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November 17, 2021
Everything to Know about the Purchase Tax Hike on Israeli Real Estate Investors
Earlier this month, the Israeli Ministry of Finance approved the outline for a hike to the purchase tax imposed on real estate investors, once again, to tax brackets of 8% and 10%. The Ministry of Finance has since updated that the purchase tax hike will take effect on Sunday, November 28. The ministry’s goal with this move is to “dissuade” investors from purchasing investment apartments and lower the demands in the residential housing market.
November 15, 2021
Extradition and Prosecution of Israelis by Foreign Courts
In recent weeks, numerous news articles have reported on the arrests of Israeli citizens resulting from foreign investigations conducted abroad. In one instance, more than 20 employees of a Tel Aviv based company engaging in forex investment marketing were arrested following an FBI investigation.
November 15, 2021
Interview on Workers' Rights in SPAC Issuances
Gett announced last week a USD 1.1 billion merger with an SPAC. This prompted unrest among former Gett employees who feared a dilution of their shares. We were interviewed by TheMarker about workers' rights during issuances and SPAC processes.
November 11, 2021
Barnea Represents Inomize in Transaction with Facebook (Meta)
We advised Inomize, an Israeli developer and manufacturer of electronic components, on its acquisition by Facebook through the transfer of Inomize's employees' know-how and expertise. Adv. Ariella Dreyfuss led the transaction, with Adv. Netta Bromberg and Adv. Jacki Silbermann advising on employment matters.
November 10, 2021
Barnea Represents Sephira in Sale of Shares to DL Software Group
Barnea represented Sephira, a French-Israeli group of companies and a leading provider of software solutions for healthcare professionals, in the sale of its holdings to DL Software Group, recently acquired by the US private equity fund TA Associates. The transaction was led by Adv. Samuel Henry Samuel and Adv. Avihay Asulin. Adv. Netta Bromberg advised on all employment law matters, while Adv. Harel Perlmutter and Adv. Nir Ziman advised on all tax matters.
November 9, 2021
Much More than 66% – Must-Know Changes in the Urban Renewal Field
After years of expectations, the government has approved the legislative amendments needed to promote “Urban Renewal” projects in Israel. While everyone is talking about the amendment lowering the threshold of consent for apartment owners to 66%, a lot more has also changed. All of the amendments, both major and minor, are important.
November 3, 2021
Do You Own a Database? You’re Also Responsible for Actions Performed by Third Parties
The Black Shadow hacking group’s attack on Cyberserve, reported a few days ago, has resulted (at this point in time) in the leaking of a database with more than 800,000 records pertaining to various individuals and the exposure of additional databases. This attack raises important questions about the relations between database owners and the third parties with whom they engage to receive various services relating to business activities that incidentally involve their data.
October 31, 2021
Websites Roll Out November Deals – Tips for Safer Shopping Online
November brings with it a variety of online shopping deals and promotions. Before making a purchase, it is important to know which products are tax-exempt, which sites to buy from, and what warning lights should not be ignored. Adv. Karin Kashi, coordinator of our firm’s privacy practice, addresses the issue in an interview with Ynet.
October 28, 2021
How Can China’s New Privacy Protection Law Affect Your Business?
On November 1, 2021, the new Chinese Personal Information Protection Law (PIPL) will come into effect. This law is modeled after the well-known European General Data Protection Regulation (GDPR).
Like the GDPR, the PIPL will apply not only to Chinese organizations, but also to any organization processing the personal information of people located in China.
Therefore, any organization that collects data from China must comply with this new law or risk suffering the consequences.
October 26, 2021
Easing of Conditions for NGOs and PBCs to Engage with Israeli State Institutions
Up until today, pursuant to an Israeli government resolution dating back to 2001, NPOs (such as Amutot and public-benefit companies) that did not possess a certificate of proper management could not engage with government entities.
A certificate of proper management is a certificate issued to Amutot and PBCs by the Registrar of Amutot and Endowments after receiving an organization’s annual report (in conformity with the statutory requirements and the registrar’s instructions). It is valid for one year (or for two years, for Amutot and PBCs that fulfill particular criteria).
October 25, 2021
Bar-Ilan University Law and Environment Club: Ethical Consumerism and Sustainable Fashion
As part of the inaugural event of Bar-Ilan University’s Law and Environment Club, Adv. Sagi Gross will deliver opening remarks on the importance of law and the environment. His speech will touch on developments and changes in recent years.
October 24, 2021
2021 Snapshot: The Impact of Covid-19 on the Israeli Economy
The advent of COVID-19 has brought a challenge to the stability of the economy of every country in the world. Fortunately, and unlike the situation in many countries, Israel’s economy grew by 15.4% on an annualized basis in the second quarter of 2021, and by 5.3% in entire first half of the year. The second quarter, of course, brought the bulk of the growth, exceeding that of Belgium, Canada, and the US among others.
October 20, 2021
Double the Trouble: What Happens When a Class Action Lawsuit tries to "Piggyback" off Another?
Many class action proceedings end in settlement. The settlement agreement is designed, inter alia, to facilitate an efficient and fair resolution to the proceeding, in a manner that also provides certainty to the parties. Essentially, it "takes on the risk" for all parties involved—the class action plaintiffs and their legal representation, the class, and the defendants. Settlement certification by the court constitutes res judicata, and ensures the preclusion of repeated claims regarding the subject of the settlement.
October 17, 2021
Interview with Adv. Micky Barnea: Kibbutz Industry Closes Two Years of Successful Exits
In the last six months, the kibbutz industry has signed ten significant deals for hundreds of millions of dollars. How and when did the kibbutz industry become so attractive? What happened in the last decade that caused this explosion in the kibbutz industry and is this a temporary phenomenon? A Globes article on the subject features interviews with several experts in the field, including Adv. Micky Barnea.
October 14, 2021
Adv. Netta Bromberg Attends Dun’s 100 Labor Law Forum
The Dun's 100 forum for employment law experts convened yesterday to discuss key issues on the professional agenda, including sexual harassment, the medical interns' protest, and the competition for high-tech talent. Adv. Netta Bromberg, head of our Employment Department, participated in the forum alongside other senior practitioners in the field.
October 14, 2021
Barnea Represents ISI in Petition Against Israeli Ministry of Health
We represented Israel Scientific Instruments Ltd. (ISI) in a petition filed with the Jerusalem District Court against the Ministry of Health and others, alleging that the Ministry's tender for the procurement of coronavirus tests was conducted inequitably and granted ISI's competitors an unfair advantage. Adv. Eran Winner, Adv. Ido Vakshi, and Adv. Gaya Tsarfati represented ISI in the petition, which seeks to cancel the tender and issue a new one.
October 11, 2021
World’s Most Important Financial Institutions Seek Involvement in Crypto Field
While Israel’s banks are in no hurry to accept the blockchain industry and are avidly trying to keep their distance from cryptocurrencies, this is not the case elsewhere.
Recently, the major global securities, derivatives and financial trade associations sent a joint letter to the Bank for International Settlements (BIS), which develops banking supervision standards and criteria, to adopt regulation that will enable their involvement in the crypto asset sector.
October 10, 2021
Barnea Represents Reef Technology in Acquisition of Israeli Startup Bond
We advised Reef Technology, a leading US operator of mobility and logistics hubs and neighborhood kitchens, on its acquisition of Bond, an Israeli logistics startup originally founded as Shookit, a direct-to-consumer grocery delivery company that delivered fresh produce to customers across the city within hours. The transaction was led by Adv. Michael Barnea, Adv. Ariella Dreyfuss, and Adv. Tal Freilich. Adv. Netta Bromberg advised on employment matters, while Adv. Harel Perlmutter and Adv. Hanna Daher advised on tax matters. Adv. Anat Even-Chen advised on data privacy, cybersecurity, and other regulatory matters.
October 7, 2021
Barnea Represents GAP Inc. in Acquisition of Israeli Startup
Our firm advised fashion retail giant Gap on its first significant acquisition of an Israeli technology startup. As part of the transaction, CB4's team will join Gap as full-time employees. Adv. Simon Jaffa and Adv. Ariella Dreyfuss represented the US clothing and accessories retailer, while Adv. Netta Bromberg and Adv. Jacki Silbermann advised on the employment matters arising from the transaction.
October 5, 2021
“Pandora Papers” Scandal: N12 Interview with Adv. Harel Perlmutter
The “Pandora Papers” scandal, revealed yesterday, shines a spotlight on the world of tax havens. Adv. Harel Perlmutter, head of the firm's Tax Department, addresses the issue in an interview with N12.