Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeA non-exclusive distributor is not entitled to a notice period prior to the termination of the distribution agreement
Commercial, Banking and Financial
Dispute Resolution
שלום צפת: הזכות לקבל הודעה מוקדמת על כוונה לבטל חוזה הפצה קיימת רק בהפצה בלעדית; הימנעות מציון המילה "בלעדיות" בהסכם או ביניהם או ציון טריטוריה מפורשת מלמדת על כך כי המפיץ אינו בלעדי
In an investment in a company by an investor with personal relationship higher disclosure obligations apply
Mergers and Acquisitions
Business, Corporate and Joint Ventures
Dispute Resolution
An investor lent money to a company under a loan agreement and concurrently signed a non-binding memorandum of understanding regarding investment, which expressly stated that it does not oblige until the signing of a full agreement. The investment agreement was never signed, and the investor demanded repayment of the loan both from the company and […]
A local authority is not obligated without a written order signed by all authorized signatories
Public Law, Environment and Tenders
Dispute Resolution
A contractor performed an urgent work on the basis of a letter of commitment signed by the municipal engineer, but the local municipality contended that the letter is not binding force and refused to pay for the work. The Court held that only documents signed by the head of the local authority and the treasurer […]
On Cryptocurrency, Taxes, and how a Fictitious Nicaraguan Currency Rises in Israel
Cryptocurrency, NFT and Web-3
International Transactions and Dispute Resolution
Commercial, Banking and Financial
Walking in Tel Aviv I saw on the pavement a sign in Hebrew and English noting that a motorcycle using the pedestrian zebra crossing is subject to a fined of ₪ 250. The sign was in Hebrew and English – the Hebrew using the currency mark but in English, as the letter combination is used, […]
Purchase of real estate requires a written agreement but if lost one can bring proof that it existed
Real Estate
Dispute Resolution
Two brothers purchased a storage in a commercial center 40 years ago but never recorded the ownership transfer and when they asked to record the property on their name instead of the contractor they discovered that there is no copy of the sale agreement or proof that they paid the full consideration. The Court accepted […]
Globes: Security Matters up sharply on ASX
Capital Markets and Stock Exchange Regulations
Article in the Globes financial newspaper, reporter Shiri Habib-Valdhorn on 07.07.2019
Also published on the Globes site: https://en.globes.co.il/en/article-security-matters-up-sharply-on-asx-1001292600
Enforcing a contract in a manner other than the agreed essence can only be demanded under exceptional circumstances
Public Law, Environment and Tenders
Commercial, Banking and Financial
Maritime, Aviation and Transportation Law
The Ashdod Port published a tender for supplying marine bunkering services at the port as part of its legal obligation to provide the services. The winner undertook to provide bunkering services with two barges and even rejected contention of being a losing offer. One year after commencing operations, the company demanded a change in the […]
Except in extreme cases a company filing a Court claim will need to deposit a security for the expenses of the defendant
Business, Corporate and Joint Ventures
Dispute Resolution
A company supplying medical services filed a claim against a supplier of video calls applications that were to be used for the supply of medical services by the company’s doctors to its clients. The Court obligated the company to deposit a security for the expenses of the defendants as a pre-condition for proceeding with the […]
