Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeShareholders and directors of a company who have breached their fiduciary duty shall bear the company’s damages in respect of their breach
Dispute Resolution
Intergenerational Law (Trusts, Estates, Lasting Powers of Attorney, Parenting)
Business, Corporate and Joint Ventures
Two shareholders who also serve as directors in a company had a clear conflict of interest in allowing the company to enter into a lease agreement with another company owned by them, at a rent less than can be obtained under market conditions. The third shareholder claimed that the two shareholders had harmed him and […]
A non-Israeli company filing a claim in Israel will be required to deposit a guarantee for the expenses of the defendant
International Transactions and Dispute Resolution
Business, Corporate and Joint Ventures
Dispute Resolution
A non-Israeli company filed a lawsuit in Israel against an Israeli company. The Court held that when a company files a claim, the default is that the company will be obligated to deposit a guarantee for the defendant’s expenses. The burden of proof that there is no need for a guarantee or that only a […]
A work that is illegal or illegal to distribute will not be afforded the protection of the copyright law
Dispute Resolution
Copyright, Trademarks Media and Artists
A company engaged in the import, development and marketing of sex products claimed copyright infringement in pornographic films that it produced because links to them appeared on an Israeli porn site. The Court rejected the claim and held that pornographic films are also copyrighted works, but the Court will not enforce the copyright of a […]
A lessee is entitled to compensation for loss of profit as a result of the inability to assign the lease agreement to another
Dispute Resolution
Real Estate
A lessee who was unable to sell a business because the lessor refused to enable assignment of the lease to an alternative lessee was forced to close the business when he realized that the lessor would not cooperate with him in assignment of the lease to another. The Court held that a lessee may not […]
Only in exceptional and limited cases will the court revoke a given arbitrator’s award
Dispute Resolution
An entrepreneur from the field of vessel planning and building connected with an Israeli company to carry out a project in Ghana with an arbitration clause in the agreement that determined that any dispute between parties would be before the ICC (International Chamber of Commerce). The arbitrator gave a ruling in which he determined liability […]
A ship shifted from one pier to another at the port’s initiative is also to pay shifting fees
Dispute Resolution
Maritime, Aviation and Transportation Law
A ship owned by a company incorporated in the Marshall Islands anchored in the port of Ashdod, but the port captain ordered it to move to another pier, which was being renovated at that time and therefore access to it was problematic. The ship did not request to receive services from the port but was […]
Assuming a risk upon execution of an agreement negates the possibility of canceling the agreement due to a mistake if the risk consummates
Commercial, Banking and Financial
Dispute Resolution
A cooperation agreement was signed between a project company and a company for execution of metal works and welding. When one suspected that the agreement was breached by the other, they dissolved the agreement and executed an agreement to cancel the first agreement, in which it was recorded that none of the companies had any […]
In a bankruptcy proceeding interest on debt is at the trustee’s discretion in accordance with the debtor’s conduct
Intergenerational Law (Trusts, Estates, Lasting Powers of Attorney, Parenting)
Dispute Resolution
A person entered a bankruptcy proceeding and after payment of the trustee’s fees and the remaining costs of the proceeding, a sum of money was left in the bankruptcy fund. The Court held that the Bankruptcy Ordinance limits the interest on a bankruptcy debt to the limits of the law, even if there is a […]
Stockhead: IPO watch: Blockchain play Security Matters launches $6.5m offer ahead of ASX listing
International Transactions and Dispute Resolution
Capital Markets and Stock Exchange Regulations
Article in the Australian site Stockhead about the Israeli startup Security Matters that is undergoing an initial public offering on the Australian Stock Exchange. The legal aspects of the offering are jointly managed by the Australian law firm of Holding Redlich and the Israeli law firm of Afik & Co.
Failed to hold a hearing before terminating an employee? It might still be OK
Labor Law and Immigration
In recent years more and more verdicts ordered employers to compensate employees on the ground that no legal hearing has been held before deciding to terminate their employment. Despite the high awareness among employers regarding the obligation to hold a hearing, many employers still fail to do so. But does the failure to hold a […]
