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September 30, 2016
Barnea Represents IGP in Investment in Jacada
Barnea represented Israel Growth Partners (IGP), a private equity fund, in an agreement to buy 300,000 Jacada shares, 7% of the company's share capital, from Robert (Bob) Ashton's investment firm Kinetic Catalyst Partners.
September 28, 2016
Bond Terms – Negative Pledge Relating to Floating Charges
A customary practice in the credit market makes the provision of financing for a corporation contingent upon the creation of a floating charge on all of its assets in favor of the financier. In most instances, the bond terms relating to the lien also include a ”negative pledge” – a restrictive stipulation that prohibits a corporation from creating additional liens without receiving the financier’s prior written approval.
September 25, 2016
Barnea Represents Rafi Bar-Lev
Barnea represented Rafi Bar-Lev, a former salesperson at Utrade, Aviv Talmor’s Israeli investment company, at a hearing before the Tel Aviv Magistrate’s Court. Utrade’s operations had been suspended by the Israel Securities Authority.
September 22, 2016
Class Actions in Israel- Overview and Contemporary Trends
The Israeli Class Action Law came into force in 2006, and formally regulates the proceedings applying to class actions in Israel. This type of action was available in Israel before 2006, but was much less developed. Since the advent of the Law, class actions have become a favored path of pursuing litigation where the damage caused to a single plaintiff is not significant and would usually not result in a claim against the party which caused the damage. The majority of class actions filed in Israel are consumer claims against corporate entities.
September 22, 2016
Barnea Represents GBI Racing
Adv. Zohar Lande, head of our Litigation Department, represents GBI Racing, a British company that provides betting services to Toto (the Israel Sports Betting Board). The company has asked Finance Minister Moshe Kahlon to reconsider the decision to ban betting on horse races, which was approved by a government committee chaired by Finance Ministry Director General Shai Babad. GBI Racing contends that it was not given an opportunity to present alternative data to the committee.
September 21, 2016
Deadline Extension for Making Internet Websites and Mobile Applications Accessible to People With Disabilities
A few days ago the Knesset Labor, Welfare and Health Committee enacted an amendment to Section 35 of the website accessibility regulations, called "the Equal Rights for People with Disabilities (Service Accessibility Adjustments) Regulations 5773-2013" (the “Regulations”).
September 15, 2016
Capital Markets 2016 – Virtual Roundtable
Corporate Live Wire held a capital markets roundtable featuring experts from around the world, including representatives from our firm. The participants discussed recent regulatory changes, global economic risks, cybersecurity challenges, and trends in capital flows.
September 13, 2016
How Brexit Might Affect the UK's Environmental and Energy Law
The European Union (EU) has driven environmental policy across Europe since its inception in 1992. With the United Kingdoms (UK) referendum of withdrawal from the EU, though, how it responds in its energy and environmental legal and regulatory structure could affect not only the UK, but the European and even the global marketplace.
September 7, 2016
Construction Site Collapse in Tel Aviv
We were interviewed by Ynet following the collapsed parking structure in the Ramat Hahayal neighborhood in northern Tel Aviv. We commented that the function of the project manager is not defined in the Planning and Building Law. There are many responsibilities and it is not clear who is responsible for what.
September 5, 2016
For the First Time, Tax Relief Has Been Approved for Contributions to an Israeli NPO Operating Abroad
In an unprecedented action, the Knesset Finance Committee has recently recognized an Israeli organization operating abroad as a ‘public institution’ pursuant to section 46 of the Israeli Income Tax Ordinance. Such recognition affords the non-profit organization, a tax benefit, by way of a tax credit to donors for their donations granted to that organization.
September 1, 2016
Fathers Granted Right to Paternity Leave – Adv. Marie Tsion for Walla
Adv. Marie Tzion, the head of our Employment Department, published an op-ed in Walla Business following the passage of an amendment granting fathers the right to paternity leave using their existing leave entitlements.
August 31, 2016
EU: Apple Ordered to Pay Ireland EUR 13 Billion in Taxes
Adv. Harel Perlmutter was interviewed by leading newspapers about the European Commission’s order requiring Apple to pay EUR 13 billion (USD 14.5 billion) in unpaid taxes to Ireland. Harel noted that the landmark decision could expose Apple to billions of dollars in additional back-tax assessments.
August 31, 2016
Amendment to the “Anti-Spam Law”
The Knesset's new anti-spam legislation includes any advertisement disseminated to the public at large that asks for a contribution or that constitutes non-commercial propaganda.
August 30, 2016
Trademark Protection: Registration and Enforcement
Part of how any company moves from startup to growing and thriving is to create a recognizable brand under which it operates. The brand provides a way to distinguish yourself with customers, and it all begins with images that you use to represent yourselfand no one elseto the world. To prevent others from using the same or similar images, though, you need to obtain trademark protection. A trademark is a kind of intellectual property protection that lets you defend your marketing ground against others who want to benefit from your symbols and imagery.
August 30, 2016
Apple Must Pay EUR 13 Billion in Back Taxes to Ireland
Adv. Harel Perlmutter, the head of our Tax Department, was interviewed by several media outlets following the European Commission’s ruling that Apple had received unlawful tax benefits over two decades and was therefore required to pay EUR 13 billion in back taxes to Ireland.
August 29, 2016
Extension Order Increasing the Allocations to Pension Insurance and Amendment to the Control of Financial Services
After about a year of uncertainty about the pension insurance allocation ratios according to Amendment number 12 to the Control of Financial Services (Provident Funds) Law of August 2015, the matter has recently been resolved.
August 28, 2016
Amendment of the Income Tax Ordinance – Information Exchange Between Tax Authorities
An amendment to the Income Tax Ordinance that was recently enacted obligates financial institutions to identify the residency and citizenship of their foreign account holders. The financial institutions are required to report the information to the Israel Tax Authority, so that the ITA can then relay that information to the relevant foreign tax authority.
August 25, 2016
Mistakes Early-Stage Entrepreneurs Should Avoid
Adv. Ariella Dreyfuss will lecture to early-stage entrepreneurs who participated in starTAU's Elite Entrepreneur Program. Her lecture will address founders' agreements and what pitfalls new startups should avoid.
August 25, 2016
Human Resources Forum Half Year Event
The head of our Employment Department will participate in the Human Resources Forum Half Year Event on September 14, addressing employment terms for the weekly rest period.
August 25, 2016
New Superior Court Ruling Regarding Taxation of Non Compete Benefits
After years of district courts issuing contradictory rulings, the Supreme Court recently resolved the ambiguity surrounding the classification of compensation in respect of non-competition covenants when employees leave employers.