Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeAn employment agreement drafted solely by the employer will be interpreted under the Contra proferentem (interpretation against the draftsman) rule
Labor Law and Immigration
Dispute Resolution
An agreement between an employee and his employer, drafted by the employer, stipulated that if the employee’s employment is terminated by his employer in the first year, the employee will be entitled to a grant of ILS 30,000. The employee was terminated after 5 months. The Court held that the employer must pay the employee […]
Working from home – not just at Covid-19 times
Labor Law and Immigration
Privacy, GDPR, Confidentiality and protection of reputation
An article dealing with issues that arise from the fact that employees work from home. The article was written by Doron Afik, Esq. of Afik and Co.
Globes: Israeli co Maris-Tech completes Nasdaq IPO
Capital Markets and Stock Exchange Regulations
Globes, February 06, 2022, reporter Shiri Habib-Valdhorn, published an article titled "Israeli co Maris-Tech completes Nasdaq IPO", about the successful IPO of Maris-Tech Ltd., from Rehovot, Israel.
Maris-Tech (Nasdaq: MTEK), which provides solutions for processing and streaming video and audio at low latency, has successfully completed an IPO on Nasdaq through New York Underwriter Aegis Capital Corp.
The offering was accompanied by attorneys Doron Afik and Adi Marcus of Afik & Co. together with Sullivan & Worcester LLP.
In a gift agreement the examination of the contractual intent requirement must be more rigorous and at a higher level
Commercial, Banking and Financial
Real Estate
Dispute Resolution
An elderly woman transferred, without consideration, the rights to her apartment to a non-profit organization, but later sought to cancel the gift and receive back the rights in the apartment. The Court voided the gift transaction and returned the rights in the apartment to the elderly woman. A gift transaction, similar to a contract, is […]
When a contract drafted by sophisticated parties lacks to define a certain term the assumption is that the parties have waived it
Business, Corporate and Joint Ventures
Dispute Resolution
Company shareholders executed a founders agreement, under which a shareholder is prohibited from contacting entities represented by the company. However, the term “represented entities” was not defined in the agreement. After the departure from the company of one of the shareholders, he began to contact company customers and suppliers. The Court held that the former […]
Company organs – but not shareholders – may fight the initiation of insolvency proceedings against the company
Business, Corporate and Joint Ventures
Dispute Resolution
A company with a sole shareholder, who also serves as the company CEO, filed an application for revocation of an order stating that the company is insolvent and appointed it a trustee. The Supreme Court held that while a shareholder is barred from filing an appeal against an order to open insolvency proceedings, company organs […]
Unless written otherwise, a foreign jurisdiction clause applies also to company organs
International Transactions and Dispute Resolution
Business, Corporate and Joint Ventures
Dispute Resolution
A manager of a non-Israeli company refused to be party to proceedings opened in Israel against him due to an exclusive jurisdictional clause in the agreement with the company in which he is a manager, which stipulates that the Courts in Belgium will have the exclusive jurisdiction to hear any dispute arising from the agreement. […]
A holder of shares that does not report to the Companies Registrar that he holds shares in trust may be deemed the shareholder
Business, Corporate and Joint Ventures
Trusts
Dispute Resolution
Two shareholders sought to take a loan from the bank on behalf of the company, but the bank did not approve the loan because one of the shareholders had a “problematic” banking history. Thus, all the shares were transferred to the other shareholder. The court dismissed the claim of the shareholder who is not registered […]
