Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeAn undertaking to transfer rights ‘one hour before my death’ constitutes an agreement regarding inheritance and therefore the laws of inheritance apply thereto
Wills and Estates
Intergenerational Law (Trusts, Estates, Lasting Powers of Attorney, Parenting)
Dispute Resolution
A person who undertook by an irrevocable undertaking in writing to transfer as a gift, one hour before his death, his rights in a farm, breached this undertaking and sold such to a third party. The Supreme Court held that the undertaking is void because it was not made in the framework of a will. […]
Not every relationship between a manufacturer and a distributor gives rise to a right to receive accounts.
Commercial, Banking and Financial
Dispute Resolution
An Israeli distributor received a letter of authorization from a Chinese manufacturer stating that it is the exclusive distributor for one of its communication products to the Israeli YES company. Later, a competing distributor marketed to YES a similar communication product of another model, also manufactured by the same manufacturer. . The court dismissed the […]
A shell company that has entered a conservation list may not be used to evade the obligation to publish a prospectus to the public
Capital Markets and Stock Exchange Regulations
Dispute Resolution
The Israeli Securities Authority declared a public company which business activity had ceased as a “shell company,” which led to its inclusion on the conservation list and that a purchaser who sought to include private activity in the remaining shell company would not be able to do so. The purchaser opposed the company’s inclusion on […]
“Time Is Money” is not always the moto – When the Israeli Clock Meets the Latin-American Pace
Latam – Spain – Israel Activities
“Soft landing” services in Israel
International Transactions and Disputes and Israeli “Soft Landing”
An article on conducting business between Israel and Latin American countries and the importance of using a law firm specializing in these relations. The article was written by Attorney David Melamed and Mr. Aiderson Gonzalez of the Ibero-American department of Afik & Co
A non-bank loan agreement may be rescinded where its full terms were not fully disclosed in writing to the borrower
Commercial, Banking and Financial
Dispute Resolution
A student enrolled in a college, where the tuition was paid in full directly to the college by a non-bank financing entity. After a period, the student terminated his studies and paid only five out of twelve loan repayments. The Court dismissed the lender’s claim and held that the student is exempt from repayment but […]
Failure to make pension contributions due to a ‘bonus’ component that is part of the salary may justify constructive dismissal
Labor Law and Immigration
Dispute Resolution
An employee who was employed as a salesman and whose salary consisted of a base salary and a “bonus” component resigned due to worsening conditions, as the employer contributed to a pension fund only from the base salary. The Labor Court accepted the claim and held that a ‘bonus’ which is a part of the […]
A guarantor to a lease contract must be informed of its extension and of breach as a condition for its validity
Real estate in Israel and around the world
Dispute Resolution
Tenants vacated a property after 11 years of rental. The original contract was signed for one year and was extended from time to time. The landlord demanded that the guarantors be charged for rent debts and damages caused to the property. The Court rejected the demand to obligate the guarantors. The Israeli Guarantee Law states […]
