Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeEven if all international transactions documents were in Hebrew an Israeli Court may refuse to handle a dispute
International Transactions and Dispute Resolution
Dispute Resolution
An Israeli entrepreneur was surprised to discover that Israeli investors with whom he had conducted advanced negotiations for the joint purchase of real estate in Greece had purchased it themselves, contrary to their statements to him and the agreement between him and the Greek property owner. The Court accepted the investors’ motion to strike-out the […]
A contractor is not allowed to demand from apartment purchasers within the framework of the “Mehir Lamishtaken” program linkage differences contrary to the contract
Real Estate
Dispute Resolution
Purchasers of an apartment as part of the “Mehir Lamishtaken” governmental housing program were required to pay additional linkage differences in the amount of approximately ILS 15,000 as a precondition for receiving the apartment, after the contractor become aware that the base index specified in the contract with the purchasers is incorrect and does not […]
An Escrow in Real Estate – Let’s See You Prove that You Don’t Have a Sister…
Real Estate
Trusts
Intergenerational Law (Trusts, Estates, Lasting Powers of Attorney, Parenting)
What is the status of an intra-family settlement made orally many years ago in which it was agreed that real estate would be registered under the name of a family member who is not really the owner? For example: a brother decided to register land under his sister’s name, due to financial difficulties he was […]
In the absence of a written agreement a relator is not entitled to brokerage fee even when the client is a business
Real Estate
Dispute Resolution
Realtors sought to receive a brokerage fee for real estate brokerage services they provided to the Chinese embassy in purchasing of real estate, all despite the absence of a written brokerage fee agreement. The Court dismissed the relators claim due to the absence of a written brokerage fee agreement. A realtor will not be entitled […]
A minority shareholder will not be entitled to a veto if he lacks the skills to manage the company
Business, Corporate and Joint Ventures
Dispute Resolution
A shareholder in a company contended oppression by the other shareholders and demanded to have a right of veto in the board of directors in order to prevent its continuation and transfer all the powers of the board to him, even though he had never been involved in the company’s affairs and lacks to skills […]
When company management avoids filling a lawsuit for invalid reasons shareholders may sue on behalf of the company
Business, Corporate and Joint Ventures
Dispute Resolution
Shareholders in a public corporation sought disclosure of documents in order to consider filing a lawsuit on behalf of the company against the corporation’s management company, for the purpose of recovering the management fees. The Court accepted the motion and determined that in certain cases a shareholder may file a claim on behalf of the […]
A memorandum of understanding for the sale of a residential house that does not include essential details for the transaction shall not be enforced
Real Estate
Dispute Resolution
Parties signed a memorandum of understanding (MOU) for the sale of a luxury house in Caesarea, in the amount of ILS 11 million (in which there is many valuable items), subject to signing an agreement. An agreement was never signed and the potential purchasers demanded to enforce the MOU, which they contending to be a […]
