Afik News 365 13.07.2022

A municipality engaged a law firm for legal services in the field of building and construction without a tender but after authorization from the relevant commissions in the municipality and after proposals from other firms were considered. The Court held that the engagement between the municipality and the law firm falls under the exemption for […]

Bonds holders of Israel Petrochemical Enterprises Ltd. demanded to enforce liens registered in their favor due to the precarious financial situation of the company. The Court accepted the motion. Although a company creditor has the responsibility to act in good faith towards other creditors, it may not be required to sacrifice its interests in favor […]

The Tenders Committee decided to ignore the score given by the subcommittee and changed it and by doing so also changed the identity of the winner of the tender. The Court revoked the decision of the Tenders Committee and held that the winner to be selected is in accordance with the recommendation of the subcommittee. […]

Keren Hayesod entered into an agreement with a company under which the company purchased rights in a real estate project. Subsequently to the execution of the agreement and before the sale transaction was finalized, one of the company’s shareholders recorded a cautionary note in favor of his family in a manner that prevented the company […]

Buyers purchased a house in its AS IS condition, but in retrospect it became clear that the house was suffering from a sealing problem and moisture defects. The Court held that the sellers must compensate the buyers for the hidden defects in the house. Israeli law stipulates that a seller has an increased obligation to […]

An article dealing with shareholders disputes and the authority of the Court to separate between the disputed parties. The article was written by Yair Aloni, Adv. of Afik & Co., lawyers and notaries