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December 20, 2022

Competition and Antitrust: Gal Rozent and Ran Karmi Article in Calcalist

Money laundering allegations against bid competitors convicted of coordinating a tender (coupled with charges of competition law offenses and fraud) may lead to aggravated penalties compares to those imposed on “regular” antitrust offenders. The Competition Authority’s decision to freeze and confiscate assets by virtue of Israel’s Anti-Money Laundering Law will exert heavy pressure, both financial and mental, on those under investigation and indictment. Read Gal Rozent and Ran Karmi’s article on the issue in Calcalist.

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December 19, 2022

Can DeFi Use Exempt a Project from Compliance?

Activity in the form of financial decentralization (Decentralized Finance - DeFi) does not exempt from requirements in the field of prevention of money laundering prohibition or compliance with sanctions. It turns out that DeFi is subject to the same "laws of gravity" as projects in the traditional financial industry.

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December 19, 2022

What New Sanctions Might Be Imposed on Israeli Companies Doing Business with China?

The tightrope Israel has been walking in the relationship between the United States and China was recently stretched even further, as the US continues to pursue policies aimed at making it difficult for its allies to cooperate with China. In an interview with The Jerusalem Post, Prof. Amichai Cohen, our firm’s of counsel on international law, details the difficulties and limitations for Israeli companies doing business with China.

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December 18, 2022

Exceptional Workplace Bullying Compensation Awarded to an Employee in Israel

The Israeli National Labor Court awarded ILS 300,000 to the employee after a regional labor court awarded the employee only ILS 60,000.

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December 18, 2022

Representation in Class Action for Polluting Ashalim River

Following pollution to the Ashalim River and its surrounding areas in 2017, three plaintiffs filed a class action against Rotem Amfert, a subsidiary of ICL Group, for NIS 400 million. The plaintiffs demanded compensation for the ecological damage caused to the area.

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December 15, 2022

Regulation: Potential Pitfalls in Phoenix Group’s Purchase by Abu Dhabi’s ADQ Fund

Anat Even-Chen, a partner and the head of our firm’s Regulation Department, was interviewed by Calcalist to shed light on the proposed acquisition. According to Anat, there is no legal prohibition in Israel on foreign ownership of an insurance company, but, in the past, the Capital Market, Insurance and Savings Authority rejected a deal in which a fund owned by the Chinese government wanted to acquire control of the Clal insurance company.

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December 15, 2022

Intricacies of SAFEs (Simple Agreement for Future Equity)

Contrary to its title, as a Simple Agreement for Future Equity, a SAFE may not be as simple as it seems, and it has complexities.

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December 14, 2022

FTX’s Collapse and the Golden State Warriors – Dr. Zvi Gabbay Interviewed by Finance Magnates

Following the collapse of FTX, several lawsuits were filed against the NBA’s Golden State Warriors, which had entered into cooperation agreements with the now-defunct crypto company. According to Dr. Zvi Gabbay, the plaintiffs must provide at least preliminary indications that the basketball team was aware of or should have been aware of FTX’s wrongdoing. According to Zvi, he saw no hint of any such indications.

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December 13, 2022

Tax Guide for New Immigrants – Harel Perlmutter Article for MIGNEWS

Harel Perlmutter, the head of our firm’s Tax Department, details the tax benefits for new immigrants to the Russian language news website MIGNEWS.

Read the article in Russian

December 13, 2022

New Israeli Privacy Protection Regulations for European Citizens’ Data

New privacy protection regulations drafted by the Israeli Ministry of Justice will obligate Israeli entities to protect data reaching Israel from the European Economic Area, i.e., from EU member states and Iceland, Norway, and Liechtenstein.

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December 13, 2022

ISA – New Obligations for Foreign Brokerage Service Providers

The Israel Securities Authority’s (ISA) new draft amendment to the general permit to offer foreign brokerage services in Israel proposes to obligate permit holders to supervise the activities of marketers on their behalf. For example, permit holders must carry out due diligence examinations of marketers.

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December 12, 2022

Harel Perlmutter Serves as Speaker at Tax and Capital Market Conference 2022

Harel Perlmutter, head of our firm’s Tax Department, served as a speaker at the Israeli Association of Public Companies’ annual Tax and Capital Market Conference, where he discussed tax challenges for 2023.

December 8, 2022

From Agricultural Lands to Business Projects: How to Overcome Challenges along the Way

Agricultural communities in Israel are far from realizing their inherent business potential. Regulatory restrictions force such communities to be selective in choosing the transactions proposed to them and to maintain informed and long-term thinking about their priorities and the alternatives. What is the best way for them to realize their potential?

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December 7, 2022

Stock Market Skeletons: Dudi Cohen Interview with Globes

Stock market skeletons are raising their heads. Recently, several skeleton companies have announced talks about merging with private companies who have substantial activity. Dudi Cohen, head of our firm’s Finance and Public Corporations Department, was interviewed by Globes on the phenomenon. He shed some light on the issue of stock market skeletons and the legal problems that may arise as a result.

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December 5, 2022

Hagit Ben Moshe Interview with TheMarker on Purchasing Agricultural Land

Israel’s housing crisis has increased the attractiveness of purchasing unimproved agricultural land. Hagit Ben Moshe, head of the firm’s Kibbutz Sector Department, was interviewed by TheMarker on the complexities of purchasing such land for investment. She shed light on the many risks that can accompany these types of deals.

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December 4, 2022

Closing a Deal – Transaction Closing in the World of Malls and Chain Stores

Terry Almozlino-Arnon, Alon Wolner, and Irit Brodsky are participating in a panel on how to successfully complete mall real estate transactions and commercial tenders. The panel is being held as part of the Israel Mall Chain Store Conference held in Eilat.

December 4, 2022

Court Rules: Despite Substantial Defects, the Amutah will not be liquidated

While substantial defects were found in the nonprofit organization (amutah), the court accepted and approved a settlement. Issuing a dissolution order to the amutah would have affected a large community of people that require its services.

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December 4, 2022

New Ruling on How to Conduct Sexual Harassment Investigations

The Israeli National Labor Court’s ruling indicates there is no fixed or standard format for the proper conduct of an investigation pursuant to the Prevention of Sexual Harassment Law. Rather, complaints should be clarified within their specific context and considering the unique issues that arise during the process.

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December 4, 2022

Barnea: Representing Convent Capital in its Investment in BeeHero

Our firm represented Convent Capital, a private equity firm based in Amsterdam, in a USD 42 million funding round in BeeHero. The Israeli startup BeeHero is developing a platform for bee pollination and owns the largest database of bees and pollen in the world.

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December 1, 2022

Effects of Trade Agreement between Israel and Japan – Amichai Cohen Op-Ed in Maariv

Israel and Japan have announced negotiations to sign a free trade agreement. In an op-ed for Maariv, Professor Amichai Cohen, an expert in the field of international law, explains how such an agreement will affect the Israeli economy.

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