
Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeAbsent a reasonable ground a bank is obligated to supply credit to a client
Commercial, Banking and Financial
Dispute Resolution
An elderly man, accompanied by his grandson, arrived at the bank branch where his account is held to apply for a bank guarantee. The bank denied his request and even canceled the credit card he had due to a lack of sufficient collateral, on the grounds that it was difficult to communicate with him and […]
Defects in a notarial will which derive from the notary’s conduct will not always negate its validity
Wills and Estates
Notarial wills and testaments
Intergenerational Law (Trusts, Estates, Lasting Powers of Attorney, Parenting)
A will was drafted by a notary who read it to the testator and authenticated by him but the notarial authentication noted that the testator read the will herself, it lacked a serial number, the will was not recorded in the notary’s record of wills, and the fee for drafting the will was not stated. […]
A shareholder may be a party to a company’s arbitration proceeding even if he is not a party to the arbitration agreement
Business, Corporate and Joint Ventures
Dispute Resolution
Owners of joint land and a company whose role is to manage the project and promote the interests of the partners of the land resorted to an arbitration procedure, by virtue of an arbitration clause in the management agreement. The owners demanded that the controlling shareholder of the management company be added to the arbitration […]
I Want to Control My Destiny – Lasting Power of Attorney for a Nursing Patient
Lasting Power of Attorney
Intergenerational Law (Trusts, Estates, Lasting Powers of Attorney, Parenting)
Notarial Services
An article on the ability of a dying patient to sign a lasting power of attorney and even a notarized will so that his wishes will be respected even when he loses consciousness. The article was written by Adv. Osnat Nitay of Afik & Co.
VAT liability for tips
Taxation and Government Incentives and Funding
On January 1, 2025, the Israeli Tax Authority published a clarification (https://www.gov.il/he/pages/pa010125-3) that transactions executed as of March 31, 2025, the Authority will begin enforcing its position, published on July 25, 2024, that tips given to service providers (e.g., waiters in restaurants) are subject to VAT. Please note that on February 28, 2024, an order […]
In case an escrow agent is not paid it may sometimes terminate the escrow and deem the escrowed asset its own
Trusts
Intergenerational Law (Trusts, Estates, Lasting Powers of Attorney, Parenting)
Dispute Resolution
A shareholder in a company had a right of first refusal to purchase shares in the company. Parties who sought to exploit this right entered into an escrow agreement under which the shareholder would purchase shares in the company for them and they would pay her the shares price and bear the associated costs. However, […]
A partner is liable for the partnership debts even is ceased to be a partner
Business, Corporate and Joint Ventures
Dispute Resolution
A person filed a claim against a partnership for misrepresentation in negotiations for an agreement for a franchise and the sale of a coffee shop, after it became clear that a business license could not be obtained. At some point, the partners sold their share in the partnership to a third party. The Court held […]
A situation in which the testator was competent and the will reflects its will shall not be defined as being under improper influence
Wills and Estates
Intergenerational Law (Trusts, Estates, Lasting Powers of Attorney, Parenting)
Dispute Resolution
Upon a woman’s demise some of her children objected to the probate of the will which bequeathed her money to one child only, contending improper influence due to involvement of the heir in the preparation of the will, the language of which was not fluent by the mother, as well as the creation of total […]
In case of breach of fiduciary duty and causing damage the activity of a director may be limited even in a “quasi-partnership” company
Business, Corporate and Joint Ventures
High-Tech and Technology
Dispute Resolution
In a fintech company held by two shareholders who also serve as its directors, a deep dispute has arisen between the shareholders. The parties did not reach an agreement on a separation mechanism, but in the meantime, the lack of cooperation has paralyzed the board of directors to the point that one of the shareholders […]