Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeWhen the value of the collateral exceeds the loan amount a company is not obligated to report to investors that the loan has not been repaid
Capital Markets and Stock Exchange Regulations
Dispute Resolution
The Israeli Securities Authority contended that a listed company breached its reporting obligation because it did not report to the public a breach of a loan agreement to a third party, where interest on the loan was not paid and it also did not repay another small loan given to it. However, the agreement included […]
A claim by the condo association cannot demand compensation for emotional distress
Real estate in Israel and around the world
Dispute Resolution
A condo association of a condominium in Ramat Gan demanded, inter alia, that the contracting company repair construction defects discovered in the condominium systems and compensate the residents for emotional distress. The Court accepted the claim and ordered the contracting company to repair the deficiencies, but compensation for emotional distress was denied because the claimant […]
For checking work discrimination different jobs are not necessarily of equal value, even if the consideration paid for them is equal
Labor Law and Immigration
Dispute Resolution
While orderlies and operating room cleaners (EVS) are paid equally for regular shifts, in shifts marked as “queues shortening shifts” there are significant gaps between the high wages paid to the orderlies (all of whom are men) and the low wages paid to the cleaners (the vast majority of whom are women). The Labor Court […]
When shares have not been allocated, the damage caused is the value of the shares at the time of the non-allocation, even if the company subsequently collapsed
Business, Corporate and Joint Ventures
Commercial, Banking and Financial
Dispute Resolution
Restaurant owners quarreled with the restaurant’s chef, and as a result, shares promised to him under a share allocation agreement in the company managing the activity were not allocated. The company collapsed, so the chef demanded the salary he would have received for his work if he had agreed to accept shares instead of salary. […]
A chain who is aware of an issue to retrieve a business license for a complex is obligated to notify about this the franchisee in advance
Commercial, Banking and Financial
Dispute Resolution
A franchisee paid a franchise fee to operate a coffee shop branch in premises provided to him by the chain. The franchisee was forced to close the business after being convicted of operating a business without a license. It was discovered that obtaining a business license for the premises was impossible due to planning restrictions, […]
When no brokerage fee has been determined, the amount of the fee shall be determined based on industry standard
Commercial, Banking and Financial
Dispute Resolution
A person provided brokerage services to another as part of a transaction to sell shares, but the parties did not agree on the brokerage commission rate, only that it would not exceed ILS 1 million. The Court held that the broker is entitled to a commission of 1% of the transaction amount. A right to […]
Israel’s AI Opportunities in Latin America’s Smart Cities Versus Legal Risks
Latam – Spain – Israel Activities
Copyright, Trademarks Media and Artists
Privacy, GDPR, Confidentiality and protection of reputation
An article on the subject of working in the field of AI in Latin American countries and the importance of support from a law firm with expertise in working in these countries. The article was written by Attorney David Melamed of Afik & Co.
A global corporation with activity in Israel is expected in the event of a dispute to litigate in Israel even if a jurisdiction and foreign law clause exists
High-Tech and Technology
International Transactions and Disputes and Israeli “Soft Landing”
Dispute Resolution
Israeli customers filed in Israel a motion for a class action against the LinkedIn company, contending that it automatically renews paid subscriptions in violation of the Israeli Consumer Protection Law, despite the fact that under the LinkedIn terms of use in the event of a dispute, laws of the state of California, U.S.A, shall exclusively […]
