apartment delivery under the contract may be postponed by 60 days. For reasons unrelated to such changes the apartment was not delivered on time but the contractor refused to compensate...

May 8, 2018

A bid in a tender that includes reservations seriously undermines the principle of equality and should be cancelled

A tender bidder accompanies the bid with a letter of reservations with the proposal that significantly changes the terms of the tender but nevertheless won the tender...