Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeA shareholders agreement obligates its party and not third parties
Business, Corporate and Joint Ventures
Copyright, Trademarks Media and Artists
Dispute Resolution
The founders of the Ethniks band, led by Ze’ev Nechama, established a company through which the band’s activities were carried out and signed a shareholders agreement that would regulate the band’s activities and their rights and obligations, as well as the management of future income from the band’s activities. After one of the band members […]
Waivers which signature upon was required as a condition for receiving partial compensation due to the contractor’s delay in handing over an apartment are not valid
Real Estate
Dispute Resolution
A contractor was late in tendering possession of apartments and conditioned the payment of partial compensation to the purchasers and the delivery of the apartment on signing a waiver in which the purchasers confirmed that they have no more claims against the contractor in connection with the delay. The Court held that the waivers are […]
The duty to update the details of shareholders is on the shareholders and not the company
Business, Corporate and Joint Ventures
Dispute Resolution
The Companies Registrar refused to allow a company to file an annual report and classified it as an infringing company due to an incorrect ID number of a shareholder who was registered with the company since 1960 and holds a deferred share and because a corporation liquidated in 1978 holds another 100 deferred shares and […]
Clear message of Labor Court to employees: Steal and Laundered Money!
Labor Law and Immigration
Dispute Resolution
An article on the issue of protecting the database of the business by proper employment agreements and the need for a labor law risk survey. The article was written by Doron Afik, Esq. of Afik & Co
A tenders committee may disqualify a bidder due to criminal suspicion even if the criminal case was suppressed
Public Law, Environment and Tenders
Dispute Resolution
The Ministry of Health’s Tenders Committee held that a bidder would be able to participate in future tenders unless subject to individual examination, following the presentation of an unauthentic document, and even though the criminal case was suppressed without filing an indictment against the bidder. The Court held that the tenders committee may condition the […]
It is not possible to summon an employee to a pre-dismissal hearing but concurrently announce his dismissal
Labor Law and Immigration
Dispute Resolution
An employee received a letter summoning him to a hearing but also states that the dismissal will take effect within 14 days. The Regional Labor Court accepted the employee’s claim and held that the employee was dismissed without a proper hearing and is entitled to compensation. The employee’s right to be heard before dismissal is […]
When a public company is on the “maintenance list” there is a duty of care of officers towards the minority shareholders
Capital Markets and Stock Exchange Regulations
Business, Corporate and Joint Ventures
Dispute Resolution
The Tel Aviv Stock Exchange transferred a company to the “maintenance list” after it did not meet the stock exchange’s bylaws for minimum public holdings, but returned it to the main list due to the actions of the company’s managers to increase public holdings. The company took actions to purchase shares from the public, followed […]
