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August 4, 2016
Barnea & Co. Represented Stride Gaming PLC
Adv. Karin Kashi of Barnea represented Stride Gaming PLC, an online Bingo operator traded on AIM, London, in a major transaction recently. The Stride group acquired the assets and shares of Tarco Limited and Netboost Media Limited for consideration of up to GBP 40.2 million. GBP 22 million of the amount will be paid in accordance with the 2017 EBITDA of the acquired businesses.
August 3, 2016
Moshe Kahlon Proposes New Apartment Tax
Minister of Finance, Moshe Kahlon, is proposing the imposition of an annual tax of 1% of the value, starting January 2017, on owners of 3 apartments and more. Adv. Liat Keisary, Partner at Barnea, was interviewed by Globes and commented that owners will eventually find legitimate tax structures to mitigate this tax. Others that will not be able to save this tax will transfer the cost onto the shoulders of the tenants.
August 1, 2016
Cellect Biotechnology Completes NASDAQ IPO
In July 2016, Cellect Biotechnology announced that it had completed its NASDAQ IPO, raising USD 8.4 million. Cellect Biotechnology will be traded on NASDAQin parallel with its listing on the Tel Aviv Stock Exchange. Barnea represented a group of US underwriters, led by H.C. Wainwright, LLC, in the process of submitting Cellect Biotechnology's prospectus for the listing. Cellect Biotechnology develops innovative technologies in the stem cells sphere.
July 31, 2016
Agtech: Why Israel Makes Sense
If you think about fertile land for agricultural development, Israel probably doesnt immediately come to mind. But perhaps it should. Despite a desert climate and the relative youth of the country, Israels technological development has created a boom in agricultural innovation, with technology that helps farmers and companies develop healthier, higher-quality foods. With the challenges facing the worlds farming and crops markets, this tiny country provides a wealth of opportunity moving into the future of agriculture.
July 28, 2016
Barnea & Co. represents Maurice Haliwa
Adv. Zohar Lande and Adv. Yaacov Gershoni from the Litigation Department at Barnea are representing Maurice Haliwa, a shareholder in Manor A.D. Construction Investments Ltd. Mr. Haliwa filed a lawsuit against Jacky Ben-Zaken and Avraam Nanikashvili in the amount of NIS 18 million.
July 27, 2016
Reverse Vesting and Holdback – Good News for Entrepreneurs?
Earlier this month the Israel Tax Authority presented its position that the sale of equity by a founder should be treated as a capital gain and not income, irrespective of whether such shares had been subject to a Reverse Vesting mechanism and/or Holdback. A double edged sword for entrepreneurs.
July 26, 2016
Jerusalem Real Estate Scams and How to Avoid Them
Adv. Liat Keisary, Partner at Barnea, was interviewed by Ynet in connection with the Jerusalem real estate fraud involving the sale of apartments using false documents. Liat explained that the public should pay attention to any warning signs and carry out the process in a structured manner.
July 24, 2016
CySEC is stepping up enforcement of Israeli FOREX companies
The Cyprus Securities and Exchange Commission (CySEC) has begun to increase enforcement on Israeli companies operating in the field of FOREX and binary options and promote reform that could hamper their operations. Our Head of the Internet Department at Barnea, was interviewed by Calcalist on this issue. He remarked that Israeli companies operating in Cyprus are examining alternative places, such as Malta or Eastern European countries in the EU.
July 21, 2016
Barnea & Co. Was Selected to Work In Conjunction with the IDC Legal Clinic For Startups
Barnea was selected to work in conjunction with the IDC Legal Clinic for Startups in supporting law students and entrepreneurs from under represented sectors, in the 2016/2017 academic year.
July 21, 2016
Non Israelis - 10 Essential Tips When Purchasing Residential Property in Israel
Purchasing a residential property is generally one of the most profound, expensive and important decisions you make in your life. Even more so when purchasing a residential property in Israel. Following is a check list containing 10 most important tips on how to do it the right way.
July 17, 2016
Things You Need to Know About Fintech
Financial technology (“FinTech”) is a broad term that encompasses many kinds of technology across many industries. It includes hardware and software, apps and analytics, and solutions for companies of all sizes. Because FinTech plays a role in virtually every kind of company, it is worth taking the time to understand its position in the world economy.
July 13, 2016
"Made in Lod" Boot Camp
Barnea will participate today in the "Made in Lod" Boot camp. Made in Lod is a social enterprise, tech, and small business accelerator being directed by PresenTense and the Lod Young Adult Center. Adv. Yuval Lazi will discuss the common mistakes young startups make.
July 12, 2016
The Ministry of Construction and Housing allows foreign construction companies to operate in Israel for the first time
In March 2016 the government adopted the housing cabinet’s recommendations regarding criteria for allowing foreign construction companies to begin operating in Israel. This move is one of the government’s strategies for increasing the volume of residential construction in Israel.
July 7, 2016
Barnea represented Pharma Cosmetics Laboratories Ltd.
Our Litigation department represented Pharma Cosmetics Laboratories Ltd. (formerly HL Cosmetics Laboratories) in an IP claim against a beautician and her partner. The Rishon Lezion Magistrates Court recently awarded compensation in favor of Pharma and rejected the defendants' claim that the Copyright Act does not apply to the images and texts they copied from Pharma’s website.
July 6, 2016
Hedge Funds Do Not Need Regulation
An op-ed in The Marker by lawyers from our Capital Markets Department argues that the harm caused by applying the regulatory regime for hedge funds far outweights any potential benefit and may even lead to the collapse of the entire industry.
July 4, 2016
Interview on Nochi Dankner's Conviction for Securities Fraud
We were interviewed by several media outlets following Nochi Dankner's conviction for securities fraud. Dankner, who formerly controlled the IDB Group, was one of the most powerful figures in the Israeli economy. We noted that the verdict and the extensive media coverage surrounding it significantly contribute to the deterrent effect of the Israel Securities Authority and the prosecutor’s office.
June 30, 2016
Israel Tax Authority extends Voluntary Disclosure period
The Israeli Tax Authority (ITA) has announced this morning that the temporary Provision regarding the voluntary disclosure procedure which was supposed to expire today, has been extended until December 31st, 2016.
June 30, 2016
Proposal to Reconsider Israel Securities Authority's Activist Regulatory Model
An article on the proposal to reconsider the Israel Securities Authority's activist regulatory model for public companies, allowing them to enjoy wider business and legal maneuvering room.
June 29, 2016
4 Things Every Startup Entrepreneur Should Know
Forming a start-up begins with a great idea. This may be a product or a better way to do something, and it represents the seed from which your company grows. But planting the seed is just the first step. Moving from creating a company to running it as a CEO requires careful, diligent work in a number of areas. Your transition into leadership will often make the difference between your companys success and failure.
June 28, 2016
The Israel Tax Authority conducted an audit of short term landlords
Adv. Harel Perlmutter, Head of the Tax department at Barnea, was interviewed by Globes following the announcement by the Israel Tax Authority regarding tax audits of short term landlords. Harel explained that these landlords are liable not only for the payment of income tax, but also for the payment of VAT.