Afik News 284 05.06.2019

Afik News 284 05.06.2019


Legislative Updates

May 16, 2019

An officer can not use company resources to obtain personal business opportunities

A shareholder who is also an officer of a company that provides security services, guarding servicer and secure logistics, purchased a business of managing ATMs. The company's second shareholder contended that it is a business opportunity of the company, which belongs to the company...

May 20, 2019

The corporate veil does not protect officers from bad faith tortuous acts made by them

Purchasers of an apartment filed a claim against the contracting company as well as against managers of such company...

April 30, 2019

A purchaser of a patent within liquidation proceedings of a company receives the patent free and clear of rights of third parties

After signing a confidentiality agreement, an inventor presented an idea to a company. The same company registered a patent on the idea and after years went into insolvency and the patent was sold as part of the liquidation proceedings in a sale approved by the liquidation Court...

March 25, 2019

Allowing to play music in a public place without permission from the copyright holder is an infringement

The owners of the banquet hall allowed those who used the hall to play music during the events in the hall. The Association of Composers, Authors and Publishers moved the Court to instruct the owners of the hall to desist from infringing the copyright while paying compensation for the copyright infringement...

April 28, 2019

A lien of real estate that was not duly imposed may constitute defamation

A municipality imposed a lien on properties and rights due to a city tax debt, but the property owner contended that he did not have possession of the property at the time and therefore the foreclosure was unlawfully imposed and impaired his reputation...

May 20, 2019

In maritime transportation an arbitration clause limited to General Average/Arbitration does not apply to claims related to belated delivery

A company managing a ship and the ship owner contracted in a vessel lease agreement with an Israeli company for the shipment of palm oil from Singapore through the Philippines and Indonesia to Israel. The agreement included a provision setting that any General Average will be decided in arbitration in London, England, under the York/Antwerp Rules, but upon a delay in the delivery of the goods due...