Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeThe transfer of activity from one company to the other in order to avoid the return of state grants is a fraud and will personally obligate the shareholders
Taxation and Government Incentives and Funding
Commercial, Banking and Financial
Business, Corporate and Joint Ventures
In the 1990s, a diamond trading company received state grants to encourage export, which under certain conditions were required to be repaid. The company ceased operations at a certain stage and transferred its activity to a newly established sister company and did not repay the grant even though the terms for repayment were met. The […]
Using a road for decades will not create an easement if it was originally made by agreement.
Real Estate
Dispute Resolution
In a complex of buildings, the entrance path to an internal building has been, for many decades, through the second building, but the purchaser of the apartment to which it was attached blocked the passage. The Court rejected the tenants’ claim for a right of passage. An easement (such as a right of passage) by […]
An employment agreement with a CEO requires approval by the board of directors
Labor Law and Immigration
Business, Corporate and Joint Ventures
Dispute Resolution
A CEO of a company demanded ILS 1,000,000 contending that he was orally promised a retirement bonus of such amount. The company refused to pay, contending that the parties discussed the grant as contingent on the completion of the purchase of the company by another preapproval by the board of directors. The Labor Court […]
In a company that is “a sort of partnership” the shareholders are required to have increased trust between them
Business, Corporate and Joint Ventures
Dispute Resolution
In a company held equally by two shareholders, one demanded compensation from the other shareholder claiming that the other was stole company’s money. The court rejected the claim in the absence of proof of the existence of the embezzlement even though it determined that the shareholder can sue the other shareholder and his right is […]
Employee Stock Option Plan – Nothing New Under the Sun
High-Tech and Technology
Taxation and Government Incentives and Funding
Business, Corporate and Joint Ventures
Every employee in the high-tech industry (and these days also in other sectors of the economy) knows the term “ESOP” and often start-ups, with the aim of saving legal costs, also create an employee stock option plan and option grant agreements instead of salary (or as part of the salary) without first consulting a lawyer […]
A list of customers and suppliers will be recognized as a trade secret only if it has “added value”
Labor Law and Immigration
Dispute Resolution
Copyright, Trademarks Media and Artists
A company employed a sales person who signed a confidentiality and non-competition agreement. Close to the termination of his employment, the employee set up a competing business, contacted suppliers of the company and published the same inventory as the company on a website that the employee established. The Labor Court held that the employee is […]
One may not purchase shares of a public company even if the insider information does not come directly from the company
Business, Corporate and Joint Ventures
Criminal Law
Dispute Resolution
A consultant of a shareholder in a public company purchased shares of the company just before the announcement of information about the intent of the control holder in the company to make a tender offer for all shares of the company, and sold them at a large profit shortly after the share price rose following […]
