Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeVeto rights in the articles of association will not apply when it is activated in lack of good faith or not for the good of the company
Business, Corporate and Joint Ventures
Dispute Resolution
An investor invested USD 50 million in a company that develops medical devices to test blood sugar levels and by doing so diluted the entrepreneur to below 50%. It was agreed that the entrepreneurs receive veto in certain cases, including the replacement of the CEO. At a board of directors meeting that dealt with serious […]
Israeli Companies Looking to Do Business in Australia – How to Structure Operations
International Transactions and Dispute Resolution
For Israeli companies looking to commence or expand their overseas operations, Australia is land of opportunity and can serve as a gateway to doing business in the broader Asia-Pacific region and may even be a good spring-board to the American and the Commonwealth markets. Having decided to enter the Australian market, there are a number […]
A company officer needs to disclose financial data of the company to a third party only if fiduciary relationship exists between them
Business, Corporate and Joint Ventures
Dispute Resolution
A projects company for excavation and construction projects entered liquidation and a logistics company demanded that the CFO personally pay the company’s debts because the CFO promised to notify it in case the company enters financial difficulties. The Court rejected the claim. For a company officer to have a personal liability towards a third party, […]
Compensation under the anti-spam law will not be afforded if the mailing list removal request was intentionally sent not pursuant to instructions
Commercial, Banking and Financial
Dispute Resolution
A person demanded compensation for 79 advertising emails received after he insisted on removing himself from the mailing list, not using the manners offered in the removal notice, because he was allegedly afraid of viruses. The Court rejected the claim and held that the plaintiff acted in bad faith and with malicious intent to extort […]
A right of first refusal does not include a right to participate in the negotiations unless specifically written in the land-sharing agreement
Real Estate
Dispute Resolution
In a land sharing agreement of a land on which a commercial center was built, it was stated that a party wishing to transfer its rights to a third party need first offer the transaction to the other party under the terms proposed by the third party, and the other party may purchase the land […]
A parental order may be granted even if the parent is a non-Israeli who is in a gradual process of residency
Parentage, Surrogacy and Adoption
Dispute Resolution
A married female couple have given birth to a girl who is the genetic daughter of the Israeli but not of her spouse, a Hungarian citizen whose stay in Israel is by virtue of a provisional license (under the gradual process for obtaining Israeli residency by virtue of marriage in Israel). The Court granted a […]
Limitations due to bouncing of check due to lack of funds withheld due to the Corona Crisis
Commercial, Banking and Financial
Under law, in case of lack of funds to cover a check, the check will be “bounced” by the bank and upon the bouncing of ten checks due to lack of funds within a twelve months period, the bank account will be limited and its owner will be declared a limited customer. In this situation, […]
An officer of a company may be personally liable for offences by the company of employing foreign workers without a permit
Business, Corporate and Joint Ventures
Labor Law and Immigration
Criminal Law
A company and its manager were indicted for employing a foreign worker without a permit and for not providing 15 foreign workers with adequate accommodation. The Labor Court held that the company is to pay a fine of ILS 85,500 and the officer an additional ILS 42,500. An active manager of a corporation, a partner […]
