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May 30, 2023
Doing Business in Israel: Insolvency Law
Foreign companies looking to engage with Israeli companies also need to consider that Israeli insolvency law mandates jurisdiction in Israel and creditor equality, regardless of country of incorporation.
May 29, 2023
SEC vs. Philips: Expansion of Foreign Corrupt Practices Act
The SEC is expanding the application of US Foreign Corrupt Practices Act provisions. It is commencing law enforcement proceedings against non-American companies operating outside the United States and against actions that merely raise concerns of acts of corruption. Companies with international operations must familiarize themselves with the FCPA’s provisions and prepare accordingly.
May 28, 2023
Israel: Regulating Payment Services and Payment Initiation
New provisions set out the licensing framework for the provision of payment services, designed to encourage new players to enter the Israeli market and offer payment services while providing broad protection to consumers. The law will apply to companies providing payment services, credit service providers, acquirers, and more.
May 28, 2023
European Union v. Facebook: EUR 1.2B Privacy Infringement Fine
An EUR 1.2 billion fine was imposed on Meta after the EDPB ruled the company was systematically transferring the personal data of millions of Facebook users from the European Union to servers in the United States in violation of the European GDPR.
May 24, 2023
Lecture: Positions and Interests in the Event of Insolvency
Adv. Idan Miller is lecturing to a small business finance risk assessment course. The course is for credit coordinators and business bankers at Israel Discount Bank. The course was organized by the BDO Academy of Finance and the Israeli Institute of Finance (IFI).
May 21, 2023
Barnea: Advising Migdal on a USD 100 Million Investment
Roy Engel, Yana Zilbershtein, and Yakov Vilenski advised Migdal on a USD 100 million investment in the real estate investment fund Exeter Industrial Value Fund EQT.
More than 90% of the investors in the fund are American and international institutional entities, and Migdal is the only Israeli investor.
May 21, 2023
Cooperating May Credit Corporations with Leniency in Enforcement
Law enforcement authorities in the United States are adopting a policy of lenient law enforcement measures against corporations that cooperate during investigations, document their activities, and implement compliance programs. This policy also applies to Israeli companies operating in the United States.
May 18, 2023
Terry Almozlino Arnon Op-Ed: Supreme Court Rules to Invalidate Artificial Agreements
In a new ruling, the Supreme Court takes a step forward in declaring artificial agreements as invalid and illegal. (An artificial agreement is an agreement in which there is a discrepancy between the apparent agreements of the parties, as embodied in the contract, and their true will and intention.) Terry Almozlino Arnon, head of our firm’s Commercial Real Estate Department, sheds light on the subject in an op-ed for Globes.
May 17, 2023
Investment Advice and New Technologies: Amendment to Israeli Directive
In order to contend with the meager supply of investment advice or portfolio management services via technological interfaces, the Israel Securities Authority has published a proposed amendment to the directive focusing on two main services: trading signal services and social trading. Both of these services rely on digital media.
May 17, 2023
The Legal Risks of Using ChatGPT
The legal issues that follow the use of artificial intelligence-based processing solutions will continue to challenge in the years to come. Meanwhile, the main questions are related to intellectual property, privacy and reliability.
May 17, 2023
Representing CryptoHub in USD 6 Million Fundraising Round
Itay Gura and Inbar Katzir advised Cryptohub, which offers crypto trading tools and innovations to improve the average crypto trader's experience, throughout the course of a USD 6 million investment round. The round was led by Tectona, the only public company that focuses its activities on the adoption of blockchain technologies.
May 16, 2023
Earn-Outs – Ariella Dreyfuss Op-Ed for CTECH
CTECH by Calcalist has published an op-ed by Ariella Dreyfuss, a partner in our International Corporate Department. Ariella explains that earn-outs are becoming an established tool for compromising on a company’s valuation.
May 15, 2023
Conference: The High-Tech Employment World
We hosted members of the Association of Corporate Counsel (ACC) for the conference The High-Tech Employment World.
The conference focused on key issues in the Israeli high-tech employment market and included diverse lectures on such topics as non-competition clauses in employment agreements, the workforce as a critical element in the workplace, and more.
Among the speakers at the conference were Micky Barnea, our firm’s managing partner; Nani Maoz, the founder, chairman, and CEO of Everest; and firm lawyers Harel Perlmutter, Netta Bromberg, Inbar Gorelick, and Amos E. Rosenzweig.
May 14, 2023
Israel: Suing Monopolies for Setting Unfairly High Prices
The regulations grant several new rights to the relevant data subjects, when the database contains information transferred from the European Economic Area (EEA) to Israel, including the data subject’s right to delete information and a broader right of review.
May 14, 2023
Israel: Information Transferred from European Economic Area
The regulations grant several new rights to the relevant data subjects, when the database contains information transferred from the European Economic Area (EEA) to Israel, including the data subject’s right to delete information and a broader right of review.
May 10, 2023
Delay in Delivery of Apartment – Waiver of Claims Clauses
To ensure the agreed arrangement is appropriate and does not include a waiver of the buyer’s cogent rights under Israeli law, several principles should be taken into account, such as if the agreement reflects a reasonable assessment of the inherent risks in the event of disputes between the parties.
May 10, 2023
Material Transfer Agreements: Why They Matter
IP can be tangible, and MTA agreements are there to determine the terms and conditions of their transfer and usage.
May 9, 2023
Amendment to Israel’s Equal Pay Law – New Recommendations (2.0)
For employers that discover gender wage disparities in their organizations, the Equal Employment Opportunities Commission recommends taking action to appoint an implementation team comprised of both senior management representatives and employees, for the purpose of preparing a multi-year work plan to promote equal pay and reduce gender wage disparities.
May 9, 2023
Gal Rozent Lectures at Annual Competition Law Conference
Gal Rozent, the head of our firm’s Competition and Antitrust Department, was invited to lecture at Haifa University’s annual competition law conference. Senior officials from the competition field and attorneys from Israel’s leading law firms attended.
May 8, 2023
Regulating the Israeli Crypto Market – Dr. Zvi Gabbay Article in Calcalist
The Arrangements Law for 2023-2024 makes extensive reference to expanding and creating a regulatory infrastructure in the digital assets field. Specifically, the Israeli government refers to regulation in a number of different areas, including the cryptocurrencies market. Dr. Zvi Gabbay, head of our firm’s Capital Markets Department, elaborates on the subject in an article for Calcalist.