Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeOnly in rare cases a company filing a claim will not be required to deposit a security for defendant’s expenses
Business, Corporate and Joint Ventures
Dispute Resolution
A manufacturing company discovered a defect in the products at the end of the manufacturing process and contended that this could only be caused by a defective raw material and such raw material was purchased from only one supplier. The Court obligated the company to deposit a security for the supplier’s expenses. The default is […]
Looming deadline for ASX new corporate governance rules
Capital Markets and Stock Exchange Regulations
Each ASX listed entity is required to include in its annual financial report a corporate governance statement stating that it complies with the Corporate Governance Principles and Recommendations published by the ASX, or explains why it does not. With the 4th edition of such principals, published on February 2019, to apply as of January 2020, […]
When selling land in a receivership process additional bids may be submitted even after a bid won
Real Estate
Dispute Resolution
A Purchaser won a bidding process to purchase land and transferred 60% of the payment after Court approval of the transaction, although the Court held that the Execution Office Registrar must also approve it. Before final approval of the transaction, a third party submitted a slightly higher bid. The Supreme Court held that, despite the […]
When there is economic reasoning behind a reduced price of goods, customs fees will be calculated according to the price paid
Taxation and Government Incentives and Funding
International Transactions and Dispute Resolution
Dispute Resolution
Cellular operator purchased cell phones and imported them to Israel while some of the devices were purchased, for promotional and spare parts, at a reduced or free cost. The Customs Authority required to calculate the value of the transaction in accordance with the value of the products and not in accordance with the reduced price […]
A commercial that uses parody to criticize a commercial of a competitor does not constitute copyright infringement
Commercial, Banking and Financial
Dispute Resolution
Copyright, Trademarks Media and Artists
A coffee brand manufacturer employed a double of an actor identified with the competing brand and in the commercial itself such actor is presented leaving a shop designed as the shops of the competitor and it is specifically written that such actor is not the presentor of the competitor. The Supreme Court held that the […]
A will shall be valid if the testator was mentally capable even if the testator suffered from periods of mental issues
Intergenerational Law (Trusts, Estates, Lasting Powers of Attorney, Parenting)
Dispute Resolution
A 70-year-old man passed away leaving a will in which he canceled a previous will prepared seven years earlier and disinherited one of his daughters. The daughter contended, among other things, that the fact that her father was treated by a psychiatrist over the years shows that he was unfit to prepare the later will. […]
A waiver of rights in a company may not be enforceable
Mergers and Acquisitions
Business, Corporate and Joint Ventures
Commercial, Banking and Financial
One of the founders of a startup company was persuaded by the other founders to sign a document whereby he waived his rights to his shares in the company. After the company made an exit of USD 200 million, the founder demanded that the waiver be revoked. The Court accepted the claim and ordered the […]
A joint parenting order may be retroactive to the time of birth even if the motion is filed late
Parentage, Surrogacy and Adoption
Dispute Resolution
Nearly three years after a son was born from a sperm donation to a couple, they sought a parenting order to recognize both, and not just the biological mother, as the minor’s mothers. The Court held that the parenting order will be retroactively applied as of the date of the minor’s birth. Two spouses, who […]
