Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeAn option agreement between sophisticated parties will be construed by its wording
Business, Corporate and Joint Ventures
Mergers and Acquisitions
Dispute Resolution
A company chairman of the board of directors received options, conditioned on him recruiting a buyer for the company operations. Later, an amendment to the agreement was executed in which the condition was linked only to the new benefits that were granted to him in addition to the first agreement. The Court held that the […]
Fraud and Regulator’s Fault
European Law and Regulations
Cryptocurrency, NFT and Web-3
An article on crypto scams, the regulator's responsibility and possible solutions. The article was written by Ella Rosenberg, a regulatory expert of Afik & Co.
The definition of the injection of money to company as “shareholders loan” or “investment” is reviewed by the substance and not the wording
Business, Corporate and Joint Ventures
Mergers and Acquisitions
Commercial, Banking and Financial
Two parties founded a company and each invested ILS 500,000 with any future investment agreed to be subject to a dilution mechanism. Once of the founders invested more funds in the company and contended that he gave excessive shareholders loans, which establish a right to indemnity from the other. The Court rejected the claim and […]
A bank that releases funds from an account in breach of a lien order as a result of negligence may pay damages
Commercial, Banking and Financial
Dispute Resolution
A bank released funds in the amount of approximately ILS 1 million from a customer’s bank account despite the existence of a lien order. As a result, the account was emptied of assets and the funds could not be recovered from the account. The Court held that the bank was negligent and responsible for the […]
In consumer agreements international jurisdiction clauses may not be honored by the Court in Israel
International Transactions and Dispute Resolution
Dispute Resolution
Two purchasers bought an asset in the Florida and in the purchase agreement it was set that “the parties agree that the terms of this agreement will be applied and interpreted in accordance with the laws of the United States and that all conflicts and disputes that may arise between them concerning this agreement and […]
Maritime insurance coverage applies until the goods reach the final destination stipulated in the bill of lading
Maritime, Aviation and Transportation Law
Dispute Resolution
A food importer imported goods via maritime shipping. In retrospect, it turned out that a chemical process had already begun with the mixture on the ship, even though it was only in the warehouse where the goods were stored after they were unloaded from the ship and before the land shipment began that the chemical […]
Using a melody without the composer’s consent may constitute a copyright infringement
Copyright, Trademarks Media and Artists
Dispute Resolution
A candidate in local elections in the city of Ariel played a praise song for himself during the election while using the melody of the song “Eliezer Ben Yehuda”, without any permission from the creator and composer Mati Caspi and without proper credit. The Court accepted the creator’s claim and held that he would be […]
