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Latest Updates / Corporate
December 4, 2017
Israel Weighing Tax-policy Options After U.S. Senate Approves Dramatic Tax Cuts
Micky Barnea was interviewed by TheMarker regarding the effects on Israeli corporate tax following the U.S. Senate's approval of tax cuts that would lower the corporate rate to 20% from 35%, a move that has left Israel’s headline rate three percentage points higher.
November 27, 2017
ITA Publishes New Draft Circular on Sale of Rights in Corporation
The Israel Tax Authority published a draft circular today about a sale of rights in a corporation when a portion of the consideration is paid to the seller at a future date.
November 22, 2017
Hosting a Delegation of British Executives in Israel
UK Israel Business is a bilateral chamber of commerce that connects British and Israeli businesses across all sectors. As part of its activity, it invited a delegation of British executives to Israel. The delegation came to explore possible investment avenues in technological projects, and visited entities in the technology scene. A final event for the delegation was held in our offices.
November 20, 2017
Precedent Set regarding Class Actions against Dual-Listed Companies in Israel
In a precedent-setting ruling handed down recently in the Tel Aviv District Court a motion to certify an action as a class action, which was filed against Tower Semiconductor Ltd. and its officers, was dismissed in limine based on the rationale that US law applies to the company in relation to the matter of liability, since Tower is also listed for trading in the United States.
November 9, 2017
Zvi Gabbay Interviewed on London et Kirshenbaum about Investigation against Bezeq
Dr. Zvi Gabbay, Head of the Capital Markets Department, was interviewed on the TV program London et Kirshenbaum about the investigation against Bezeq. He noted that the Israel Securities Authority invested considerable efforts in completing the investigation quickly because of the case's wide public implications. (Starting from min' 05:40)
November 7, 2017
Fintech: Challenge and Potential
Fintech combines for the first time the worlds of financial services and technology, as banks and insurance companies serve as fintech’s main playing fields. As such, both sectors must become more efficient and acquire the technological solutions that will help them fulfill their roles.
November 5, 2017
EU Privacy – Which Jurisdiction Applies?
In an opinion issued to the European Court of Justice, the Advocate General of the Court stated that according to current legislation, any data protection authority in the European Union can take action against a breach of the privacy legislation enforced by that authority, even if the entity alleged to have contravened the legislation is located in another Member State.
November 2, 2017
Barnea & Co. represents the controlling shareholder in Lapidoth
As part of the control struggle over the A.D.O Group, our firm was chosen to represent Jacob Luxembourg, the controlling shareholder in Lapidoth. With the assistance of Adv. Micky Barnea, Mr. Luxembourg sent a letter of warning to all the directors of A.D.O Group, claiming the company's joint control agreement, signed between Shikun and Binui, the Apollo Fund, and the Dayan family, is damaging it.
November 1, 2017
Hosting a Seminar on Marketing and Distribution Agreements
Barnea is hosting together with TITANBrandWise a seminar today on marketing and distribution agreements. Adv. Ilan Blumenfeld of the Commercial Department will discuss the important aspects of such agreements and how to make them work for you.
October 26, 2017
Hosting a Delegation of Investors from Mexico
Barnea hosted today a delegation of Mexican investors who came to Israel to find investment opportunities. Adv. Micky Barnea, the firm's Managing Partner, met with the delegation and spoke about the Israeli ecosystem.
September 28, 2017
Hosting a Delegation of Chinese Executives
We are hosting today a delegation of senior executives from large enterprises across a variety of industries in China. These executives have come to Israel to learn about Israeli innovation and entrepreneurship.
September 19, 2017
ICO Whitepaper
ICO is the abbreviation of Initial Coin Offering, a term inspired by the capital market term IPO (Initial Public Offering). This is when a company recruits debt or capital by publishing a prospectus offering of its securities to the public for the first time. A prospectus is a profound legal and accounting document that furnishes information about the company, its management, its businesses, and its financial position. Once a company’s securities are held by the public, it becomes a public company.
September 18, 2017
Article to The Times of Israel on the "Drag along Provision"
Adv. Ariella Dreyfuss, Partner at Barnea contributed an article to The Times of Israel on the "drag along provision" included in most investment documents. Ariella outlines five tips for minority shareholders looking to ensure the drag along mechanism works for them when negotiating investments.
September 7, 2017
Deliver a Strong Value Proposition to Raise Funds Effectively
When you are ready to raise money to begin or expand operations for your startup, you cannot just ask and wait for money to pour in. Todays investors are savvier than ever. They need to understand the value you create, for investors and for the market your company will serve. You need to understand your business model thoroughly, but you should also prepare concise answers to the questions any smart investor will ask.
August 21, 2017
Transfers of Data Base in M&A Transactions
The Israeli Law, Information and Technology Authority (ILITA) recently published a new draft directive regarding the handling of customers’ personal information (which is organized as a registered database or as a database under compulsory registration) when it is held by an acquiree company and is being transferred to the acquirer company within the scope of a merger or acquisition transaction.
August 16, 2017
Risks in Boards of Directors’ Work
“How did the board approve this?” Headlines like this pop up each time it is announced the Israel Securities Authority is investigating a public company’s transactions with its controlling shareholder, such as the latest allegations of deals between Bezeq and its controlling shareholder. But the real question that should be asked is, Was the board given the right tools to perform its work?
August 16, 2017
Dr. Zvi Gabbay talks SEC allegations against Mobileye founders with TheMarker
The US Securities and Exchange Commission (SEC) recently filed a lawsuit in a US court against an Israeli citizen and an American citizen for the use of inside information to acquire shares and options at Mobileye. The lawsuit alleges, among other things, that Mobileye's founders supplied information about the huge deal being forged between it and Intel. Dr. Zvi Gabbay, head of the Capital Markets Department at our firm was interviewed by TheMarker on the subject. He explained the differences between the enforcement process in Israel and the US and the relationship between civil enforcement by the SEC and criminal enforcement by federal prosecution.
August 7, 2017
Supreme Court Precedent – Companies Have the Right to Independent Standing during a Derivative Suit
A significant precedent was handed down recently by the Israeli Supreme Court, whereby a company’s separate and independent standing must be recognized, even after a motion for a derivative suit has been approved.
July 26, 2017
Adv. Ariella Dreyfuss to lecture at the Bengis Center for Entrepreneurship & Innovation
Adv. Ariella Dreyfuss will lecture today to the participants of the international program of the Ben-Gurion University Innovation Program on the topics of founder agreements, IP and investment agreements.
July 25, 2017
Barnea & Co. represented Industries Centers EOD in the acquisition of control by US company ADM
The acquisition of control by US company ADM of Israeli company Industries Centers EOD—which imports and markets animal feed, processes seeds, and stores emergency inventory for the state—has been completed. The company was represented by Advs. Micky Barnea, Yuval Lazi, Ilan Blumenfeld, Sagi Gross, and Daniel Kleinman.