Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and NotarySubscribe
An employee may be entitled to compensation if not afforded a chair during work time and break time
Labor Law and Immigration
A restaurant hostess was required to work long hours standing up without any possibility to sit, and the work area did not even have a chair on which she could sit during work time.
A developer may make commercial use of facilities that were excluded from the joint property
Purchasers of vacation apartments in a prestigious that included a pool, sauna and a gym discovered that the developer listed these as its property and not part of the common property, operates a Country Club project and insists on charging them entrance fees.
Consent to exclusive jurisdiction of a Court in a certain jurisdiction will usually be upheld in Israel
International Transactions and Dispute Resolution
An Israeli distributor engaged in a distribution agreement with a communications equipment supplier.
An option plan submitted to the Tax Authority and not disqualified within 90 days shall be deemed an approved plan
High-Tech and Technology
A company submitted an option plan to the Tax Authority and received a formal confirmation of receipt.
Globes: Afik & Co. to appoint an Australian lawyer to work with Israeli companies IPOing on the ASX
Capital Markets and Stock Exchange Regulations
Australian attorney Paul Stephenson has recently joined Afik & Co., the Israeli representative of the international lawyer network EALG, with hundreds of lawyers in Israel, the United States, South America and Europe. Stephenson is a senior Australian solicitor specializing in IPOs on the Australian Stock Exchange (ASX) whom for the last 13 years acted as an IPO partner in the Australian law firm of HWL EBSWORTH in Sydney. Doron Afik, Esq., managing partner of Afik & Co., told Globes: "Over the last few years, the firm has focused on the Israeli-Australian market and in full cooperation with the Australia-Israel Chamber of Commerce, which is doing a tremendous job, we work to promote trade between the two countries generally, inter alia by assisting Israeli companies to list on the ASX and in managing their business thereafter. Paul's joining our office is an important milestone for us, enabling us to provide Australian legal advice in Israel, with all the advantages that this entails, both for our Israeli customers and for Australian customers. " In recent years there has been a great deal of excitement regarding the integration of Israeli companies into the Australian capital market. With the listing of the Israeli fintech company Splitit in January of this year, the number of Israeli companies traded in Australia reached 20. "We are concurrently dealing with several IPOs, and despite the less impressive performance of most Israeli companies on the ASX, there is no doubt that the Australian market is still interested in Israeli companies," Stephenson explains from Sydney where he is now on a two-week business trip. "I pushed the Australian stock exchange a few years ago to take an interest in the Israeli market, and in a meeting I had with the management of the ASX in Sydney this week the ASX confirmed that it remains enthusiastic about the listing of Israeli companies on the Australian market. Most of the Israeli companies that IPOed in Australia are start-up companies at the beginning of their journey, and the Australian market is anxious to receive more mature Israeli companies with seven-digit revenues and preferably with profitability. Companies that take advantage of the open arms that the Australian stock Exchange extends to Israeli companies will benefit from a developed capital market, a jumping-board to Western countries as well as the Far East and the many other advantages of having business operations based in Australia and direct access to the Australian capital market. "
A company filing a claim will usually be required to deposit a guarantee for the expenses of the defendant
Business, Corporate and Joint Ventures
An Israeli company provided commercial services to a foreign public company traded on the London Stock Exchange, which is currently engaged, among other things, in developing technologies related to the diamond online trading scene, as well as a software provider for projects related to the blockchain worlds.
Lasting Power of Attorney– a Shield that Might Turn to a Double-Edged Sword
Intergenerational Transfer (Trusts, Estates and Lasting Powers of Attorney)
An lasting power of attorney is an extremely important legal tool that enables an individual to ensure his life routine even when he is no longer competent, whether due to a disease, dementia, an accident or otherwise.
Cancellation of a material clause of a contract automatically cancels its sub articles
Commercial, Banking and Financial
Contracting company won a tender to execute works and signed a contract with the company managing and auditing the tender on behalf of the state, based on a shelf contract (governmental contract).