Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeA party to negotiation must disclose to the counterparty material information even if the counterparty represented to have made the required research
Commercial, Banking and Financial
Real Estate
Dispute Resolution
A lessee demanded to terminate a lease agreement for a petrol and gas station after the lessor did not disclose the fact that there may be legal difficulties in obtaining a business permit for the purpose of the lease due to lack of a building permit for one of the leased gas facilities. The Supreme […]
A claim against an officer of a company will be barred if it does not include specific details of the grounds for a personal liability
Business, Corporate and Joint Ventures
Dispute Resolution
In the absence of a building permit, the winner of the tender was forced to dismantle buildings built according to a tender published by the Economic Company for the Afula Municipality, for the planning and construction of buildings as part of the restoration project of the Turkish train station and converting it to a recreation […]
In the absence of agreement regarding the dissolution of tenancy in common it will be dissolved by selling the asset and dividing the profits
Real Estate
Dispute Resolution
Two tenants in common sought to dissolve the partnership but one of whom demanded the sale of the asset in its entirety and splitting the profit while the other demanded the sale of only the exiting partner’s share. The Court held that the tenancy is to be dissolved by the sale of the asset in […]
Funds withdrawn from a company by a shareholder and not repaid may be deemed taxable dividend income
Taxation and Government Incentives and Funding
Business, Corporate and Joint Ventures
Dispute Resolution
An owner of a company withdrew funds accumulated in the amount of ILS 2,200,000 without reporting it to the Tax Authorities and without paying tax, contending that it was a loan intended to be repaid to the company. The Court held that the funds are classified as a taxable dividend because such were not repaid, […]
In the absence of any other consent, a commitment to raise funds for the company is a commitment of ‘best effort’ and not a commitment to a result
Business, Corporate and Joint Ventures
Dispute Resolution
An adviser hired for the purpose of raising funds for a possible crowd financing in the U.S. was demanded to return shares received as consideration after the crowdfunding platform terminated the agreement with the company due to a breach of its regulations and after the company did not meet the agreed capital raising target. The […]
Lien on me…
Commercial, Banking and Financial
Construction
Real Estate
“Possession in nine tenth of the law”, but what happens when possession is given to a contractor performing a job for the owners of the property but later refuses to return it? Imagine a scenario where owners of apartments in an apartment building enter an agreement with a contractor for the purpose of doing construction […]
Things exchanged during legal proceeding are not deemed defamation even if said regarding a person who is not a party to the proceedings
Commercial, Banking and Financial
Dispute Resolution
Privacy, GDPR, Confidentiality and protection of reputation
A company sued a person and in a document filed by such person he defamed the wife of the company manager. The Court dismissed the wife’s claim and held that because the things were exchange during legal proceeding, they are not deemed defamation. The Israeli Law of Defamation fully protects exchanges made during legal proceedings. […]
