Insights & News

The Israeli Minister of Finance, Mr. Yair Lapid recently proposed that a couple with at least one child intending to buy their first apartment from a contractor will not be obliged to pay VAT. The head of real estate department at Barnea, Ariel Nadler, agrees that this proposal will allow young couples to buy an apartment, however, this step is not enough in order to change the current real estate situation in Israel.  Calcalist, 19.3.14.

As a part of the firm's pro-bono activity, we participate in the project 'a different kind of class' and we have embraced a 6th grade in Rambam elementary school in Netanya.

Adv. Zohar Lande and adv. Moran Bickel, filed a monetary claim for NIS 4.8 million with the Tel-Aviv District Court concerning the alleged fraudulent actions of a trustee relating to real estate investments in Thailand.

Zohar Lande was quoted in an article by the Kingsley Napley law firm. The article records recent quotes of leading commercial litigators from around the world. The experts discuss the recent trends in their respective countries. Zohar Lande is the only commercial litigation lawyer from Israel to be approached for his comments.  

 

Barnea's partner and head of internet department published an article (in Hebrew) in the Calcalist financial newspaper, regarding a recent Israeli court decision that compensated a plaintiff for defamation published against him on Facebook. Dr. Baruch criticizes the court's reasoning, that sought to place less importance and magnitude in respect of defamation published on Facebook, compared to defamation published via other avenues. Dr. Baruch argues, as outlined in the article, that defamation published on Facebook should be treated in the exact same manner in which any other published defamation is treated.

Lenny Sackstein, the chairman at Carmit Candy Industries Ltd.  which is represented by Barnea, described in court yesterday the difficulties in bringing witnesses to testify against Elite – Strauss  Cadbury case. To read more, please click here

Dun & Bradstreet ranked Barnea  as a leading law firm in 6 practice areas: International Commercial Law, Mergers & Acquisitions, Project Finance & Infrastructure, Commercial Litigation, High-Tech and Capital Markets.

Legislation intended to loosen the stranglehold of a few conglomerates on the economy is set to trigger a surge in sell-offs and overseas interest.

The Canadian businessman, Benny Tisch, has filed a claim against Ori Yogev, currently Director of the Government Companies Authority, in the amount of NIS 15 million.  Tisch claims that Yogev made false representations and acted fraudulently, causing Tisch to invest millions in Whitewater Holdings. Whitewater Holdings is in liquidation and creditors are owed NIS 19 million.

Barnea's partner and head of internet department, published an article in the InterGaming Law magazine, the specialist international gaming law magazine: Casino in Israel - could the notion materialize.

Adv. Maya Zisser - Real estate  and Adv. Shai Sharvit - Litigation have been made partners.

Pilat Media Plc is a unique UK incorporated public company, as it was the only UK company listed on the Tel  Aviv Stock Exchange (TASE) and the only company fully listed on both AIM and TASE – meeting the regulatory requirements of both jurisdictions.

The firm has represented Pilat since its inception, through a spin-off (demerger) from an Israeli public company, and has assisted it with compliance with Israeli regulatory requirements through the years. In April 2014 Pilat Media was sold to Sintec Media, one of its major competitors for a cash consideration of more than $100 million.

Barnea & Co represented Pilat Media and its shareholders in Israeli aspects of the transaction.

Carmit's civil suit is partly based on records and documents collected by the Antitrust Authority in during its investigations.  The following was submitted  by Adv. Zohar Lande, Adv. Shai Sharvit and Adv. Moran Bickel, from Barnea, to the Tel Aviv District Court.

Important information is currently being unveiled at the Central District Court regarding the ways in which the Strauss Group was allegedly attempting to block Cadbury from entering the Israeli Market in 2002. To read more, please click here

The article below addresses the privatization chapter of the newly enacted law for the encouragement of competition and reduction of concentration in the Israeli market. The chapter inter alia restricts the State from granting rights to and engaging with entities, which already have received rights from the state and thus deemed to be "concentrational". Adv. Lande argues that the chapter is far reaching, leads to uncertainty in the market and may prevent the effective allocation of rights in the future, all of which will have a detrimental effect on the market. To read more, please click here

After the Law for the Encouragement of Competition and the Reduction of Concentration was enacted, Calcalist convened a panel of experts, including Michael Barnea, in order to discuss the powers of the Antitrust Commissioner.

Israel's Knesset on December 23 approved amendment 198, revising section 75B of the Income Tax Ordinance, 1961 (ITO) to further ensure the taxation of controlled foreign corporations. The amendment entered into force on January 1. Since 2006 Israel has taxed qualifying resident shareholders -- both corporate and individual -- on the undistributed profits of foreign companies that qualify as CFCs. Specifically, when an Israeli resident shareholder individually owns at least 10 percent of the means of control of a foreign company and collectively owns, together with other

Israeli resident shareholders, at least 50 percent, and the majority of the foreign company's income is (by Israeli definition) considered passive in a specific tax year, the qualifying shareholders must each report their pro rata part in the undistributed profits of that foreign company as a deemed dividend. That regime also applies to foreign companies that are controlled at least 40 percent by close relatives.

The firm of Barnea & Co, together with the Israel-Netherlands Chamber of Commerce, and the Netherlands Foreign Investment Agency, organize a breakfast workshop "Tax Changes 2014 relevant for Israeli companies investing in/through In the Netherlands" to be held morning of December 25, 2013, at the Offices of Barnea & Co, 6 HaChoshlim street, 4th floor, Herzelia.  Invitations only.

The Tel Aviv court has overturned and a court order allowing service of the claim against a former shareholder in a company called "Vita" outside of the Israeli jurisdiction.

There is a growing interest in raising funds online. This is owing to the fact that the Internet provides a wide exposure to diverse audiences. This creates an opportunity for small enterprises to be exposed to alternative and new financing options, that in the normal course would not be available to them. This, in turn, allows the enterprise to widen their circle of potential investors.