Afik News 333 April 21, 2021

The Israeli Capital Market Authority rejected a license application for a financial services provider due to confidential intelligence information from the Israeli Police regarding involvement in money laundering offenses. The Supreme Court held that the intelligence information raised concerns for public safety, justifying the rejection of the license application. The Israeli Law’s main objective is […]

A company’s plant was damaged by a flood due to actions of local authorities. Sometime after the flood and regardless thereof, the company was voluntarily liquidated and merged into the activities of another company, which sought compensation from the local authorities for the damage. The local authorities refused to pay damages because the plaintiff company […]

A public company which shares were delisted as early as 2010 sought to cease reporting as a public company after this request was approved at a shareholders meeting by a majority of 70% of 106 public shareholders. The Court held that the company may cease reporting as a public company. Generally, a reporting corporation which […]

In a company engaged in military projects in the naval field, which was established by Israeli Navy veterans, the founders agreement stipulated that the shareholders are not to engage in the field of the company scope of activity other than via the company. Over the years, the company has expanded its activities to other types […]

A company engaged in importing, distributing and investing in real estate transferred funds to a company engaged in operating photocopiers in educational institutions and providing photocopying and printing solutions, with the transfer of funds was made according to loan agreements. The loan was not repaid and the company that received the funds contended that such […]

As part of a compromise agreement, the owner of a shopping center undertook to act with due diligence, to register the shopping center as a condominium with the Land Registry and to record the ownership of the buyer of two of the stores in his name within 5 years. However, this was not finished within […]

A lawyer was 15 minutes late in submitting 31 envelopes for a tender published by the Israel Lands Authority which included offers of 76 bidders to a plots marketing lottery designated for building housing units for non-homeowners local residence of the Abu Sanan local authority. The bids were disqualified even though the delay was, as […]

An article on the GDPR, their worldwide adoption even though there are merely a European directive and the risks of a company that does not conduct a risk survey and an internal enforcement plan on the subject