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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.
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.
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.
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.”
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.
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.
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.
Barnea Represents Azrieli Group in Launch of New Fashion Website
Azrieli Group and MGS have launched an online retail platform for fashion and footwear, marking the first time Azrieli has established a joint venture with a retailer. Adv. Sagi Gross led the transaction.
Expanding to International Markets – Is Your Business Ready?
Adv. Micky Barnea was invited to be a guest speaker in a webinar held on July 30 presented together with CoWrks Foundry, an India-based accelerator, RIHub, US-based innovation hub, and Brown University. Micky discussed the legal aspects of introducing a startup to the international market.
COVID-19's Effect on Completing Transactions
Many steps go into completing M&A transactions. Now, with the COVID-19 outbreak, companies are taking this time to modify and sometimes even cancel transactions. What is behind the delay in completing transactions, and on whom to take the risk? Globes interviewed M&A expert Micky Barnea on the subject.
Barnea Represents Britannica Knowledge Systems in USD 70 Million Deal with US Army
Adv. Yuval Lazi and Adv. Uri Hillel of our firm represented Britannica Knowledge Systems, a world-leading provider of advanced solutions for training management and professional competence, in a USD 70 million contract for the supply of the FOX system to the United States Army.
Webinar: How to Make a Difference
The Tel Aviv University Entrepreneurship Center begins today its series of summer lectures. Summer Entrepreneurship is a weekly program that invites four experts to talk about various topics related to entrepreneurship. The opening webinar today will host four experts in the high-tech field in Israel, including Adv. Micky Barnea. Micky will discuss the entrepreneurial relationship and why it is critical to a venture's success.
Returning Residents: Welcome Back to Israel?
Each year, many returning residents arrive in Israel. Following the COVID-19 outbreak, the number of people seeking to return to Israel has increased even further. The process of returning to Israel is not simple, and returning residents face enormous difficulties as part of it. A Ynet article on the subject featured an interview with Adv. Harel Perlmutter, a partner and the head of the firm’s Tax Department. Harel explained: “Those who return to Israel after less than six years abroad have almost no tax benefits.” He added that “there is a great confusion about the rights and benefits returning residents are eligible to from the National Insurance Institute. Over the years, the benefits for returning returns have been cut back, and this has kept people away from the country.”
ILS 600 Million Financial Closure at Etgal Power Plant
We represented a group of institutional lenders, including Psagot and Amitim, in a deal to finance Shikun & Binui Group's construction and operation of a power plant in Ashdod, for approx. ILS 600 million. Amitim and Psagot were represented by Adv. Simon Jaffa, Adv. Samuel Henri Samuel, and Adv. Rotem Orbach.
COVID-19 Cross-Border Briefing: Updates
Our firm was chosen to provide the Israel section of a briefing on governmental measures taken during COVID-19 in key jurisdictions. The publication offers a general summary of the law and is aimed to assist businesses through these ever changing times.
Dividend Distribution During COVID-19
The recent dividend distribution by TASE-listed Fox-Wizel Ltd., after receiving emergency funding from the Israeli government, raised ethical questions and highlighted the difficult choices facing many companies. In an op-ed published by Globes in response to the backlash, Adv. Micky Barnea discussed a central challenge: balancing the difficulties and uncertainties of the COVID-19 pandemic with companies’ desire and responsibility to continue operating as commercial enterprises.
Roundtable Article of Urban Renewal Experts
In the weekend edition of Yedioth Ahronoth, urban renewal experts gathered to discuss burning questions in the field. Representatives from our firm commented on what alternative housing is and when a tenant is entitled to it.
A Solution for Infrastructure Project Delays Is Also Needed
At the end of June, the Ministry of Construction and Housing announced that due to the coronavirus crisis the time in which a contractor can delay delivering an apartment without being sanctioned will increase to 100 days. Adv. Shai Avnieli, a partner in our Infrastructure Department, published an opinion article in Globes on the subject. He commented: "This decision, which stems from a desire to solve this complex issue, is indeed welcome. However, although this decision has a significant impact on the construction market in Israel, it does not fix the issues of the construction market as a whole, particularly not the infrastructure sector."
What to Do When a Tenant Stops Paying Rent
Monday’s episode of “Exposure,” a leading Israeli investigative television program, focused on tenants who rent luxury properties but then stop paying rent and refuse to vacate. The episode featured interviews with members of the prominent Refaeli family, who alleged that their tenant had failed to pay rent. Following the broadcast, host Haim Etgar interviewed Adv. Liat Keisary, a partner at our firm who advises high-net-worth clients on renting out their properties. Liat explained what to consider before renting out a property, how to respond when a tenant refuses to pay, and how to reduce the risk of such situations.
Lawsuit Filed Against Moshe Hogeg Alleges Fraud in Stox Fund Raising
Our firm is representing a Canadian citizen in an ILS 5 million lawsuit against Moshe Hogeg, a prominent Israeli entrepreneur in the cryptocurrency sector. Our client alleges that the defendants used funds raised by Hogeg’s company, Stox, for personal purposes and breached their obligations to investors.