Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeA buyer may cancel a transaction if he discovers that the property does not match the property ordered
Commercial, Banking and Financial
Dispute Resolution
A woman bought a French bulldog puppy to compete in dog shows and in order to breed. When it turned out that the dog was suffering from congenital health problems that prevented it from serving for purposes it was bought for, the buyer asked to return the dog. The Court held that the dog should […]
An exclusive distribution agreement may be created by behavior of the parties
Commercial, Banking and Financial
Dispute Resolution
A Hong Kong registered manufacturer of metal products appointed an Israeli company as its sole distributor in Israel and in the Palestinian Authority. The agreement required that the distributor refrain from distributing competing products and set minimum quantities under which the agreement will be renewed each time. Later in a letter to a third party, […]
Liens on a company do not apply on the right to receive refunds of excise and other taxes that have not yet been submitted
Business, Corporate and Joint Ventures
Taxation and Government Incentives and Funding
Dispute Resolution
A company that engaged in infrastructure works entered into insolvency proceedings, and as a result a floating lien was formed in favor of the bank that extended credit to the company and its floating lien was applied to all of the company’s assets at the time. The bank claimed that the overpayment money (excise tax) […]
Warning note recorded after a mortgage and without the pledging bank’s consent will be canceled should the bank realize the mortgage
Real Estate
Dispute Resolution
A purchaser of a house wrote a warning note without receiving the bank’s approval, the same bank that the house was mortgaged in his favor. The home seller went into insolvency and the house was sold by the bank as part of the mortgage realization proceedings. The Court held that the buyer of the property […]
An employer doesn’t need to hold a hearing as a “formal ceremony” where the employee agrees to terminate the employment
Labor Law and Immigration
Dispute Resolution
An employee and her manager argued over a professional matter, after which the employee told the manager to terminate her employment if he is dissatisfied with her performance, as was done. The Labor Court rejected the employee’s claim for compensation due to lack of a hearing prior to termination and held that under circumstances where […]
Not every non-distribution of dividends constitutes oppression of the minority
Business, Corporate and Joint Ventures
Dispute Resolution
In a company managing an insurance agency, whose shareholders were two brothers and another person as a minority shareholder, the minority shareholder contended that the non-distribution of dividends discriminated against him and that the brothers used company assets to purchase assets for themselves and their family. The Court held that this was not oppression of […]
Employer, an employee signed a waiver? It is not necessarily valid
Labor Law and Immigration
A company employs an employee for a limited period. Before extending the agreement and payment of certain payments related to the finished period of employment, the company demands that the employee sign a waiver as to the previous period of employment. Is such waiver valid under law? In recent years, the trend of the case […]
