Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeA single shareholder and director of a company may be personally liable for company’s debts if shut his eyes and was oblivious thereto
Business, Corporate and Joint Ventures
Dispute Resolution
A company with a single shareholder who was also the sole director therein contracted a telecommunications company while its economic situation did not allow it to consummate the contract and therefor the telecommunications company sought to personally charge the sole shareholder. The Court held that even if the shareholder is not the one who signed […]
A “protected” employees may be sent to an agreed vacation without pay without a government permit during the Corona virus crises
Labor Law and Immigration
נדרש היתר מראש של המדינה להוצאה לחל"ת של עובד "מוגן" (למשל, עובדת בהריון) אלא בהתקיים מספר תנאים מצטברים, לרבות הסכמת העובד וקשר ישיר בין ההוצאה לחל"ת לבין מגפת הקורונה
Corona Virus & Insurance – Frequently Asked Questions
Commercial, Banking and Financial
Corona Virus & Insurance – Frequently Asked Questions Dear customers and friends, We are in the midst of unconventional times and naturally experience feelings of uncertainty and concerns. We have compiled answers to some commonly asked questions that arise regarding the interface between Insurance and the Corona Virus (Covid-19). Is there any cover for damage […]
An easement may be canceled in the absence of use or if there is a change in land or even in the plans of its owners
Real Estate
Dispute Resolution
Owners of the inner part of a split plot located in the mountainous part of the city of Haifa passed for years through the second section, on a steep slope, to the main road. Years later, the municipality built a public staircase outside the plot, which created an alternate route to the main road and […]
Responsibility of Directors and Officers under the Shadow of the Corona Virus
Commercial, Banking and Financial
The Corona Virus bears many health and economic risks, but also creates a new playing ground and set of game rules that corporations and their managers have not previously faced. What negligence claims are directors likely to face and how will they protect themselves from these anticipated future claims? In light of the Corona Virus […]
Coordinating tenders between competitors is a violation of the Antitrust Law and fraud
Competition
Public Law, Environment and Tenders
Criminal Law
A shareholder and manager of a water meter company committed 15 acts of coordinating tenders with competitors. For example, he reached an agreement with a competing company whereby it would not oppose to an appeal by the company to the Supreme Court for cancellation of a tender, in which the competing company won and in […]
When the language of the contract aligns with its commercial logic it will be construed according to the plain meaning of its wording
Commercial, Banking and Financial
Real Estate
Dispute Resolution
In an agreement for the purchase of an apartment for housing purposes, which had no building permit, it was set that if the purchaser will not be able obtain a mortgage due to the bank’s refusal, the downpayment will be reimbursed. The purchaser was refused mortgage by three banks but the seller refused to repay […]
Private: Globes: Bio-Nexus Founder Fights Back: It is the International Investment Fund that brought about our Collapse
High-Tech and Technology
Mergers and Acquisitions
Business, Corporate and Joint Ventures
The Globes journalist Matan Barnir wrote about a motion filed by the Afik & Co. office
Emptying a company from operations and funds before filing a motion for voluntary liquidation may be considered as creditors defrauding
Business, Corporate and Joint Ventures
Dispute Resolution
A supplier of a company demanded payment from the shareholders for a debt of the company after motion company’s accounts were emptied, the company’s operations were shut down and then a request for a voluntary liquidation was filed, in which the debt was not disclosed. The Court accepted the claim and held that the corporate […]
