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March 12, 2024

Barnea: Defending Panda Trading Applications against Leave for Appeal Submitted to Supreme Court

Our firm represented Panda Trading Applications Ltd. against an application for leave to appeal a Haifa District Court ruling to the Supreme Court. The Haifa District Court handed down the interim ruling during a proceeding for separation between the company’s shareholders. The case involved a private company held equally by two shareholders, Maor and Shmulik, who also held office as the company’s sole directors. A severe crisis of trust arose between the two, which led to the opening of a legal proceeding for separation between the parties. The district court issued various instructions during the proceeding with the goal of extricating the company from the managerial impasse in which it found itself, including the appointment of an additional director to the company’s board of directors to break the deadlock. Subsequently, the company’s board of directors held a meeting to discuss the question of the salary of the company’s CEO, Shmulik.  The district court’s ruling stated that no flaw occurred in the mode of conduct of the board meetings during which the salary was determined, and that Maor’s vote (against approving the salary) was tainted by a “negative personal matter.” The district court also ruled that, under the circumstances and considering the company’s unique structure, it is not warranted to make Shmulik’s salary terms subject to approval by the general meeting, notwithstanding the provisions of the Companies Law in this regard. Following the district court’s ruling, Maor filed an application for leave to appeal to the Supreme Court. On March 10, 2024, after receiving the parties’ responses, the Supreme Court issued its ruling rejecting the application for leave to appeal. This is a material and important ruling that ratifies a unique mechanism tailored to the company’s size, while exercising the broad powers vested by the district court during its management of the separation proceedings between shareholders in a private company. This is another measure that delineates Section 191 of the Companies Law and the derivative powers of the courts by virtue thereof. Zohar Lande, Eran Winner, Lina Makhuli, and Chen Segal represented Panda Trading Applications Ltd. in the proceeding.

March 7, 2024

Barnea: Representing Gencell in NIS 16 Million Lawsuit

Gal Livshits, Yatir Madar, and Liron Dahan from our firm’s Litigation Department are representing Gencell in a NIS 16 million lawsuit against the car importer EV Motors as well as Holon Motors. The suit alleges the defendants owe Gencell NIS 4.5 million for systems and equipment they purchased but did not pay for.

December 27, 2023

Barnea: Representing Eshkolot in Lawsuit against Screen iL

After filing a lawsuit against Netflix, Eshkolot, the Company for the Performing Rights of Israeli Artists continues to fight companies that use protected performances for commercial purposes without obtaining the artists’ consent and without paying them royalties. Last week, with our counsel, Eshkolot filed another lawsuit on the same issue against Stream IL Communication Ltd and the American company Stream IL Inc., which operate the website Screen iL. Eyal Nachshon, Avinadav Preuss, and Naama Ben Arosh Moshe prepared the statement of claim.

September 21, 2023

Derivative Claims and Independent Committees: Eyal Nachshon Lecture on Israeli Association of Publicly Traded Companies Webinar

Following the publication of draft regulations on derivative claims, Eyal Nachshon, a partner in our firm's litigation department, was invited to participate in a webinar hosted by the Israeli Association of Publicly Traded Companies on the issue. In his lecture, Eyal referred to the draft regulations with an eye toward litigation.

September 6, 2023

Successful and Proactive Institutional Activism in Israel

Following a lengthy battle by the majority shareholders in Megureit, led by Phoenix Group and More Investment House, a significant reduction was made to the REIT fund’s management fees. The agreement was reached after an institutional activist struggle, including a petition to the court and a demand for a special shareholders’ meeting. Phoenix and More were represented by firm partners Zohar Lande and Hagit Ross, with additional assistance from Shachar Rothschild, Alon Anava, Tzofiya Shenfeld, and Ronit Lerer.

August 28, 2023

Insolvency: Debt Settlements on the Rise

Idan Miller, the coordinator of our firm’s insolvency and corporate recovery practice, was interviewed by Globes about the wave of companies in financial distress. Idan noted that “what we’re seeing in the newspapers is only the tip of the iceberg.”  According to Idan, a large number of unpublicized debt settlements are currently underway in contracting, high-tech, and security procurement companies.

August 13, 2023

Barnea: Representing Bareket in NIS 20 Million Lawsuit

Shai Avnieli and Omer Ungar are representing Bareket in a lawsuit the construction company Longshine has filed against it. Longshine, which served as the main contractor in a project initiated by Bareket, was nine months late in delivery of the project. As a result, Bareket deducted approximately NIS 10 million from the construction account. 

August 7, 2023

Barnea: Advising Anise on Corporate Recovery Plan

Idan Miller and Liron Dahan are advising Anise on a corporate recovery plan, after the natural products chain fell into an approximately ILS 22.9 million debt. As part of this process, our firm submitted a request to the district court to appoint a trustee and approve a debt arrangement. Anise’s debts accumulated due to branch expansion and an increase in interest rates. The chain is now working to implement its all-encompassing corporate recovery plan, which includes closing unprofitable branches, closing a packaging plant in Kiryat Anavim, improving efficiency, and further reductions.

August 8, 2023

Barnea: Representing Client in NIS 11 Million Lawsuit

Our firm is representing Adi Nahum, a partner in the Contempo real estate group, and several companies owned by him, in an NIS 11 million claim for monetary relief and other remedies, including the removal of minority oppression and a declaratory judgment of ownership rights in companies in Contempo against the company's owner, Shahar Raz, and other companies in the group. Contempo oversees dozens of urban renewal projects in sought-after neighborhoods in central Tel Aviv, Givatayim, Givat Shmuel, Ra’anana, Bat Yam, and Ramat Hasharon.

July 17, 2023

Barnea: Representing 120 Apartment Owners in Pinui-Binui Project against Three Recalcitrant Owners

Lawyers from our firm’s Real Estate Department, are advising apartment owners in a residential complex designated for pinui-binui in Herzliya. They represented a group of about 120 apartment owners in court against three recalcitrant owners who are objecting to the project due to their demand for higher recompense from the contractor. The court made the extraordinary decision to order the recalcitrant owners to pay NIS 7.8 million in compensation (NIS 2.6 million apiece). In addition, each recalcitrant owner was ordered to pay NIS 20,000 for legal expenses.

July 9, 2023

New Limitations on the Rehabilitation of an Insolvent Company

In a recent ruling in the Bachar Real Estate case, the court prioritized the rights of tenants over insolvent urban renewal companies and created a significant obstacle to the rehabilitation of such companies.Idan Miller the manager of our firm’s insolvency and corporate recovery practice, presents the challenges of the new ruling in an op-ed for Globes.

July 5, 2023

Barnea: Representing RGE in Hot’s Appeal to the Supreme Court over FREETV

Our firm represented RGE in the appeal the television cable company Hot filed with the Israeli Supreme Court over the Second Authority for Television and Radio’s decision to approve the establishment of FREETV, a joint initiative between RGE and Keshet. In its appeal, Hot claimed approval of the project was invalid because of alleged harm to competition and because of the project’s potential consequences on centralization in the media. The Supreme Court rejected the appeal and ruled it was not within Hot’s authority to determine a legal flaw in the decision-making process or the approval itself. RGE was represented by Zohar Lande, Eran Winner, Ido Vakshi, and Lina Makhuli.

July 3, 2023

Avishay Klein and Eyal Nachshon in TheMarker

TheMarker’s Ahad Ha’am magazine published an op-ed by Dr. Avishay Klein on the Israel Securities Authority’s latest guidelines on cyber risks (page 4). The magazine also conducted an interview with Eyal Nachshon on the increase in scope of class action lawsuits against public companies in Israel (page 11). Eyal addressed, among other things, his representation of several companies in a recent series of digital accessibility class action lawsuits.

June 28, 2023

Representing a Billionaire in a Dispute with His Former Son-in-Law

A tumultuous seven-year family conflict ended with the issuance of a ruling by Israel’s Supreme Court. The Court ruled in our client’s favor that funds allocated by him for the benefit of his daughter and which were managed by his former son-in-law in various investments were meant to be held in trust and were not given as a gift, as the son-in-law claimed. The Supreme Court ruled that a trustee will be appointed to manage the trust in accordance with its goals, that the former son-in-law must return the funds to the trust, and that the trustee shall be entitled to take any action necessary to recoup all of the trust’s assets, including the funds the son-in-law allegedly embezzled. In addition, the Supreme Court ordered the son-in-law to bear our client’s legal fees and expenses amounting to NIS 1.25 million. Zohar Lande, Gal Livshits, Adi Shoham, Zohar Haim Levinger, and Liron Dahan provided representation in this matter.

June 20, 2023

Class Actions Law: Eyal Nachshon Lectures on Israeli Association of Publicly Traded Companies Webinar

Eyal Nachshon, a partner in our firm’s Litigation Department, was invited to lecture on a webinar hosted by the Israeli Association of Publicly Traded Companies. Eyal discussed a recent case involving 70 simultaneous digital accessibility class action lawsuits. Also lecturing as part of the webinar were representatives from the Ministry of Justice and the Israel Securities Authority, who served as members on the committee examining the recently published amendment to Israel’s Class Action Law.

June 19, 2023

Barnea: Eshkolot vs. Netflix

Globes’ new weekly column, “Three Legal Rulings in a Week,” chose to highlight the court’s ruling in a case handled by firm partner Eyal Nachshon. Eyal and his team are representing Eshkolot in the lawsuit it filed against Netflix.

May 24, 2023

Lecture: Positions and Interests in the Event of Insolvency

Adv. Idan Miller is lecturing to a small business finance risk assessment course. The course is for credit coordinators and business bankers at Israel Discount Bank. The course was organized by the BDO Academy of Finance and the Israeli Institute of Finance (IFI).

April 24, 2023

Barnea: Representing Eshkolot in Lawsuit against Netflix

Eyal Nachshon, Dana Bookstein and Naama Ben Arush Moshe are representing Eshkolot, the Company for the Performing Rights of Israeli Artists in a lawsuit it filed against Netflix, alleging the company made use of protected performances without obtaining the artists’ consent and without paying them royalties.

April 10, 2023

Insolvency and Late Offers: Idan Miller Op-Ed in TheMarker

Does the ability to make a later offer in insolvency proceeding help creditors to receive more and allow the trustee to conduct a more thorough procedure?

March 30, 2023

Hadar Israeli Featured on Ynet Panel on Zadorov Verdict

As an expert on criminal law and white-collar crime, Hadar Israeli was asked to participate today in Ynet’s live panel discussion on the verdict in the Roman Zadorov trial.
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