Afik News 262 01.08.2018

Afik News 262 01.08.2018


Legislative Updates

July 12, 2018

D&O exemption from liability replacing a prior exemption creates continuity and does not stand by itself

A shareholder in a public company moved to approve a derivative claim against directors contending transactions in conflict of interests and negligence, after the company's board of directors refused to file the claim. The shareholder also contended that the letters of exemption from liability and indemnification given to the directors were not valid as they were amended after the events that are ...

July 24, 2018

Under certain circumstances in a claim against a shareholder one may claim rights belonging to the company

An entrepreneur led a group of purchasers in a construction project and contacted the purchasers both by himself and through a company wholly owned by him. In the insolvency proceedings of the entrepreneur, his creditors requested to receive rights belonging to the company wholly held by him...

June 20, 2018

Failure to review potential debts prior to commencement of voluntary liquidation of a company will create personal liability for managers

A travel agency was ordered to pay severance pay and social rights to an employee.  Before the Court verdict was given, the company entered voluntary liquidation proceedings and the employee sought to personally obligate the directors and the liquidator of the company...

June 5, 2018

A manager in a position of trust is not entitled to compensation for overtime

A garage manager who had a central position and even earned a high salary demanded payment for overtime...

June 24, 2018

An employee that revealed after dismissal that she undergoes fertility treatments may not be terminated without permit

An employee was summoned for a hearing after which she was terminated.  After receipt of the summary of the hearing, the employee notified that she is in fertility treatments...

June 4, 2018

A joint tenant may not make a unique use of part of the land if the use prevents reasonable use of the other owners

A land was held in joint tenancy, where each holder used a specific built part of the land and the courtyards were in common use. One of the holders closed part of the yard and built a café there...