Latest Updates

April 13, 2022

Tightening Sanctions on Russia

President Biden’s new executive order increases the restrictions on doing business with Russia.

April 13, 2022

Boards of Directors and Geopolitical Risks – Niv Polani Op-Ed in Calcalist

Global economic strength is adversely affected by geopolitical risks. Corporations have a duty to be prepared. Click to read Niv Polani’s Calcalist op-ed.

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April 10, 2022

The Role of a Court-Appointed Observer at the Board Table

Dr. Zvi Gabbay participated in a "Zichlinskey Hosts" meeting held by SRI Global Group together with the Israel Directors Union.

April 10, 2022

Supreme Court Reverses Decision to Shorten Pfizer’s Viagra Patent Period

Two patents protected Pfizer’s Viagra medication in Israel. When one expired, the district court ruled the second had as well. The Supreme Court, however, determined otherwise.

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April 6, 2022

Representing Amir Birman before Supreme Court

Advs. Hadar Israeli, Eran Elharar, and Shir Rozenzweig represented Amir Birman, one of the directors of Keren Or, in a sentencing appeal. The Supreme Court significantly reduced his sentence and granted him permission to appeal to Israel’s President for a pardon.

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April 5, 2022

Barnea: Representing Kibbutz Shefayim and Yad Hana in Transaction to Sell Land Designated for Logistics Complex

Mivna Group has acquired 50% of the shares of the Yad Hana Homesh Industries Cooperative Association for ILS 140 million. The parties intend to jointly establish an innovative logistics center in a total built-up area of about 100,000 square meters. The client was represented by Advs. Ilan Blumenfeld and Maya Zisser.

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April 4, 2022

Irit Brodsky Featured in Globes Article on Dramatic Changes to Merger Announcements

New Israel Competition Authority regulations impose a heavier reporting obligation on companies seeking to merge. These new regulations have many possible consequences, for better or worse. Firm partner Irit Brodsky discusses the changes in an in-depth article by Globes on the subject.

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April 3, 2022

Amendment to Israel’s Anti-Money Laundering Law

At the end of March 2022, the Israeli Ministry of Justice published a draft amendment to the Prohibition on Money Laundering Law. The proposed amendment seeks to grant supervisory authority to the Israel Money Laundering and Terror Financing Prohibition Authority (IMPA), comparable to that of the Capital Market, Insurance and Savings Authority (CMISA), over financial service providers for aspects of the prohibition on money laundering and terror financing.

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March 30, 2022

Appointment of an Auditor – New Statement on Required Disclosure

According to a new ISA legal position, convening a general meeting of shareholders to vote on a public company’s appointment of an independent auditor requires expanded disclosure.

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March 29, 2022

Complete Guide to the TASE IPO Process

The Israel Securities Authority guides provides basic guidelines to corporations going public and answers critical initial questions.

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March 29, 2022

Representing Menora Mivtachim in Acquisition of Nisko Shares

Our firm represented Menora Mivtachim Insurance Ltd., Shomera Insurance Company Ld., and Menora Pension and Provident Ltd. in a transaction to purchase 15% of Nisko Group's shares for NIS 180 million. Advs. Ilan Blumenfeld and Dor Levi-Tam advised on the transaction.

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March 28, 2022

Representing Granite CEO Accused of Fraud

The Israel Securities Authority arrested and released under restrictive conditions the CEO of Granite Securities Portfolio Management. He is suspected of fraudulently receiving loans from the company's clients, presenting false representations regarding the loans, and presenting false representations of providing investment advice in accordance with the law, at a scale of NIS 6.5 million. The client is represented by firm partner Hadar Israeli.

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March 28, 2022

Significant Change in Format to Report Mergers to Competition Authority

The new format heralds a reduction in the volume of transactions that require reporting. However, it imposes a far heavier burden on parties to transactions that do require reporting, even for mergers posing no competitive concerns.

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March 27, 2022

Secondary Violations and Other Issues – Amichai Cohen Op-Ed in Globes

Professor Amichai Cohen enumerates the sweeping effect of the sanctions regime against Russia, and details important points for businesspersons in Israel.

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March 27, 2022

Regulatory Activism Is Not the Proper Form of Enforcement

Globes has published an op-ed by Dr. Zvi Gabbay commenting on a statement made by a senior official at the Israel Securities Authority regarding the applicability of securities regulation on various types of alternative investments.

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March 22, 2022

Representing Danel Group in Completion of Acquisition of Manor Medical

Advs. Micky Barnea, Ilan Blumenfeld, and Daniel Kleinman from our firm represented Danel Group in the acquisition of Manor Medical, which operates in the surrogacy, egg donation, and medical tourism fields. This transaction constitutes the completion of Danel’s acquisition of Manor Medical based on a NIS 100 million valuation.

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March 22, 2022

International Sanctions on Russia Have Significant Impact on Israeli Private Market

Many transactions in the Israeli market made in dollars also have to go through American banks at some point, and are therefore subject to the American sanctions regime. In an op-ed published by Dun’s 100 Calcalist, Amichai Cohen argues international sanctions against Russia have had a significant impact on the Israeli market, and it appears the time has come for the Israeli government to recognize this.

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March 21, 2022

Hosting a Space Technology Delegation with Business France

Our firm hosted a delegation of French aerospace technology companies. Firm partners Samuel Henry Samuel and Harel Perlmutter discussed various aspects of entering the Israeli market.

March 20, 2022

Ukraine War and International Economic Sanctions

Israeli companies in the “risk zone” must ascertain if they are subject to sanctions and adopt a significant sanctions compliance plan.

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March 17, 2022

Expansion of Night Shift Work Arrangements to Include Single Parents

An amendment to the Employment of Women Law, which went into effect on March 14, dictates that employers may not refuse to hire women or single parents simply because they do not agree to work night shifts due to family considerations.

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