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Latest Updates / Corporate
July 19, 2017
Adoption of Business Judgment Rule - A new article by Dr. Zvi Gabbay
Adv. Zvi Gabbay's article deals with the ruling handed down by the Israeli Supreme Court at the end of December 2016, in the Bezeq case, in which the Supreme Court adopted the protection granted to decisions of the board of directors by applying the business judgment rule. The article seeks to examine whether this ruling achieved one of its main objectives—legal certainty.
July 2, 2017
Barnea & Co. represented Johnson & Johnson regarding its investment in the startup, DayTwo
Barnea represented Johnson Johnson in respect of its investment of USD 12 million in the startup, DayTwo, which provides personalized nutrition recommendations based on mapping and analyzing the composition of intestinal bacteria.
July 2, 2017
Barnea & Co. Represented Avgol in the Sale of its Rights in the Barkan Plant
Barnea represented Avgol in the sale of its rights in the Barkan plant for NIS 52.5 million. Avgol is in the process of transfering its production center in Israel to Dimona.
June 25, 2017
Board of Directors 2017 - Challenges and Risks
Barnea, in cooperation with the Israel Director Union, is hosting a seminar on the challenges and risks in the functions of a Board of Directors. Micky Barnea, our Managing Partner, will discuss the risks in the functions of the board of directors. Dr. Zvi Gabbay, Partner and Head of the Capital Markets Department, will deal with corporate governance and enforcement programs.
June 22, 2017
Financial Radio Program at the Public Broadcasting Corporation
Dr. Zvi Gabbay, Head of the Capital Markets and Financial Regulation Department at Barnea was interviewed on a financial radio program at the Public Broadcasting Corporation following the investigation of the heads of Bezeq and explained how the Securities Authority is investigating. (starting at min' 12.06)
June 21, 2017
New Court Decision on Transfer Pricing Taxation
New court decision on transfer pricing taxation may shift structuring of MA transactions from shares to assets.
May 24, 2017
Class Action Against Israeli Company Offering Securities Abroad – Not in Israel
It is not uncommon for Israeli incorporated companies to seek investments abroad. In many cases, such investments are done through public offerings on international stock exchanges. Securities issued by Israeli companies are traded on the NASDAQ, the London Stock Exchange and a variety of other exchanges, including Australia. These situations, which make perfect sense from a business perspective, give rise to interesting and sometimes quite complex legal issues.
May 21, 2017
Insolvency in a Nutshell
Insolvency proceedings are an integral part of business-commercial activities, in circumstances whereby a person or corporation might need to institute proceedings to rehabilitate its business activities or even to liquidate the company.
May 14, 2017
The Court Orders Controlling Shareholders to Stop Payment of Executive Remuneration
There have been cases where bonuses have been paid by a controlling shareholder of a public company out of his own pocket to officers as remuneration for their work in the company. This raises the question as to whether a controlling shareholder is allowed to personally guarantee additional remuneration to officers of the company that is inconsistent with the company’s remuneration policy.
April 30, 2017
Ten Golden Tips for Distribution Agreements
Distributors, agents, resellers and OEM partners all share the same commercial function of selling goods to end users. Thus, although there are significant differences between the legal statuses of each of these players, this article below treats all of them collectively as distributors.
Appointing a distributor involves significant inherent risks. The drafting of the distribution agreement may help in mitigating these risks and realizing the potential benefit of your relationship. While formulating distribution agreements you should pay special attention to the following key issues:
April 5, 2017
Barnea & Co. represented Avgol in issuance of a New Series of Bonds
Barnea represented Avgol Industries 1953 Ltd in connection with the issuance of a new series of bonds in the amount of NIS 197 Million. Avgol is one of the biggest manufacturers in the world of non-woven fabrics for the hygiene market. Its securities are traded in the leading indices on the Tel Aviv Stock Exchange.
April 4, 2017
Barnea & Co. Represented Viola Credit in the Acquisition of Negev Ceramic
Barnea represented a group of investors, led by Viola Credit, in the acquisition of Negev Ceramics from creditor banks. Viola was represented by Adv. Michael Barnea, Adv. Ilan Blumenfeld, and Adv. Sagi Gross.
March 29, 2017
Barnea & Co. Represented Viola Private Equity in an Investment in Similar Web
Barnea represented Viola Private Equity in an investment of USD 50 million in Similar Web, a leading digital market intelligence platform that provides insights for websites and applications.
March 2, 2017
Antitrust Authority Continues its Trend of Stricter Punishment
The Israel Antitrust Authority (‘’IAA’’) has announced its intention to impose a financial sanction in the sum of NIS 25,640,000 on Bitan Wines, due to its violation of the terms of the merger between Bitan Wines and the Mega supermarket chain.
February 27, 2017
Class action against Directors
The Tel Aviv District Court approved an action as a class action filed by the minority shareholders of Delek Energy Systems Ltd. against its controlling shareholder and officers of the company.
February 21, 2017
Does the US Visa Boom Herald New Opportunities for Law Firms?
Adv. Marie Tsion, Head of the Employment Department at Barnea was interviewed by The Lawyer regarding the effect of the E-2 visa programme on the legal market. Marie commented that the E-2 investor visas will allow US companies, entrepreneurs and employees to start business activities in Israel more easily. This visa is likely to increase the number of US companies establishing activities in Israel.
February 15, 2017
Delegation of Israeli ambassadors in Latin America
Barnea is today hosting a delegation of Israeli ambassadors who are stationed in Latin America, together with the Latin America division of the Israeli Ministry of Foreign Affairs, the Israel-Latin America Chamber of Commerce and StarTau, the Entrepreneurship Center of Tel Aviv University.
February 12, 2017
Barnea & Co. will accompany Accelerator Frankfurt Spring Program
The Accelerator connects Startups with Financial Institutions. Barnea Co is the firm which will provide legal services in Israel to the startups attending the Program in Frankfurt. On 12th February we will be holding an introductory event at which the Accelerator will describe the nature and aims of the Program and Micky Barnea will discuss the challenges for startups heading abroad. The event will be take place at Barclay's Techstars Accelerator.
February 12, 2017
Foreign Companies are Immune to Private Antitrust Enforcement in Israel
Despite the growing sensitivity to violations of the competition laws and the uptrend in the imposition of stricter penalties by the authorities in respect thereof, business managers and consumers who have fallen victims to competition-law offenses in Israel hesitant in instituting civil proceedings against offenders.
February 5, 2017
Doing Business in Israel – Practical Law
Doing Business in Israel? A QA guide to doing business in Israel written by Barnea was published in the Practical Law website. The guide gives an overview of the legal system, foreign investment, regulation, and other issues pertaining to Israel.