Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeA power of attorney shall not be revoked if made to ensure existence of a company
Business, Corporate and Joint Ventures
Intergenerational Law (Trusts, Estates, Lasting Powers of Attorney, Parenting)
Dispute Resolution
A founder and shareholder of a group of companies granted a power of attorney to three of his six children to ensure proper management of the company. The father lost his legal capacity and the validity of the power of attorney was questioned. The Court held that the power of attorney is valid even though […]
On Jabotinsky and the new national sport – personal claims against control holders
Business, Corporate and Joint Ventures
Dispute Resolution
An article in The Observer newspaper 5.5.1939 by Ze’ev Jabotinsky opens with the words: “Not every nation has its own national sport; and if there is, then the other nations soon come and learn it and immediately they start to play it, maybe better than the inventors themselves and by that it ceases to be […]
A foreign company filing a claim in Israel will be obligated to deposit a security for the expenses of the defendant
Maritime, Aviation and Transportation Law
Business, Corporate and Joint Ventures
Dispute Resolution
Following an accident between a fuel tanker and two Turkish barges in the port of Haifa, the two barges were damaged and the lawsuit filed against the port also included the Romanian insurer, by virtue of the right of subrogation. The Court held that the insurer may file the claim by virtue of the right […]
One may not withdraw from a gift transaction unless it was conditional in the first place
Real Estate
Commercial, Banking and Financial
Dispute Resolution
As part of a settlement over a family dispute, an uncle gave his nephew a real estate asset as a gift and signed an irrevocable power of attorney, all while the nephew covenanted to demolish a staircase built in the uncle’s territory and repair the boundary line between their plots. After the power of attorney […]
Payment of a shareholder to some of the creditors of a company that collapsed does not create liability to its debts
Business, Corporate and Joint Ventures
Dispute Resolution
A company that dealt with training in riding and therapeutic riding collapsed and customers of the company sued one of the directors, who also held 33% of the shares, partly because she paid out of her own pocket, after the company collapsed, debts to some creditors but not others. The Court held that there is […]
An international arbitration clause will be honored by a Court in Israel in almost every case
International Transactions and Dispute Resolution
As part of an investment agreement and a founders agreement in a company, it was stated that all disputes between the parties will be settled only in arbitration in Cyprus under Cypriot law, which arbitration will commence within 30 days of demand. The company and one of the shareholders and the investor were parties to […]
