Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeTerminating a contract without a time limit which is based on personal trust does not entitle compensation
Commercial, Banking and Financial
Dispute Resolution
An accountant’s work was terminated by a longtime client even though their engagement was automatically renewed each year. The accountant demanded compensation of ILS 7,500,000, reflecting a loss of future revenues for a period of 16 years ahead. The Court rejected most of the claim and held that the accountant was entitled to receive only […]
An agreement that requires the purchase of services from only one vendor is void as a restrictive trade arrangement
Competition
Dispute Resolution
A distributor of fuel built a gas station for an owner of right in land in exchange for an obligation to purchase the fuel products only from it and at prices set by it. In order to ensure that this undertaking is fulfilled, the land was leased by him to the fuel company and it […]
A parental order – life when state approval is required to be a parent…
Parentage, Surrogacy and Adoption
In many cases when you see how parents deal with their kids you cynically say to yourself, “If only one needed a license to be a parent.” However, there are cases where such a “license” is actually required such as when two people both seek to be recognized as the child’s parents, with only one […]
The Secret to a Successful IPO in Australia
Capital Markets and Stock Exchange Regulations
There are many measures of success for initial public offerings (IPOs). First and foremost is completing the deal and raising the intended proceeds. From the perspective of remaining and new shareholders, however, the subsequent short-term trading performance is more often seen as the measure of a good IPO as opposed to a bad IPO. For […]
A deceased’s frozen sperm may not be used unless he expressed his wishes that so be done
Parentage, Surrogacy and Adoption
Dispute Resolution
A young man who was about to marry was murdered and at his parents’ request, after his death, sperm was extracted from his body and frozen. Twelve years later, his parents moved to use the frozen sperm to fertilize the deceased sister’s childhood friend. The Supreme Court rejected the motion of the deceased parents to […]
Inserting a real estate asset into a trust will not be subject to land appreciation tax or purchase tax
Intergenerational Law (Trusts, Estates, Lasting Powers of Attorney, Parenting)
Taxation and Government Incentives and Funding
Real Estate
Canadian grandparents formed a trust with an Israeli trustee and their Israeli granddaughter as sole beneficiary of the trust. When the settlors transferred two apartments in Tel Aviv into the trust, the tax authority demanded from them land appreciation tax and purchase tax on the transfer. The Land Appreciation Appeal Committee held that the inserting […]
Sales commissions are deemed part of the base salary
Labor Law and Immigration
Dispute Resolution
A salesperson’s salary was based on a base salary and 5% of the sales made by her. After she was terminated, she demanded severance pay both from the company she worked for and personally from the shareholder of the company, who after termination of employment commenced activating the entire business operation through her business. The […]
An association the replaces another in its activities is not automatically liable for its debts
Business, Corporate and Joint Ventures
Labor Law and Immigration
Dispute Resolution
An employee of an urban sports association that ceased to operate demanded to receive her pay from another association that currently operates similar activities. The Court dismissed the claim. The piercing the corporate veil doctrine allows a company’s debt to be attributed to shareholders in certain circumstance also applies to associations. One of the cases […]
