Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeA party to a contract that has not done everything in its power to bring about the fulfillment of a condition precedent cannot rely on its non-fulfillment
Commercial, Banking and Financial
Dispute Resolution
In a transaction for the purchase of shares, it was agreed that the guarantees provided by the seller for the repayment of loans from various banks would be transferred to the names of the purchasers. The purchasers divided the guarantees between them, but one of the banks refused to replace the existing with a single […]
Entities operating in different countries assume the risk of being sued in foreign countries in which they operate
International Transactions and Dispute Resolution
Cryptocurrency, NFT and Web-3
Dispute Resolution
Investors entered into an agreement with a crypto entrepreneur for the purpose of establishing a solar farm for crypto mining in the USA and issuing a digital currency through a Gibraltarian company. After the entrepreneur emptied the company of its assets, the investors turned to the Israeli Court for compensation. The Court held that the […]
Business conduct in the framework of limited liability companies may deny the right to remedy of provision of accounts which is relevant to a partnership
Business, Corporate and Joint Ventures
Dispute Resolution
Shareholders established a branched corporate structure of limited liability companies for the purpose of providing personnel services, while committing criminal offenses of fraud and money laundering. At the end of the criminal proceeding, one of them moved the Court, inter alia, for relief of dissolution of the ‘partnership’ and an order for the provision of […]
A company filing a claim will usually be required to deposit a guarantee for the expenses of the defendant
Business, Corporate and Joint Ventures
Dispute Resolution
An Israeli company provided commercial services to a foreign public company traded on the London Stock Exchange, which is currently engaged, among other things, in developing technologies related to the diamond online trading scene, as well as a software provider for projects related to the blockchain worlds. The company demanded a commission for fundraising carried […]
A confession in the context of a telephone conversation will not constitute a confession that resets the statute of limitations
Dispute Resolution
A person admitted the existence of a debt in a phone call that was recorded. Following this admission, a lawsuit was filed even though the statute of limitations had lapsed. The Supreme Court found that the phone call is not sufficient to reset the statute of limitation. Under Israeli law, one cannot normally file a […]
About Avocados and Business between Latin-America and Israel
Latam – Spain – Israel Activities
International Transactions and Dispute Resolution
An article on the importance of using lawyers with expertise in working at the interface between Israel and Latin America when working in these countries. The article was written by Doron Afik and Mr. Aiderson Gonzaez of Afik & Co.
One who works against a tax receipt and not a pay-slip may still be deemed an employee
Labor Law and Immigration
Dispute Resolution
A music editor and radio program broadcaster sought to be recognized as an employee of a regional radio station and to be paid his rights despite the fact that worked against tax receipts. The Labor Court accepted the claim and held that employee-employer relationship existed. The test for identifying employment relationship is a mixed test […]
When the parties have business knowledge, af memorandum of understanding can constitute a binding agreement insofar as it is clearly worded
Commercial, Banking and Financial
Dispute Resolution
Two companies negotiated the lease of a property and signed a memorandum of understanding. After the negotiations were not perfected into a detailed agreement, the tenant contended that the memorandum of understanding constitutes a binding agreement for all intents and purposes. The Court held that the memorandum of understanding in this case does not constitute […]
The Court’s auxiliary powers regarding arbitration are contingent on the existence of an arbitration agreement and not on the actual conduct of an arbitration proceeding
Dispute Resolution
A party to an arbitration agreement moved the Court for interim relief, despite the fact that no arbitration proceedings actually took place. The Supreme Court held that temporary relief may be granted even in the absence of an actual arbitration proceeding. Israeli Arbitration Law grants the Court the authority to grant a variety of remedies, […]
