Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeThe war in Ukraine is a justified reason for issuing an urgent temporary injunction to prevent triggering of autonomous guarantees
International Transactions and Dispute Resolution
Commercial, Banking and Financial
Dispute Resolution
A municipal water corporation in the city of Kharkiv, Ukraine, demanded to execute payment of over ILS 31 million under autonomous guarantees given to it by an Israeli company after an agreement to carry out a water infrastructure project was canceled due to the ongoing war in Ukraine. The District Court granted the motion for […]
Failure to pay the consideration for an option will not cause the option to expire in the event that the company refused to exercise it
Business, Corporate and Joint Ventures
Capital Markets and Stock Exchange Regulations
Commercial, Banking and Financial
An investment firm entered into agreements with the controlling shareholders of a number of private companies under which it was granted options in the private companies. After the activity of the private companies was transferred to a corporation which IPOed on the London Stock Exchange, the investment firm sought to exercise the options, but the […]
A license for a generic product issued by an EU Agency may be considered hindrance to EU Competition law if granted to a single company
European Law and Regulations
Dispute Resolution
A medical distributor received a license from the European Medicines Agency (EMA) under the appropriate regulatory framework. A competitor petitioned the EMA for revocation of the license, as it contented that the grant of the license, although not exclusive, disrupts the fairness of the market within the economic union, due to the fact that the […]
Refraining from exercising independent discretion in voting by a director constitutes a breach of the fiduciary duty to the company
Business, Corporate and Joint Ventures
Dispute Resolution
A company which also serves as a general partner in a publicly traded partnership, stipulated in its shareholders agreement and in its articles of association, that one of the members of the board of directors, which also included external directors, shall have exclusive discretion in any decision regarding professional matters which are not financial. The […]
The contractor is late in delivering the apartment. What changed… / Yair Aloni, Adv.
Real Estate
An article on the compensation for late delivery of an apartment by a contractor and an amendment to the law of July, 2022. The article was written by Yair Aloni, Adv. of Afik & Co., lawyers and notaries.
Failure to transfer funds deducted from the employee’s salary to the pension fund due to negligence does not justify piercing the corporate veil
Labor Law and Immigration
Business, Corporate and Joint Ventures
Dispute Resolution
An employer failed to wire the required deductions that were made from the employee’s salary to the designated pension fund. The employee contended, inter alia, that the controlling shareholder and manager of the company is to pay the lacking deductions and be personally liable for the damage caused to him. The Labor Court partially accepted […]
The existence of a signed partnership agreement does not necessarily indicate the existence of partnership relations that constitute a de facto partnership
Domestic Relations
Business, Corporate and Joint Ventures
A brother demanded that his brother register him as a shareholder in companies he owned, contending that the two had a partnership relationship. This, despite the lack of a registered partnership and despite the fact that apart from an internal document signed between the two, the brother did not sign any official document related to […]
