Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
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Capital Markets and Stock Exchange Regulations
International Transactions and Dispute Resolution
An article on the issue of IPOing and Israeli company on a foreign market (e.g. in Australia, Singapore or Nasdaq Nordic) and whether to list the Israeli company or a special purpose vehicle (SPV).
Circumventing labor laws and even issuing fictitious pay slips are not by themselves grounds for piercing the corporate veil
Labor Law and Immigration
Business, Corporate and Joint Ventures
Dispute Resolution
An employee was employed by a company for over 17 year. After his demise, his heirs discovered that during the entire term of his employment, no deposits were made to a pension fund and demanded payment form the company and its shareholder. The Labor Court held that the employee has a responsibility to ensure his […]
A liquidator has the right to receive documents from a bank even if the company did not have such right
Business, Corporate and Joint Ventures
International Transactions and Dispute Resolution
Dispute Resolution
The foreign liquidators of a number of Australian companies requested Discount Bank of Israel, in which some of the companies’ accounts were managed, to provide them with data regarding the companies. The bank refused and contended that the companies were not entitled to receive it because they had ceased to be customers of the bank […]
The enhanced data disclosure duty of a franchisor may not arise when the franchisee checked the property aforehand
Real Estate
Commercial, Banking and Financial
Dispute Resolution
A franchisee and a franchisor entered into an agreement for the operation of a café a yet to be built commercial center. Prior to the execution of the agreement the franchisee checked the asset but when two years lapsed and the construction of the commercial center has not yet been completed, the franchisee demanded the […]
The existence of an Israeli trademark does not prohibit parallel import of the product
Commercial, Banking and Financial
International Transactions and Dispute Resolution
Dispute Resolution
An importer acquired in the Ukraine Schweppes soft drinks and imported such to Israel in while such drinks are produced and sold in Israel by an Israeli company which also holds the trademark for the brand in Israel. The Court held that the existence of an Israeli trademark does not prevent an importer from locally […]
Cancellation of a tender after the stage of opening the bids and selecting a winner will be approved only in exceptional circumstances
Public Law, Environment and Tenders
Dispute Resolution
The Israel Electric Corporation (IEC) canceled a tender after the bids were open and a winner was selected and approached all bidders to submit new bids in a competitive procedure. The Court accepted the petition and held that canceling a tender at this stage is an extreme and unreasonable step. Cancellation of a tender and […]
An employee may provide service to customers who contacted him after termination of employment
Labor Law and Immigration
Dispute Resolution
A company that provides business insurance consulting services demanded that its former employees are banned from any business relationship with its customers. The Labor Court dismissed the claim and held that the employees did not breach the contractual undertaking of non-compete in their employment agreement and that their freedom of occupation shall not be restricted. […]
