Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeAn active manager in a company that entered liquidation may be personally liable for all its debts
Business, Corporate and Joint Ventures
Dispute Resolution
A liquidator of a food marketing company demanded that a manager and shareholder in the company pay the company over ILS 11 million, which he claimed to have been withdrawn for a transaction entered into to save the company and before the company collapsed. The Court held that the manager is responsible for all the […]
A passenger is to arrive on time to the gate itself and delay for reasons related to the passenger is his responsibility
Maritime, Aviation and Transportation Law
Dispute Resolution
A passenger flew from Israel to Istanbul and was due to take a continuing flight to Delhi. The connecting flight was to take off at 19:45. The passenger arrived at the gate at 19:15, and seeing that there was a long queue, sat down to read emails on his laptop. Fifteen minutes later, at 19:30, […]
Setting of options expiration date in an option agreement will trump over the language of the employees stock option plan
Business, Corporate and Joint Ventures
Dispute Resolution
A Company’s employee stock options plan set that options expire 90 days after termination of employment, but an employee of the company contended that his options did not expire because the option allocation agreement set a date that is 10 years after signing the agreement. Another employee who demanded to exercise the options despite the […]
A company is responsible for preventing sexual harassment also by a shareholder of a related company
Labor Law and Immigration
Dispute Resolution
An employee was sexually harassed by a shareholder in a subsidiary of the company in which she was employed. The company miserably investigated the employee’s complaint and diminished her status in the company until her resignation. The Labor Court held in favor of the employee ILS 65,000. The Prevention of Sexual Harassment Law states that […]
Non-eviction of a squatter for years does not prevent withdrawal of the created implicit license
Real Estate
Dispute Resolution
A family lived on a public land for close to 50 years until the government decided to demand their eviction. The Court held that the family are squatters in the land and are to be evicted. In order to create a license to use a land there is no need for an explicit agreement and […]
Deposit of clients funds into the company’s regular account may result in personal liability to managers
Business, Corporate and Joint Ventures
Dispute Resolution
A company that provided car sale services entered liquidation proceedings and did not pay the owner of the sold vehicles the proceeds of the sale. The owner demanded the money personally from the company manager. The Court accepted the claim against the manager and held that he is personally liable for paying for the vehicles. […]
The Economic Competition Law, Restrictive Arrangements and Prison Sentences
Competition
Business, Corporate and Joint Ventures
Criminal Law
A software company develops a successful product that allows easy payment by credit card and offers it to business owners. The provider of the accounting system to such businesses, however, in an attempt to prevent the software company from penetrating the market, makes it clear to the business owners that if they work with that […]
