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September 21, 2020
Blockchain and Digital Currencies Regulation
In a short video, we examine digital currencies and recent developments in blockchain regulation in Israel.
September 17, 2020
Updates Regarding the Upcoming Lockdown in Israel
A nationwide lockdown in Israel is to take effect on Friday, September 18, 2020, from 2 p.m., to last for at least 14 days, (the restrictions may be extended, in full or in part, as determined by the Israeli government). While the regulations are currently pending final approval by the Knesset’s Constitution, Law and Justice Committee, they are expected to be enacted late tonight or early tomorrow.
September 15, 2020
It’s A New World Out There – Hedge Funds Navigating COVID
As part of our legal counsel to the Israel Hedge Funds Association, we are proud to be involved in the IHFA's 8th Annual Conference. The theme of the conference is “It's A New World Out There – Hedge Funds Navigating COVID.”
September 8, 2020
The Ultimate Guide to eDiscovery
This has opened the door to an era of massive discovery of thousands different kinds of documents of between the parties (Word documents, PDFs, Excel spreadsheets, emails, photos, and audio files), which was uncommon in the days of paper and binders.
September 7, 2020
Cyberattack on Tower Semiconductor: Effect on Activity
Tower detected a cyberattack on its systems and announced that it had taken steps to contain the incident. Adv. Yuval Lazi and Adv. Anat Even Chen, partners at our firm who advise companies responding to cyber breaches, were interviewed by Globes about the incident. They discussed the attack’s impact on the company, its options for responding, and whether and when companies should report a cyberattack.
September 3, 2020
Israel Securities Authority Publishes Sentencings Guidelines for Administrative Procedures
For the first time, the Israel Securities Authority has published Sentencing Guidelines for Administrative Procedures which contain the considerations guiding its determination of sanctions for individual violators and corporations in an administrative procedure.
August 30, 2020
Employers Are Now Required to Publish Wage Gaps between Women and Men
According to a new amendment to the Male and Female Workers (Equal Pay) Law, employers must publish a yearly report outlining wage gaps between female and male employees. The amendment provides that certain employers must draft an internal yearly report detailing the average salary of their employees and the average wage gaps between men and women within each group of employees in the workplace.
August 30, 2020
Not All Sexual Comments or Advances from a Supervisor Constitute Sexual Harassment
An important ruling regarding workplace authority figures and the prevention of sexual harassment in the workplace has established that one cannot automatically assume sexual comments or advances by an employee with managerial authority constitute sexual harassment. In this ruling, it appears, the National Labor Court has tempered to some extent widespread notions about sexual harassment by an authority figure.
August 25, 2020
New Ruling Expected to Reduce Managers' Responsibility Following a Company's Collapse
In an important ruling recently handed down, the Tel Aviv District Court rejected a ILS 120 million lawsuit filed by Habas Group against the company's managers. Judge Kabub's ruling constitutes an initial interpretation of a new section of the the Insolvency and Rehabilitation Law, which deals with the degree of responsibility that can be attributed to managers when the company they run becomes insolvent.
August 25, 2020
TheMarker: In-Depth Report on Logistics of Purchasing COVID-19 Products
A recent article in TheMarket reported on the Ministry of Finance’s decision to waive the tender requirement for Israeli importer LR Industries Ltd., allowing it to supply millions of COVID-19 testing kits to the Ministry of Health in a deal valued at approximately USD 7.7 million. In response, long-established Israeli company Biological Industries Bet Haemek filed an administrative appeal and a motion for an interim order challenging the decision. Adv. Shai Avnieli and Adv. Shay Bello of our firm led the proceedings.
August 20, 2020
Israeli M&A players take note, the Warranty & Indemnity (W&I) Insurance market has matured.
This has opened the door to an era of massive discovery of thousands different kinds of documents of between the parties (Word documents, PDFs, Excel spreadsheets, emails, photos, and audio files), which was uncommon in the days of paper and binders.
August 20, 2020
A Startup Guide to the US Market
Adv. Daniel Lorber was invited to speak at a meetup hosted by Tech7 and Nisha Global for businesses exploring new markets abroad. He discussed the differences between US and Israeli business cultures.
August 19, 2020
Lecture to Compliance Officer Training Course
As experts in the compliance field, we were invited for the fourth straight year to lecture a compliance officer training course organized by the BDO Academy of Finance and MITIGATE. This unique practical course is geared to compliance officers in international financial organizations. During the lecture, we discussed administrative enforcement and enforcement plans.
August 17, 2020
Adv. Niv Polani Joins Barnea Jaffa Lande
Adv. Niv Polani has more than thirty years of experience in the legal and banking worlds. He held several senior positions at Bank Hapoalim, one of Israel's largest banks, including Vice General Counsel, Chief Compliance Officer, Vice President, and Head of Corporate Development. Niv also served as the General Counsel and Head of Regulatory Affairs of one of Israel’s leading credit card companies. Niv joins Barnea Jaffa Lande as an of counsel and will focus on developing and strengthening the firm's activities in the banking and payments fields.
August 13, 2020
Supreme Court Reduces Protection for New Apartment Buyers
A recent Supreme Court ruling held that a warning note could not serve as security for apartment buyers in a TAMA 38 project in Ramat Gan after the developer went bankrupt. In an interview with Calcalist, our firm explained the implications: “In dozens of TAMA 38 projects across Israel, a warning note was the only security buyers received to protect their investment. It is important to emphasize that the ruling concerns the specific circumstances of this case, in which the contractor became insolvent and the warning notes constituted an ‘onerous asset’ that impeded completion of the project.”
August 11, 2020
Using Open Source in Your Business? Beware the Fine Print
Open source code is written by developers and for developers. The concept behind open source is to allow access to many developers and promote collaboration between them.
August 11, 2020
Israel Securities Authority: Distributors May Be Liable for the Contents of a Prospectus
The Israeli Securities Authority has announced that distribution entities now may be liable for the contents of a prospectus. In a staff position paper published in late July, the ISA changed the rules of the game in the underwriting field by determining that a distributor, or an entity associated with a distributor, that purchases securities during an issuance and sells them within a short period of time (six months or less) shall be viewed by the ISA as an underwriter and shall be liable for the prospectus.
August 10, 2020
Real Estate Investors: What to Know About Purchasing an Apartment Following the Decision to Lower Purchase Tax Rates
The Ministry of Finance has announced reduced tax rates for the purchase of an apartment for investment. How much will you pay and how can you choose the right tax payment route for you? Check out Adv. Liat Keisary’s guide for investors published by Mako.
August 10, 2020
Establishment of New Investment Fund in Asia
Meitav Dash’s Liquidity Fund will partner with MUFG Bank, Japan’s largest bank, to establish a private investment fund in Asia. Incorporated in Singapore, the fund will provide credit to Asian companies through transactions that securitize future cash flows. Adv. Roy Engel and Adv. Yuval Lazi led our firm’s advice to Liquidity, which will provide management and underwriting services to the joint venture.
August 5, 2020
Barnea Represents Topaz Family in Sale of Holdings in Keystone Group
Approximately a year and a half after Accelmed, the investment fund managed by Uri Geiger, announced the merger of its US-based portfolio company, Keystone Group, with Israeli company Paltop, controlled by Shmuel Topaz, Accelmed is acquiring all remaining holdings in Paltop for ILS 100 million. The transaction resolves the dispute between the Paltop and Accelmed investor groups. Our firm represented the Topaz family and Paltop’s investors.