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Insights & News /  Banking & Finance

November 9, 2020

Our Firm Represented CAF in Funding for Jerusalem Light Rail Project

After a year of negotiations, Jerusalem Light Rail concessionaire Shapir Engineering and its Spanish partner CAF announced the closure of a financial agreement for the construction and operation of a network of light rail lines in Jerusalem. The project's initial financing, amounting to nearly NIS 4 billion, will be led by Bank Hapoalim, with the participation of First International Bank of Israel, investment house Altshuler Shaham, and insurance company Migdal. Our firm's Simon Jaffa and Samuel Henry Samuel represented CAF in the transaction. This is CAF's first project in Israel.

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 NIS 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. Advs. Eyal Nachshon and Michael Dubin analyze the ruling in an article published by Calcalist.

August 17, 2020

Adv. Niv Polani, Retired Bank Hapoalim Executive, 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.

July 19, 2020

NIS 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. NIS 600 million. Amitim and Psagot were represented by Advs. Simon Jaffa, Samuel Henri Samuel, and Rotem Orbach.  

May 20, 2020

Doing Business in Israel – Practical Law

This year, we were once again responsible for preparing the QA guide on doing business in Israel for the Practical Law website. The guide provides an overview of recent key developments that have affected doing business in Israel, including the legal system, foreign investment, employment, tax, competition, privacy, IP, etc.

March 29, 2020

Article: Bond Market Rescue – Debt and Interest Restructuring

The coronavirus crisis is affecting both stock prices and corporate bond prices and yields in the capital market. Zohar Lande, in an article for Bizportal, explains that the Israel Securities Authority must create a “fast-track mechanism” that allows companies to choose to be included in a debt restructuring arrangement subject to the different criteria.

March 19, 2020

Coronavirus: Is a Huge Wave of Debt Arrangement on the Way?

Micky Barnea was interviewed by Globes on the coronavirus’ effect on both the corporate and government bond markets.

November 19, 2019

Event: The Future of Money Transfers

Our firm hosted today ACC members for a seminar on money transfers. Dr. Zvi Gabbay reviewed the regulations and guidelines that exist today in Israel and around the world on the handling of money transfers. In addition, we conducted a panel discussion addressing the challenges and opportunities facing businesses who need to know how to solve problems that may arise. Participating in the panel were Anat Even-Chen, our regulation expert; Doron Cohen, CEO of Covercy; Idit Froim, General Counsel of Colu; Yitz Raab, Managing Partner of Tzur Management; Rami Sasson, Chief Compliance Officer of Discount Bank; and Ronen Siman-Tov, CTO of IBM Blockchain World Wire.

September 26, 2019

Risk Management and the Latest Word on KYC and Preventing International Money Laundering

Together with Clifford Chance, we held a workshop for compliance officers and risk management department staff at Discount Bank and Bank Leumi. The workshop included discussions on money laundering enforcement trends, banks' obligations, and how to manage risk and provide service.

July 4, 2019

Article: The Israeli Payments Market Remains Behind

Adv. Anat Even-Chen, a partner and our regulation expert, published an article in Globes describing the advancement of the payments market in Israel and its opening up to competition. This move requires courageous measures by regulators - the Capital Market Authority and the Bank of Israel.

April 5, 2017

Barnea & Co. represented Avgol in issuance of a New Series of Bonds

Barnea represented Avgol Industries 1953 Ltd in connection with the issuance of a new series of bonds in the amount of NIS 197 Million. Avgol is one of the biggest manufacturers in the world of non-woven fabrics for the hygiene market. Its securities are traded in the leading indices on the Tel Aviv Stock Exchange.

February 5, 2017

Eliezer Fishman Is Not Alone: Every Year 19 Thousand Israelis Declared Bankrupt

Our Litigation Department was interviewed by Maariv's "The Weekend" following Eliezer Fishman's declaration of bankruptcy. We noted there are ways to prevent the loss of all family assets, even in the event of bankruptcy, and to avoid involving the family assets with business assets.

January 4, 2016

Finally, crowdfunding comes to Israel

Ariella Dreyfuss Adv. published an article in the leading legal English website "The Lawyer" discussing the new law in Israel relating to alternative means of raising funds. The goal of the law is to assist small Israeli companies in their efforts to raise funds through the social phenomena of crowdfunding, and the establishment of high-tech funds to be traded on a new index on the Tel Aviv Stock Exchange.
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