Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeSale of a shareholder’s private asset for covering company debts shall not be deemed a cause for piercing the corporate veil
Business, Corporate and Joint Ventures
Dispute Resolution
A company owed money to service providers. The controlling shareholder of the company concealed from its creditors the fact that it was in cash flow difficulties, that it had lost its franchise and that it was facing insolvency proceedings. In addition, the controlling shareholder sold one of his assets to cover company debts. The Court […]
A gift agreement will be voided if the contracultural intent requirement has not been met, even if the transaction was completed
Real Estate
Dispute Resolution
Commercial, Banking and Financial
An elderly woman who signed contracts to transfer her rights in apartments as a gift to her daughter sought withdraw from it, even though the transfer of rights had been completed. The Court accepted the motion due to the lack of contractual intent on the part of the elderly woman. While, similar to a standard […]
The proposed Israeli Class Actions Law Amendment – Is it Relevant at All?
Commercial, Banking and Financial
An article on the Israeli legislator's attempt to stop the phenomenon of frivolous class claims and the question of whether the proposed amendment to the law can assist at all. The article was written by attorney Shelly Wilner of Afik & Co.
Publishing defamation out of a personal belief that it is true does not by itself absolve the publisher from liability
Privacy, GDPR, Confidentiality and protection of reputation
Dispute Resolution
A council member of a local authority published a post on Facebook in which he criticized an inspector in the local planning and construction committee, attributing to him a corrupt conduct, believing that he acted on behalf of political parties in order to file an indictment against him for construction irregularities he had carried out. […]
An intention to marry may be an indication to lack of a common law marriage status
Domestic Relations
Intergenerational Law (Trusts, Estates, Lasting Powers of Attorney, Parenting)
Dispute Resolution
Shortly before her wedding, the to be bride was killed in a car accident. The insurer refused to compensate the spouse. The Supreme Court accepted the insurer’s contention and held that the spouse is not entitled to a common-law spouse status. A condition for the recognition of common-law marriage is the couple’s intention to apply […]
A bank that uses customer documents as an “example” for use by others infringes upon the customer’s right to privacy
Commercial, Banking and Financial
Privacy, GDPR, Confidentiality and protection of reputation
Dispute Resolution
A bank took documents given to it by customers, which included their personal details, for their private needs and used them by handing them over to other customers in order for them to be used as sample documents in the procedure of assigning apartments to all kibbutz members as part of the mortgage procedure. The […]
A middleman is not entitled to commission for that part of the transaction made after expiry of the tail period of the middleman agreement
Commercial, Banking and Financial
Dispute Resolution
A seller in a transaction for a sale of a company refused to pay the middleman for exercising the purchaser’s unilateral option to purchase the remainder of the company’s shares, even though the terms of the option appeared in the purchase agreement concluded through the brokerage of the middleman, including because of the fact that […]
