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August 20, 2020
Israeli M&A players take note, the Warranty & Indemnity (W&I) Insurance market has matured.
This has opened the door to an era of massive discovery of thousands different kinds of documents of between the parties (Word documents, PDFs, Excel spreadsheets, emails, photos, and audio files), which was uncommon in the days of paper and binders.
August 20, 2020
A Startup Guide to the US Market
Adv. Daniel Lorber was invited to speak at a meetup hosted by Tech7 and Nisha Global for businesses exploring new markets abroad. He discussed the differences between US and Israeli business cultures.
August 19, 2020
Lecture to Compliance Officer Training Course
As experts in the compliance field, we were invited for the fourth straight year to lecture a compliance officer training course organized by the BDO Academy of Finance and MITIGATE. This unique practical course is geared to compliance officers in international financial organizations. During the lecture, we discussed administrative enforcement and enforcement plans.
August 17, 2020
Adv. Niv Polani 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.
August 13, 2020
Supreme Court Reduces Protection for New Apartment Buyers
A recent Supreme Court ruling held that a warning note could not serve as security for apartment buyers in a TAMA 38 project in Ramat Gan after the developer went bankrupt. In an interview with Calcalist, our firm explained the implications: “In dozens of TAMA 38 projects across Israel, a warning note was the only security buyers received to protect their investment. It is important to emphasize that the ruling concerns the specific circumstances of this case, in which the contractor became insolvent and the warning notes constituted an ‘onerous asset’ that impeded completion of the project.”
August 11, 2020
Using Open Source in Your Business? Beware the Fine Print
Open source code is written by developers and for developers. The concept behind open source is to allow access to many developers and promote collaboration between them.
August 11, 2020
Israel Securities Authority: Distributors May Be Liable for the Contents of a Prospectus
The Israeli Securities Authority has announced that distribution entities now may be liable for the contents of a prospectus. In a staff position paper published in late July, the ISA changed the rules of the game in the underwriting field by determining that a distributor, or an entity associated with a distributor, that purchases securities during an issuance and sells them within a short period of time (six months or less) shall be viewed by the ISA as an underwriter and shall be liable for the prospectus.
August 10, 2020
Real Estate Investors: What to Know About Purchasing an Apartment Following the Decision to Lower Purchase Tax Rates
The Ministry of Finance has announced reduced tax rates for the purchase of an apartment for investment. How much will you pay and how can you choose the right tax payment route for you? Check out Adv. Liat Keisary’s guide for investors published by Mako.
August 10, 2020
Establishment of New Investment Fund in Asia
Meitav Dash’s Liquidity Fund will partner with MUFG Bank, Japan’s largest bank, to establish a private investment fund in Asia. Incorporated in Singapore, the fund will provide credit to Asian companies through transactions that securitize future cash flows. Adv. Roy Engel and Adv. Yuval Lazi led our firm’s advice to Liquidity, which will provide management and underwriting services to the joint venture.
August 5, 2020
Barnea Represents Topaz Family in Sale of Holdings in Keystone Group
Approximately a year and a half after Accelmed, the investment fund managed by Uri Geiger, announced the merger of its US-based portfolio company, Keystone Group, with Israeli company Paltop, controlled by Shmuel Topaz, Accelmed is acquiring all remaining holdings in Paltop for ILS 100 million. The transaction resolves the dispute between the Paltop and Accelmed investor groups. Our firm represented the Topaz family and Paltop’s investors.
August 4, 2020
Service Users Must Now Hold Hearing Procedures for Service Providers’ Employees
The National Labor Court recently handed down an important ruling that concerns many employers in the market engaged with service provider companies. The National Labor Court ruled that although there were no employee-employer relations between the employee and its employer in this matter, the service user still had to take part in the employee’s termination and hearing process, in addition to the obligation of the direct employer to hold the hearing.
August 3, 2020
Barnea Represents Azrieli Group in Launch of New Fashion Website
Azrieli Group and MGS have launched an online retail platform for fashion and footwear, marking the first time Azrieli has established a joint venture with a retailer. Adv. Sagi Gross led the transaction.
August 2, 2020
What Employees Need to Know About Stock Options
In a short video, Adv. Yuval Lazi explains the guiding principles in granting options, how you can estimate how much the options are worth, and what is important for an employee to know when he receives options.
August 2, 2020
It Is Time to Come Back Home: Investors Can Now Enjoy a Reduced Purchase Tax
Israeli Minister of Finance Israel Katz’s plan to reduce purchase tax for investors has gone into effect. Until now, under plans advanced by the previous Minister of Finance, Moshe Kahlon, for lowering housing prices and pushing investors out of the real estate market, the purchase tax for investors went up from 5% to 8% for an apartment that was not the purchaser's sole apartment.
July 30, 2020
Expanding to International Markets – Is Your Business Ready?
Adv. Micky Barnea was invited to be a guest speaker in a webinar held on July 30 presented together with CoWrks Foundry, an India-based accelerator, RIHub, US-based innovation hub, and Brown University. Micky discussed the legal aspects of introducing a startup to the international market.
July 29, 2020
Labor Law - An Important Update for Employers
There have been a few recent updates to statutory provisions and administrative procedures regarding employees and employers during the COVID-19 outbreak.
July 29, 2020
Privacy Evolution: Europe v. Israel
A July decision by the Court of Justice of the European Union has established that in light of the fact the United States does not respect the privacy of its citizens in accordance with EU standards, the Privacy Shield mechanism allowing for personal data transfers between Europe and the US can no longer be relied upon. At the same time, in Israel, the Ministry of Justice has published a memorandum that constitutes the first step in adjusting existing law to the digital age.
July 27, 2020
COVID-19's Effect on Completing Transactions
Many steps go into completing MA transactions. Now, with the COVID-19 outbreak, companies are taking this time to modify and sometimes even cancel transactions. What is behind the delay in completing transactions, and on whom to take the risk? Globes interviewed MA expert Micky Barnea on the subject.
July 27, 2020
Barnea Represents Britannica Knowledge Systems in USD 70 Million Deal with US Army
Adv. Yuval Lazi and Adv. Uri Hillel of our firm represented Britannica Knowledge Systems, a world-leading provider of advanced solutions for training management and professional competence, in a USD 70 million contract for the supply of the FOX system to the United States Army.
July 23, 2020
Apartment Sale Delayed because of COVID-19? Home Upgraders Eligible for an Extension
Apartment owners experiencing difficulty selling their old apartments are entitled to a seven-month extension in which to sell, and the Israel Tax Authority will not count this period for tax purposes.