Afik & Co. marks the birth date of the Spanish economist, mathematician, politician and writer José María Waldo Echegaray y Eizaguirre (April 19, 1832 – September 14, 1916), Spanish Minister of Finance, founder of the Bank of Spain as the central bank, Nobel Prize for Literature laureate (together with Frédéric Mistral) in 1904, and the founder of the Royal Spanish Society of Mathematics in 1911 and its first president.

A company terminated an employee due to breach of trust and theft from the company and also refused to pay him the severance pay and advance notice fees. The Court held that the employee is not entitled to severance pay and prior notice payments due to the circumstances of the dismissal. An employer may deny […]

Shareholders of a company agree on the exit of one of them and because the company has cash, they also agree that the company will purchase his shares. The shareholders really like the idea but it turns out that the Tax Authority likes it even more because it deems it a taxable dividend to all […]

During a television broadcast, in response to racist remarks by Amir Hetsroni against the Moroccans in general and against another woman who was present on the show in particular, the woman called Amir Hetsroni a “racist” and a “fascist”. The Court held that under the circumstances the statements do not amount to defamation. Defamation is, […]

A company decided not to renew its contract with a distributor in light of the distributor’s problematic conduct which included poor service and unfair treatment of customers and the sale of products outside the distribution zone. The Court held that the contract was duly terminated. Generally, a contract is reviewed according to its wording, when […]

A company founder left the company after the other two founders prevented him from preforming his job as CTO and unduly terminated him from his position as a director. At a later stage, he was offered to return to the company but refused and demanded compensation for his shares. The Court held that, although the […]

A bidder was selected as the winner of a tender to perform road marking works, even though it was not registered in the contractors register and with contrary to the terms of the tender. The Court accepted the petition and annuled the decision due to the tender committee’s disregard of the terms of the tender. […]

Publication of an articles by Ms. Ella Rosenberg, regulation expert of the office of Afik & Co., as published on the FINANCEMAGNATES magazine