Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeSole signatory rights do not entitle a shareholder to make private transactions in company assets
Business, Corporate and Joint Ventures
Real Estate
Dispute Resolution
An owner of an entrepreneurial company which owns several offices for sale and a purchaser entered into an exchange agreement (barter) according to which the owner sold 4 offices of the company in exchange for the transfer of ownership in the purchaser’s apartment to the owner’s name. The Court held that there is no way […]
A company debt cannot be attributed to a shareholder merely because he granted a private property to the company
Real Estate
Business, Corporate and Joint Ventures
Dispute Resolution
A shareholder in a private company allowed it to manage a property owned by him and collect the rent. The company, which was run by his son, misled ceased operations and the property was sold. The Court held, there is no ground for obligating the shareholder for the debt of the company to the lessees. […]
A notarized prenuptial agreement executed in anticipation of marriage is valid even if the marriage took place only after a few years
Notarial Prenups
Notarial Services
Domestic Relations
A couple signed a prenuptial agreement with a notary but got married only two and a half years later. The Court held that the financial agreement is valid even though two and a half years had passed between its execution and the marriage. A prenuptial agreement entered into before marriage can be verified by a […]
A bidder who does not take legal action as to a defect in the tender to enforce its winnings is not entitled to compensation for damage caused by such
Public Law, Environment and Tenders
Dispute Resolution
A tender participant contended that the winning bidder won based on a false affidavit, but its accusations were rejected by the tenders committee. In retrospect, it was discovered that these accusations were true and the losing bidder sought compensation from the tender publisher for the profit lost as a result of not winning the tender. […]
Failure to perform actions not included in the agreement may still be considered breach if required in order to perform the agreement in good faith
Real Estate
Commercial, Banking and Financial
Dispute Resolution
Sellers sought to terminate a land sale agreement, contending that the purchaser breached the agreement as she did not make the final payment, even though they refused to give the purchaser a power of attorney so that she would be able to handle the land betterment tax. The Court held that the sellers are the […]
A Best Effort Obligation – The Gap between the Reality and the Desired
Commercial, Banking and Financial
Real Estate
A landlord undertook to assist the tenant in obtaining a business license but later it became clear that zoning restrictions prevented the receipt of the business license and the tenant sought to be released from the contract. When does a commitment to assist become a commitment to achieve a result and when will liability attach […]
A foreign insolvency proceedings may be recognized in Israel if managed in the jurisdiction of center of business of the debtor
Business, Corporate and Joint Ventures
International Transactions and Dispute Resolution
Dispute Resolution
A receiver of an insolvency proceeding of a debtor in Russia moved that the proceeding be recognized in Israel, even though the debtor was discharged of debts in a proceeding held in England and the Court in England held that the center of business of the debtor is in England. The Court held that the […]
