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August 7, 2023
Israeli Regulations Restrict Enrollees in Managers’ Insurance Plans
As of September 2023, employees will be able to enroll in managers’ insurance plans only if their salaries exceed twice the average wage in Israel, in order to ensure they receive adequate pensions.
August 7, 2023
Barnea: Advising Anise on Corporate Recovery Plan
Idan Miller and Liron Dahan are advising Anise on a corporate recovery plan, after the natural products chain fell into an approximately ILS 22.9 million debt. As part of this process, our firm submitted a request to the district court to appoint a trustee and approve a debt arrangement. Anise’s debts accumulated due to branch expansion and an increase in interest rates. The chain is now working to implement its all-encompassing corporate recovery plan, which includes closing unprofitable branches, closing a packaging plant in Kiryat Anavim, improving efficiency, and further reductions.
August 6, 2023
Crypto as a Security – Applying the Howey Test
Regulation by enforcement is designing tests to ascertain which cryptographic assets fall under the definition of “security” in the wake of the XRP crypto token court ruling.
August 6, 2023
Stock Market Skeletons: How to Properly Execute a Merger
Hagit Ross, a partner in our firm’s Capital Markets Department, was interviewed by TheMarker on the phenomenon of companies going public via mergers with stock market skeletons.
August 2, 2023
Merging without Approval: Strauss Group Might Pay ILS 111 million
According to the Competition Authority’s Director General, the negative covenants included in the merger agreement between Strauss Group and Wyler Farm raise concerns of harm to competition, and the parties began implementing the merger before receiving approval.
July 31, 2023
Capital Markets: The Dangers of Misleading Stock Market Filings
Elad Reshtick’s op-ed in TheMarker examines the dangers of companies disclosing marketing and sales updates in the guise of stock market filings, in order to attract investors.
July 30, 2023
Amendments to the Israeli Succession Law
Amendments to the Israeli Succession Law have recently come into effect that expand the authority of the Succession Registrar, reduce the number of matters transferred to the Family Court, and limit instances of the Custodian General’s supervision over estate executors.
July 26, 2023
Artificial Intelligence in the Office: How to Do It Right
Advs. Netta Bromberg and Dr. Avishay Klein were interviewed by Yedioth Ahronoth and gave tips to employers regarding the correct use of artificial intelligence in workplaces.
July 26, 2023
Companies without a Control Core – Draft Bills Calls for Changes
The number of companies with a decentralized ownership structure, i.e., with no controlling shareholder, has been rising in recent years, as has their share of the capital traded on the Tel Aviv Stock Exchange. The recently proposed amendment to the Israeli Companies Law aims to revise the corporate governance regulations specifically applicable to such companies.
July 25, 2023
Employees’ Rights in Israel during At-Risk Pregnancies
Sick days, a social security benefit, or a disability pension from the pension fund? Employees have several options for receiving wages during at-risk pregnancies when they are unable to work, each of which has its own advantages and disadvantages.
July 25, 2023
AI in the Workplace – Benefits and Risks
AI technologies have enormous potential. However, using AI technologies in the workplace may result in a variety of exposures. It is important to understand how best to use AI, as well as when never to use it.
July 23, 2023
New EU-US Data Privacy Framework (DPF)
The new arrangement for transferring information about EU citizens to the United States offers European and foreign companies a simpler mechanism to enable their privacy protection procedures to be recognized as GDPR-compliant.
July 20, 2023
Dr. Zvi Gabbay Interview with Tony Petrov on Future of Crypto
Dr. Zvi Gabbay, the head of our Capital Markets Department, was interviewed by Tony Petrov, the chief legal officer at Sumsub. The two discussed financial regulation, the crypto industry, and jurisdictional settings. Topics also included FTX’s collapse, the SEC charges against Coinbase, and the future of crypto regulation.
July 18, 2023
The Profit Test for Dividend Distribution – Israeli Supreme Court Ruling
In a precedential ruling, the Supreme Court stated that the profit test for dividend distribution only includes an examination of the financial statements from the last two years. According to the ruling, there is no room to take into account information regarding an expected loss that has not yet appeared in the reports.
July 17, 2023
Barnea: Representing 120 Apartment Owners in Pinui-Binui Project against Three Recalcitrant Owners
Lawyers from our firm’s Real Estate Department, are advising apartment owners in a residential complex designated for pinui-binui in Herzliya. They represented a group of about 120 apartment owners in court against three recalcitrant owners who are objecting to the project due to their demand for higher recompense from the contractor. The court made the extraordinary decision to order the recalcitrant owners to pay NIS 7.8 million in compensation (NIS 2.6 million apiece). In addition, each recalcitrant owner was ordered to pay NIS 20,000 for legal expenses.
July 15, 2023
Representing Aviv Group in ILS 1.1 Billion Financing Agreement
Terry Almozlino Arnon, Alon Wolner, and Nadav Shoshan represented Aviv Group in a financing agreement for the purchase of land for the construction of 733 housing units in Herzliya. The scope of the financing agreement is over NIS 1.1 billion.
July 12, 2023
Barnea: Representing Phoenix Mortgages (Gold) Ltd. in Framework Agreement for Older Kibbutz Members
Our firm represented Phoenix Mortgages (Gold) Ltd. in signing a framework agreement with the Kama Fund (from the Kibbutz Movement). As part of the agreement, Kama will provide a guarantee to Phoenix for the “gold loans” it grants to kibbutz members over the age of 60 for purchasing housing in kibbutzim. A gold loan can be repaid even after the borrower’s life expectancy and is secured by encumbering the borrower's rights in the residential property attributed to it. Hagit Ben Moshe, the head of our firm’s kibbutz sector practice, and Hani Shraier represented Phoenix.
July 11, 2023
California: Class Action against ChatGPT for Breach of Privacy
Who is responsible for protecting the privacy of the information AI technologies collect? A new class action in California joins a series of AI-related lawsuits that may clarify this question.
July 11, 2023
Barnea: Hosting Global Femtech Accelerator
We were happy to host the global femtech accelerator Tech4Eva for an event at our offices. As part of the event, doctors and entrepreneurs discussed menopause and the need for innovation in increasing awareness and educating physicians and patients. Inbar Gorelick represented the firm at the event and participated in one of the featured panels.
July 10, 2023
Barnea: Representing Bash Gal Sport in Acquisition of Energym
Misha Gitterman and Omri Oren represented Bash Gal Sport of Movement – The Wellness Company, Israel’s leading wellness group, in the acquisition of Energym, a fitness equipment importer, for NIS 30 million