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August 13, 2023
Barnea: Representing Bareket in NIS 20 Million Lawsuit
Shai Avnieli and Omer Ungar are representing Bareket in a lawsuit the construction company Longshine has filed against it. Longshine, which served as the main contractor in a project initiated by Bareket, was nine months late in delivery of the project. As a result, Bareket deducted approximately NIS 10 million from the construction account.
August 10, 2023
Incorporation of a Company in a Foreign Country: What Should Be Taken into Account?
In an interview with Calcalist, Ken Shaked advises on the primary considerations for when a company decides where to incorporate, applicable law for companies that choose to incorporate abroad, related costs, and the tax considerations companies should seriously mull over.
August 9, 2023
Crypto: PayPal Launches USD-Based Stablecoin
As an expert in the field, Globes interviewed Dr. Zvi Gabbay, the head of our firm’s Capital Markets Department, on PayPal’s decision to launch a stablecoin backed by the US dollar.
August 9, 2023
Law.com: Israel's Legal Community Braces for Impact of Government's Judicial Overhaul
In light of the Israeli government’s proposed reform to the judicial system, Law.com, an industry-leading media platform, spoke with key figures in the Israeli business and legal community to understand the potential effects of these changes on the practice of law. Micky Barnea, our firm’s managing partner, was invited to share his insights. To read the full article and Micky’s interview, please click here.
August 8, 2023
Barnea: Representing Client in NIS 11 Million Lawsuit
Our firm is representing Adi Nahum, a partner in the Contempo real estate group, and several companies owned by him, in an NIS 11 million claim for monetary relief and other remedies, including the removal of minority oppression and a declaratory judgment of ownership rights in companies in Contempo against the company's owner, Shahar Raz, and other companies in the group. Contempo oversees dozens of urban renewal projects in sought-after neighborhoods in central Tel Aviv, Givatayim, Givat Shmuel, Ra’anana, Bat Yam, and Ramat Hasharon.
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.