Insights & News

While the UK press has widely reported on ‘fat cat’ salaries and exorbitant bonuses of some of the most senior employees of public companies in the UK, in Israel new legislation on salary levels has been introduced to curb such excesses and limit and control the monies that have been pouring into the pockets of senior executives.

The Israeli natural gas market is moving in a direction whereby it is obliged to take nationwide decisions  in order to find a balance between the public's interest and the investors interests, the local demand and the export opportunities and between the needs of the current generation and those of the future. See full article by Adv. Simon Jaffa (founding partner of Barnea & Co and head of Infrastructure and Project Finance Department) in Haaretz.

Claim in the amount of NIS 15,000,000 against Uri Yoggev: "He has provided false representations and has acted fraudulently". The claim was filed through Advocates Zohar Lande, Shay Sharvit and Itay Wigoda of Barnea Law Offices. To read more, please click here

Is it justifiable to block gambling sites? According to a Justice Department memo, a competent police officer may issue an order restricting access to a Web site, if there is a reasonable suspicion that the website is used for betting and that the site will continue to be used for betting if access is not restricted

 

Barnea & Co's was involved in the purchase of the "Lev Talpiot" shopping center in Jerusalem, which was completed on the 31.1.12 . The shopping center was purchased by RIT1 Investment Fund. Barnea represented Pini Serfaty, one of the shareholders of Lev Talpiot.

TheMarker annual edition entitled "The world is changing. And you?" dealt with the new "business world".  Adv. Michael Barnea discusses his career and the decisions that he has had to make during his career.

Barnea represented Ethemba Capital (an offshore private equity investment fund) in the purchase of 46% (constituting control) of the issued share capital of Avgol Industries 1953 Ltd (a public company traded on the Tel Aviv Stock Exchange in Israel) for a purchase price of approximately USD 107 million.

Israel, only 64 years old and home to just 7.9 million people, has produced a staggering number of start-ups, earning Tel Aviv a reputation as a center of technological innovation.
For the full article, by Adv. Simon Jaffa, please click here.

Advocates Zohar Lande and Itay Wigoda of Barnea filed an urgent request for provisional foreclosure and a prohibition of disposition order against Gad Zeevi. The purpose of the request is to guarantee that Gad Zeevi will pay to Zeev Rom the amount awarded to Zeev Rom in recent litigation.

Leading entrepreneur Gad Zeevi will pay Zeev Rom $USD 1.5 million as commission for his involvement in the transaction whereby Zeevi purchased 20% of Bezeq’s shares in 2000 in accordance with the decision handed down by the District Court of Haifa. Zeev Rom is represented by Advocates Zohar Lande and Itay Wigoda. Globes.

Leading lawyers, among them Adv. Michael Barnea, are discussing the subject of executives’ salaries and the different ways controlling shareholders could collect profits. Further reading here.

Following the successful launch of MarginProbe System, which received Pre-Market Approval (PMA) from the FDA early last year, Dune Medical Devices Ltd. has successfully completed the first of a two stage USD21 million equity financing.

Barnea represented SCR (engineering) Ltd. in the purchase of 70% of Milkline Srl’s, an Italian company, distributor in Europe.

The ICC Group was sued by the Administrator General for 150 million NIS, who argued that the trustees acted in severe negligence while cancelling the loss of profits insurance. The group is represented by Advocates Zohar Lande, Shai Sharvit, Itay Wigoda and Levi Metchnik of Barnea 

A conflict between Isra-air and its business partner, Easy-Jet, has brought an end to their partnership in recent months. Isra-air has filed a claim in the Center District Court, accusing Easyjet, and its owner Michael Raz, of fraud. Advocate Zohar Lande of Barnea & Co acts for Easyjet and has stated that “Isra-Air has breached the partnership framework it had”.

Tips for participating in a BOT Tender in Israel. by Simon Jaffa. Themarker Infrastructure Magazine, June 2012.

Barnea represented the Italy based Tenova Group in the context of its purchase of Bateman Engineering for approximately USD150 million. Specifically our firm represented Tenova S.p.A in the purchase of 99% of Bateman Advanced Technologies Ltd., an Israeli company in the business of providing process engineering, technology and equipment in connection with solvent extraction and chemical treatment - for a purchase price of approximately USD 22 million.

The firm represented MobeeArt Ltd, a software start-up developing breakthrough technology for creating mobile websites, in an investment round totaling about $ 1 million.

The leading coffee company, Espresso Club, is claiming for NIS 7 million from Strauss for withdrawing from purchasing the company. Espresso Club officials claim, through Adv. Zohar Landa and Shay Sharvit of Barnea Law Offices that during 4 months Strauss carried out a strict and extensive due diligence procedure of Espresso club and its business. During the due diligence, according to the claim, secret and confidential information was passed on to Strauss and such was exposed to Espresso Club’s main supplier.

Representatives of  Dutch food production companies and of Dutch universities visited Israel last week and met with Israeli companies  in order to  discuss the different options to establish cooperation and improve food production projects in the Third World.