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Latest Updates / Corporate
September 15, 2020
“It’s A New World Out There – Hedge Funds Navigating COVID”
As part of our legal counsel to the Israel Hedge Funds Association, we are proud to be involved in the IHFA's 8th Annual Conference. The theme of the conference is “It's A New World Out There – Hedge Funds Navigating COVID.”
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 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 10, 2020
Providing Counsel in the Establishment of a New Investment Fund in Asia
Liquidity Fund of Meitav Dash will establish with MUFG Bank, the world’s largest Japanese bank, a new private investment fund in Asia. The new fund will be incorporated in Singapore, and will provide credit to companies in Asia, through securitization transactions of future cash flows. Our firm, led by attorneys Roy Engel and Yuval Lazi, accompanied Liquidity, which as part of the agreement will provide the joint company with management and underwriting services.
August 5, 2020
Barnea Representing Original Shareholders the Topaz Family in Sale of Holdings in Keystone Group
About a year and a half after the investment fund Accelmed, which is managed by Uri Geiger, announced the merger of the company it controls, American Keystone Group, with the Israeli Paltop company, controlled by Shmuel Topaz, it is now acquiring the entire holdings in Paltop for NIS 100 million. This ends the conflict between the investor groups of Paltop and Accelmed. We represented the Topaz family and the Paltop investors.
July 30, 2020
Expanding to International Markets – Is Your Business Ready?
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 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
Representing Britannica Knowledge Systems in USD 70 Million Deal with US Army
Advs. Yuval Lazi and Uri Hillel of our firm accompanied 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 22, 2020
Webinar: How to Make a Difference
The Tel Aviv University Entrepreneurship Center begins today its series of summer lectures. "Summer Entrepreneurship" is a weekly program that invites four experts to talk about various topics related to entrepreneurship. The opening webinar today will host four experts in the high-tech field in Israel, including Micky Barnea. Micky will discuss the entrepreneurial relationship and why it is critical to a venture's success.
July 16, 2020
COVID-19 Cross-Border Briefing: Updates
Our firm was chosen to provide the Israel section of a briefing on governmental measures taken during COVID-19 in key jurisdictions. The publication offers a general summary of the law and is aimed to assist businesses through these ever changing times.
July 14, 2020
Does Covid-19 Void Contracts?
The inter-ministerial team assembled to examine the consequences of the Covid-19 crisis on contractual agreements has recently published its recommendations.
July 12, 2020
Dividend Distribution in Times of Covid-19
The recent dividend distribution by TASE-traded company Fox-Wizel Ltd. after receiving emergency funding from the Israeli government not only raised moral questions but also underscored the complexity facing many companies at this time. Globes published an op-ed by Micky Barnea in response to the backlash following the company's actions. Micky noted that a key challenge faced by companies is how to balance between dealing with the difficulties and uncertainties of the COVID-19 era, on the one hand, and the desire and responsibility to continue operations as commercial enterprises, on the other.
June 28, 2020
Down Round Fundraising – Not At Any Valuation
A recent decision by the Economic Division of the Tel-Aviv District Court has emphasized the requirement for officers and decision makers in a company, to undertake a stricter review standard when making decisions, especially in conflict of interest situations. Accordingly companies must now increase the scrutiny on the decision making of directors in private companies, an important decision in light of the current economic climate.
June 22, 2020
Barnea Represented Cyberx Shareholder in Microsoft Acquisition
We represented Inven Capital, a Czech-based VC fund and a shareholder in Cyberx Israel, an Israeli IoT ICS cybersecurity startup, in Cyberx's sale to Microsoft for USD 165 million. CyberX has gained tremendous customer growth, with a number of leading companies using its IoT security platform to protect their web facilities. Cyberx has raised about USD 48 million since its inception in 2013. This is Microsoft’s eighth acquisition in Israel in the last decade.
May 20, 2020
Doing Business in Israel – Practical Law
This year, we were once again responsible for preparing the QA guide on doing business in Israel for the Practical Law website. The guide provides an overview of recent key developments that have affected doing business in Israel, including the legal system, foreign investment, employment, tax, competition, privacy, IP, etc.
May 13, 2020
Legal Options for Israeli Companies Operating in the U.S.
How Israeli companies operating in the U.S. can use COVID-19 as a force majeure and the restructuring of debt in chapter 11 bankruptcy ?
May 7, 2020
FIMI Acquires Control of Amiad Water Systems
FIMI Opportunity Funds, a private investment fund, recently completed the acquisition of control of public company Amiad Water Systems Ltd. Micky Barnea represented Hachoshlim Fund Cooperative Agricultural Society Ltd., Amiad's largest shareholder, in the deal. As part of the deal, FIMI agreed to invest about USD 19 million in Amiad for a share allocation, thereby acquiring 5% more of the company's shares.
May 5, 2020
Barnea Represents Surf in Sale of Video Division to Lytx
Lytx Inc., an American fleet management software developer, has acquired the video division of the Israel-based company Surf Communications, to serve as its Israeli RD center. Surf, founded in 1996, develops multimedia digital signal processing technologies for telecommunication infrastructures. Firm partners Micky Barnea and Ariella Dreyfuss represented Surf in the deal valued at between $20-30 million.
May 3, 2020
Capital Markets in the Age of Coronavirus
An MA expert, Micky Barnea was interviewed by the leading newspaper Globes as part of an extensive analysis on the long list of major deals that are being canceled and the financial uncertainty in this period. The article highlights how huge corporations are able to afford what little companies and the self-employed can only dream of. According to Micky, "Starting in February, we noticed a phenomenon in which time has become elastic. Usually people strive to keep deals at a steady pace, and once the handshake is made, they want to move faster. Now, less people are hurrying to complete a deal. They are taking time to see what will happen next in the market.”
April 30, 2020
Startup Funding in the Coronavirus Era
Get up in the morning, go to work, sit in meetings, pick up the kids from school, go to the grocery store, work out at the gym, or just meet up with friends and family. Its hard to believe that until a few weeks ago this described a normal day for most people. Its clear today that no matter where we work, our age, and where we live, the reality of our lives, both personally and professionally, has changed immeasurably thanks to the new player in the market-the coronavirus.