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June 7, 2015
Johnson Matthey buys Israel packaging co StePac
StePac, which has developed and manufactured special packaging, has been sold to Johnson Matthey Investments for £18 million in cash by DS Smith, which owned all of StePac. Barnea represented DS Smith in the deal.
June 3, 2015
StartUp Open Israel is underway
Global Entrepreneurship Network Israel, Barnea Co Law firm, The Jerusalem Development Authority, JNext, The Jerusalem Municipality, The MIT Enterprise Forum - Israel, Israel advanced technology industries, Made In Jerusalem and more leading hi-tech entities have organized for the 2nd time a competition for early stage startups.
The Israeli Company which wins StartUp Open will receive a package of services worth thousands of shekels and will automatically be entered into the list of the World's Top 50 Most Promising Startups, also known as the GEW50.
Registration for StartUp Open Israel 2015 will be open until July 13th , 2015. After a thorough process of judging, the final round of the StartUp Open competition in Israel will be held at Jerusalem on September 7th, 2015 in front of an audience consisting of entrepreneurs, managers, investors, researchers, and government representatives.
June 2, 2015
Tadiran to acquire Supergas
Tadiran Holdings Ltd., controlled by Moshe Mamrod, is acquiring the gas distributor, Supergas, from Granite Hacarmel, a unit of Azrieli Group Ltd., for NIS 250 million. Micky Barnea and Ilan Blumenfeld represent Granite Hacarmel.
May 28, 2015
Exclusive Q&A On Banking & Finance With Simon Jaffa
As an Israeli expert in Banking Finance, Adv. Simon Jaffa participated in a QA by the leading CorporateLivewire website. Simon reviewed the recent regulatory changes in the area, key trends expected to be seen over the coming year.
May 27, 2015
Barnea represents TDT Specialist SRL
Eli Reifman, former CEO of Emblaze, and managers at MCE Systems are being sued by a Romanian company,TDT Specialist SRL, for 63 NIS million. TDT is represented by Adv. Zohar Lande and Adv. Gal Livshits.
May 21, 2015
Barnea & Co. hosted a delegation from Peru
As part of our collaboration with Startau, Tel Aviv University's Entrepreneurship Center, our firm hosted today a student delegation from Peru. The event included lectures by Adv. Micky Barnea, managing partner and by Lior Weizman, Eco System development Manager Cloud, Start ups and Academia, From IBM.
May 14, 2015
Is the online financial trading industry part of Israeli high-tech?
Micky Barnea, Managing Partner and Head of the Technology department published an article in the IVC annual high-tech book. In the article, Micky asserts that although online financial trading is focused on financial tools, the ability to innovate is a key ingredient in the success of online financial trading companies. As such, they should be treated as high-tech companies.
May 12, 2015
Regulation – what is it good for and what are its implications?
The benefits of operating under a license and regulatory regime
Value
A higher value for the operator, on account of greater certainty to investors and the market in general. “Cleaner” operation is of higher value, even if carries with it smaller revenue.
May 7, 2015
Top FX figures meet venture capital firms in Tel Aviv: Is the age of funding here?
Senior industry figures from a host of FX companies met top venture capital investors in Tel Aviv, Israel today at the conference hosted by Barnea and the IVC. To read more, please click here
May 3, 2015
The birthday of her Majesty Queen Elizabeth II
Barnea was pleased to be one of the sponsors of and to participate in the British Embassy’s party to honor the Queen’s birthday. The British Ambassador to Israel, Matthew Gould, and his wife, Celia, hosted 1000 guests at the Ariel Sharon Park Recycling Mountain. The event was focused on UK/Israel collaboration in technology, with a showcase of Israeli innovation, in partnersip with the UK.
April 30, 2015
Joint interview – Micky Barnea and IVC CEO - Mr Koby Simana
Micky Barnea, managing partner of Barnea, and Koby Simana, CEO of IVC Online, in a joint interview focused on the area of financial trading platforms. In the interview Micky discusses the effects of the new Israeli regulations pertaining to the activities of trading platforms. These regulations will come into effect on May 26, 2015.
April 28, 2015
"Voluntary retirement plans": what the employee needs to know
Last week Teva and Cellcom announced voluntary retirement plans for certain employees. Teva offers early retirement to 200 employees. The plan includes a retirement package on particularly beneficial terms, markedly higher than what prevails in the market.
Cellcom offers every employee with 30 months or more of seniority the possibility to terminate his work at the group, with a substantial economic parachute in the form of especially generous retirement terms. The plan includes an attractive basket of benefits with a limited number of places. Starting now and during an entire month, all company employees meeting the seniority criterion can submit a request to management for inclusion in the plan.
Following those offers, Marie Tsion was interviewed by Globes and discussed the influence of workers' committees: "Once there is a worker's committee and convergence of interests - a voluntary retirement plan is the best solution. An Employer understands that in this way it will achieve maximum results and pay less, eventually. If the CEO feels he has a partner he will always prefer the dialogue ".
April 22, 2015
Legal Business: Israel 2015
The Legal Business magazine has dedicated its April edition to Israel, with a focus on current topics and trends in the country. Michael Barnea and Simon Jaffa were interviewed regarding Chinese interest in doing business in Israel. "In some respects because of the geopolitical limitation, there is less competition for certain deals. Investors may not face as much competition as businesses in the US and UK," says Barnea.
April 21, 2015
Legal Business: Israel
As an expert in the Infrastructure and Gas industries, Simon Jaffa was interviewed by the Legal Business magazine, concerning the current uncertainty arising from the anti-trust commissioner’s intervention in the ownership structure of Israel’s gas fields, saying: 'all this uncertainty puts off foreign companies coming into Israel and investing'.
April 13, 2015
Want a donation? Do you think like us?
As part of the coalition negotiations, the" HaBayit HaYehudi" party demands the amendment of the "Non-Profit Organizations" Law as a condition of its entry to the government. Adv. Asaf Shalev, who specializes in advising non-Profit organizations, has written in an opinion piece which has been published in Maariv.
April 13, 2015
Taxation of e-commerce in Israel – income tax perspectives according to a draft circular of the income tax authority
The Israeli Tax Authority (ITA) published a draft circular concerning the taxation of foreign corporations that derive income from the provision of services via the internet to Israeli residents.
Such circular was published due to the need of the ITA to provide an interpretation of the Israeli tax legislation, in respect of income derived from e-commerce, so as to accommodate the substantial e-commerce activities taking place in or via Israel. The current definitions and rules, which relate to terms such as permanent establishment or place of doing business, have been commonly used in respect of brick and mortar businesses, and the need has arisen to provide an interpretation for such terms so as to allow them to appropriately be applied to the digital economy.
April 12, 2015
April 2015 News flash – labor laws
An amendment to the Minimum Wage Law was recently promulgated, which will be gradually applied with reference to four periods. The first period begins on April 1, 2015, when the minimum wage is to be updated to NIS 4,650 (gross). The first update must be made in the April 2015 wage, which is payable at the beginning of May 2015.
All employers in the economy, including employers who are not employing employees at minimum wage, must specify the minimum wage rate in all pay slips. As a result, pay slips must be revised accordingly.
Pursuant to the law, for the purpose of calculating compliance with the minimum wage, base wage/combined wage, cost of living increases and permanent allowances being paid to employees on account of their work must be taken into account.
The subsequent minimum wage updates shall be as follows:
On April 1, 2016, the wage shall be updated to the higher of NIS 4,650 or 47.5% of the average wage in the economy as it shall be on that date.
On July 1, 2016, the wage shall be updated to the higher of the wage during the second period or NIS 4,825.
On January 1, 2017, the minimum wage shall be updated to NIS 5,000.
If you need additional details or advice regarding specific circumstances, feel free to contact our Labor Law Department.
March 31, 2015
"Globes" Dun's 100 law firms rankings for 2015
The "Globes" Dun's 100 law firms rankings for 2015, ranks Barnea as experts in: International commercial, high-tech, infrastructure and project finance, litigation and capital markets.
March 25, 2015
How the new government will cope with failures in the real estate market?
Following last week's elections, "Eched Ha'am" Magazine organized a real estate experts round table in order to discuss the current real estate crisis, possible solutions and provide a forecast for the future. Ariel Nadler, partner and head of the Real Estate department at Barnea, spoke about market failures, the challenges and weaknesses in the existing solutions.
March 24, 2015
SAVE THE DATE: Online Financial Trading NOW, May 5th Tel Aviv
Barnea, IVC, and SpotOption invite you to "Online Financial Trading NOW" Conference. The conference will deal in opportunities, challenges, innovations and trends in the Online Financial Trading Industry. The event will be held on Tuesday, May 5, 2015, 08:30-13:00 at Meirhoff Gallery, Dovnov 8, Tel Aviv.