Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeCompany directors who are not shareholders can not be held liable for company debts to its employees by way of piercing the corporate veil
Labor Law and Immigration
Business, Corporate and Joint Ventures
Dispute Resolution
Ramallah based employees of an American start-up company that was liquidated in the United States of America sought to obligate two Israeli directors of the company, who managed a venture capital fund that was one of the company shareholders and were thus appointed directors, to personally pay social benefits due to them. The Labor Court […]
A shareholder cannot contend personal damage if another shareholder also suffered damage and it is not a specific damage caused only to him
Business, Corporate and Joint Ventures
Dispute Resolution
One of two shareholders in a company contended to have suffered personal damage due to the other shareholder entering into agreements with the company which were made behind his back and without his knowledge and that he never received the consideration for them. The Court rejected the claim and held that the damage caused is […]
A lessor may terminate an agreement even if lack of payment is due to the Covid19 epidemic
Real Estate
Dispute Resolution
A lease agreement for rent an event hall was terminated after the lessee did not pay rent for months and accumulated a debt of hundreds of thousands of shekels. The Lessee refused to make payments to circumstances related to the Covid19 epidemic. The Court decided that the lease agreement may be terminated and the lessee […]
In the absence of a written agreement system the financial conduct and economic interest of the parties will be examined
Mergers and Acquisitions
Business, Corporate and Joint Ventures
Dispute Resolution
Investors transferred sums of money to company owners, based on acquaintance and prior friendship between the parties, for the purpose of the company’s activities. The investors contended that the funds were transferred as a loan which the shareholders of the company are required to repay, while the shareholders contended that the funds constitute a business […]
The EU and its Laws- Integration of Financial Institutions
European Law and Regulations
An article on the issue of the July 2022 EU anti-money laundering regulations and their effect on business owners and office holders, not only in Europe. The article was written by the regulatory advisor Ella Rosenberg of Afik & Co., Attorneys and Notaries.
Cancelling a European merger goes against EU competition laws if there is no risk of market concentration
European Law and Regulations
Competition
Two companies with material market share in the field of genetic screening merged into a single entity. The EU Concentration Commission received a complaint from a third party that the merger is hindering EU Competition law and sought to cancel the merger. The Court held that the merger should not be cancelled although both companies […]
The fact that a company presented a person as its employee to third parties does not necessarily indicate the existence of an employment relationship
Labor Law and Immigration
Dispute Resolution
A distributer who worked with a company while being granted freedom to manage the business, contended that he was an employee of the company because he was at times presented by the company to third parties as such and demanded that social rights be paid to him by virtue of a working relationship between the […]
