Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeOn Bitcoin, Fintech Companies and the Basic Right to a Bank Account
Cryptocurrency, NFT and Web-3
Commercial, Banking and Financial
An article about the right of a bank to refuse managing an account for a fintech company because of its fear of competition. The article was written by advocate Shelly Wilner of Afik & Co.
In order to enjoy legal protection for whistleblowers the employee is required to contact a competent body to handle the complaint
Labor Law and Immigration
Dispute Resolution
A terminated kitchen worker claimed he was entitled to protection as “exposing corruption” against the background of his repeated complaints regarding particularly high heat in the kitchen, which poses a health hazard. The Court rejected the employee’s claim regarding the prohibition of dismissal under the Corruption Whistleblowers Law. The law protects against harassment and persecution […]
A bank may not refuse to open or manage a bank account for a fintech company that operates under the Prohibition on Money Laundering Law
Commercial, Banking and Financial
Competition
Dispute Resolution
Leumi Bank refuse to continue the management of a bank account of a fintech company, contending that the company activity raises suspicion of money laundering. This is despite the fact that the company operated under a license and under the provisions of the Prohibition on Money Laundering Law. The Court held that the bank’s refusal […]
When after a merger the absorbed company ceases to exist agreements as to its shares that did not refer to a merger will cease to apply
Mergers and Acquisitions
Commercial, Banking and Financial
Business, Corporate and Joint Ventures
As part of the consideration in the sale of shares, it was agreed that if the purchaser realizes its holdings in the company in profit in accordance with the terms set forth in the agreement, the seller will be entitled to participate in the profit. Following the conclusion of the agreement, a merger transaction was […]
Cost of maintenance of parking multipliers that were removed from the common property is on the apartments to which they were attributed
Real Estate
Dispute Resolution
Tenants in a condominium who have been granted parking rights by parking multipliers demanded that the maintenance costs of the multipliers will fall on all tenants. The Court denied the motion and held that the multipliers are not part of the common property in the condominium. In condominiums there are only two types of areas, […]
Illegal use of the leased property enables eviction even if the lease agreement is silent on that matter
Commercial, Banking and Financial
Real Estate
Dispute Resolution
A lessee operated a hostel without a business license and was required to evict the leased property even though the lease agreement does not address this issue. The Court accepted the eviction claim and held that a lessor may demand the eviction of the lessee due to the lack of a business license even if […]
The common method for separation in a shareholder dispute due to loss of trust is through envelopes bidding between the parties
Business, Corporate and Joint Ventures
Dispute Resolution
Shareholders in a company that was establish for execution of an urban renewal project got into a conflict and demanded separation of powers due to loss of trust, but were unable to reach an agreements as to how the separation should be carried out. The Court held that the common method of separating forces in […]
