Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeThe Covid19 crisis prevented use of the leased asset – am I exempt from rent?
Real Estate
In the crazy days of Spring 2020, when it seems like the world is in the midst of a third world war where all nations are under the Corona virus attack, many business owners, especially those who operated in the dining and entertainment sectors, found themselves at the battlefront. Thus, while a Parisian café and […]
A purchaser of apartment that does not sign documents despite contractual requirement to do so materially breaches the agreement
Real Estate
Commercial, Banking and Financial
Dispute Resolution
Purchasers of second-hand apartment refused to sign a waiver of claims against the contractor as part of a legal proceeding conducted with the seller and as a result prevented the seller from receiving compensation from the contractor. The Court accepted the claim and held that the purchasers must sign the waiver and compensate for breaching […]
One may not terminate without government approval an employee during fertility treatments even if the employee is not missing work days due to it
Labor Law and Immigration
Dispute Resolution
A gymnastics coach at a sports club commenced fertility treatments and after five months the club sought to terminate her employment even though the treatments continued. The Labor Court held, that an employee is deemed “protected” and her employment may not be terminated without a permit during the 150 days as of the commencement of […]
Granting a gift after one’s demise may be done only by drafting a will
Intergenerational Law (Trusts, Estates, Lasting Powers of Attorney, Parenting)
Real Estate
Commercial, Banking and Financial
A man has bequeathed real estate to his wife under a “heir-after-heir” mechanism whereby the assets that would be left after the wife’s demise are to be transferred to the husband’s relatives under the terms of his will. The woman’s will bequeathed the property to relatives, but about 13 years after the husband’s demise, at […]
A tender bidder cannot complete at a date after submission of the bid documents that are required to meet tender threshold conditions
Public Law, Environment and Tenders
Dispute Resolution
A tender for lighting fixtures required compliance with threshold conditions, and only after compliance with which the committee will review compliance with technical conditions, and only after these two stage are passed the committee will open a second envelope that was submitted as part of the bid and contains the financial bid. One of the […]
Approving an Investment in a company under a valuation lower than its real value may constitute oppression of the minority
Business, Corporate and Joint Ventures
Dispute Resolution
As part of a shareholders’ general meeting it was decided to raise funds by an internal round at a pre-money valuation of USD 700,000 while a minority shareholder contended that the real value of the company is USD 36 million. The Court accepted the motion for temporary order preventing the dilution of the shareholders until […]
An officer of a company who diverts company activities to another company in its ownership will be personally liable for company debts
Business, Corporate and Joint Ventures
Dispute Resolution
Investors in a company demanded that a shareholder in the company, who was also a manager therein, personally repay their shareholder loan given to the company, after diverting the company’s operations to another company under her sole control. The Court accepted the claim and held that the manager acted in bad faith and therefore she […]
