Insights & News

Adv. Karin Kashi of Barnea represented Stride Gaming PLC, an online Bingo operator traded on AIM, London, in a major transaction recently. The Stride group acquired the assets and shares of Tarco Limited and Netboost Media Limited for consideration of up to GBP 40.2 million. GBP 22 million of  the amount will be paid in accordance with the 2017 EBITDA of the acquired businesses.

Minister of Finance, Moshe Kahlon, is proposing the imposition of an annual tax of 1% of the value, starting January 2017, on owners of 3 apartments and more. Adv. Liat Keisary, Partner at Barnea, was interviewed by Globes and commented that owners will eventually find legitimate tax structures to mitigate this tax. Others that will not be able to save this tax will transfer the cost onto the shoulders of the tenants.

In July 2016, Cellect Biotechnology announced that it had completed its NASDAQ IPO, raising USD 8.4 million. Cellect Biotechnology will be traded on NASDAQin parallel with its listing on the Tel Aviv Stock Exchange. Barnea represented a group of US underwriters, led by H.C. Wainwright, LLC, in the process of submitting Cellect Biotechnology's prospectus for the listing. Cellect Biotechnology develops innovative technologies in the stem cells sphere.

Adv. Zohar Lande and Adv. Yaacov Gershoni from the Litigation Department at Barnea are representing Maurice Haliwa, a shareholder in Manor A.D. Construction & Investments Ltd. Mr. Haliwa filed a lawsuit against Jacky Ben-Zaken and Avraam Nanikashvili in the amount of NIS 18 million.

Earlier this month the Israel Tax Authority presented its position that the sale of equity by a founder should be treated as a capital gain and not income, irrespective of whether such shares had been subject to a Reverse Vesting mechanism and/or Holdback. A double edged sword for entrepreneurs.

Adv. Liat Keisary, Partner at Barnea, was interviewed by Ynet in connection with the Jerusalem real estate fraud involving the sale of apartments using false documents. Liat explained that the public should pay attention to any warning signs and carry out the process in a structured manner.

The Cyprus Securities and Exchange Commission (CySEC) has begun to increase enforcement on Israeli companies operating in the field of FOREX and binary options and promote reform that could hamper their operations. Our Head of the Internet Department at Barnea, was interviewed by Calcalist on this issue. He remarked that Israeli companies operating in Cyprus are examining alternative places, such as Malta or Eastern European countries in the EU.

Barnea was selected to work in conjunction with the IDC Legal Clinic for Startups in supporting law students and entrepreneurs from under represented sectors, in the 2016/2017 academic year.

Barnea will participate today in the "Made in Lod" Boot camp. Made in Lod is a social enterprise, tech, and small business accelerator being directed by PresenTense and the Lod Young Adult Center. Adv. Yuval Lazi will discuss the common mistakes young startups make.

Our Litigation department represented Pharma Cosmetics Laboratories Ltd. (formerly HL Cosmetics Laboratories) in an IP claim against a beautician and her partner. The Rishon Lezion Magistrates Court recently awarded compensation in favor of Pharma and rejected the defendants' claim that the Copyright Act does not apply to the images and texts they copied from Pharma’s website.

An op-ed in The Marker by lawyers from our Capital Markets Department argues that the harm caused by applying the regulatory regime for hedge funds far outweights any potential benefit and may even lead to the collapse of the entire industry.

We were interviewed by several media outlets following Nochi Dankner's conviction for securities fraud. Dankner, who formerly controlled the IDB Group, was one of the most powerful figures in the Israeli economy. We noted that the verdict and the extensive media coverage surrounding it significantly contribute to the deterrent effect of the Israel Securities Authority and the prosecutor’s office.

An article on the proposal to reconsider the Israel Securities Authority's activist regulatory model for public companies, allowing them to enjoy wider business and legal maneuvering room.

Investors, whether angels, VCs or corporates, typically demand a seat on the board of directors of their target company in return for their investment. For the full article by Ariella Dreyfuss, please click here

Adv. Harel Perlmutter, Head of the Tax department at Barnea, was interviewed by Globes following the announcement by the Israel Tax Authority regarding tax audits of short term landlords. Harel explained that these landlords are liable not only for the payment of income tax, but also for the payment of VAT.

We were interviewed by Calcalist on the effect of the Brexit referendum results on online gambling companies. We expect that Malta can become an option for gambling companies who require an online gambling license from an EU Member State.

Simon Jaffa, Founding Partner at Barnea, was interviewed by Calcalist on the opportunities for Israeli investors, created by falling real estate prices in the UK, in the wake of the Brexit referendum results

This interview by Ynet explores the possible economic implications of the Brexit vote on real estate prices. Our expert advises to wait and see how much prices drop before buying or selling property in the country.

A moment before casting the Brexit votes, Simon Jaffa Founding Partner at Barnea was interview for the Jerusalem Post on the possible implications of the vote on Israeli companies having presence in the U.K.

IBM, Barnea and Marketing Envy will host a Round Table for CEO’s of start-ups which have raised over 1 million USD. As part of the program, Micky Barnea will discuss the challenges to be faced during second round capital raising.

The event will take place at Barnea’s offices.