
Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
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Business, Corporate and Joint Ventures
An article on the requirement on electronic filing with the Israeli Companies Registrar as of June 26, 2024, and the importance of a proper corporate secretariat, to duly hold corporate ledgers and all documents and agreements (as well as verifying that they are duly signed and are binding), and not only report the annual report to the Companies Registrar. The article was written by attorney Doron Afik of Afik & Co.
Preferred Technological Enterprise – The Tax Benefits and the Conditions for Receiving Such / Adv. (CPA) Guy Chen, CPA Yaakov David
Taxation and Government Incentives and Funding
Background The Israeli Capital Investments Encouragement Law 1959 (“Law“), was enacted with the aim of encouraging capital investments and economic initiatives in such a manner that priority will be given to technological innovation through various tax benefits. Commencing 2017, following amendment 73 to the Law[1], substantial tax benefits are granted to companies that own a […]
Actions of an agent will not obligate its principal when the other party should have known that it was carried in deviation from authority
Commercial, Banking and Financial
Dispute Resolution
Borrowers who entered into a loan agreement were surprised to discover that the agent appointed by them to sign the agreement, which had already been drawn up with the lender, signed additional annexes without their approval, in which, in addition to the consideration stipulated in the agreement, a transfer of rights in many properties was […]
Changing an agreement by behavior requires the same contractual agreement as concluding a new agreement
Commercial, Banking and Financial
Dispute Resolution
Parties entered into a contract, for the provision of a bank guarantee for several years in exchange for a monthly consideration for the entire period of the guarantee. The contract also stipulates that it will end upon the return of the guarantee. Prior to the expiration of the guarantee, the parties extended the period of […]
A local authority that received government funds for the performance of a supplier’s activity and pocketed it will pay the supplier
Privacy, GDPR, Confidentiality and protection of reputation
Public Law, Environment and Tenders
Dispute Resolution
A local authority reneged on its obligations towards a supplier, which provided services and equipment in the field of implementing educational enrichment programs in schools between the years 2017 – 2019 without a written contract duly signed by the authorized signatories, including the Ministry of the Interior appointed accompanying accountant. Support funds received by the […]
When examining the question of oppression of a shareholder in a company, the conduct of the party contending oppression will also be reviewed
Business, Corporate and Joint Ventures
Dispute Resolution
A private company has not held board meetings or sent reports to its shareholders for over a decade. The Court rejected the minority shareholders’ contention for oppression in light of the lack of harm to their legitimate expectations to participate in the management. A conduct will be classified as ‘shareholders oppression’ if it harms the […]
A joint right is created when there is an integration between the original product of the customer and the joint work product
Privacy, GDPR, Confidentiality and protection of reputation
Dispute Resolution
A company that provided services to the State of Israel contended that the State infringed upon its copyrights in the products that are deemed its intellectual property, after the end of the term of the agreement. The Court rejected the claim and determined that no copyright was breached. In order for a work to be […]
The limits of freedom of expression are wider in reference to criticism directed at a public figure, than at a private person
Privacy, GDPR, Confidentiality and protection of reputation
Dispute Resolution
The mayor of Ramla filed a lawsuit against several of the city’s residents for posts that were published on Facebook and which allegedly constitute defamation. The Court rejected the lawsuit and determined that the residents have the defense of voicing the truth. A post on social networks can constitute a publication for the purpose of […]
A security check which details were completed after a decade from the date the check was handed will not be honored
Commercial, Banking and Financial
Dispute Resolution
A lender was given a check to secure a loan. The lender completed the date on the check and attempted to cash it approximately 10 years after the check was handed and approximately 7 years after the loan was defaulted but the check bounced due to the closing of the account from which it was […]