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Latest Updates / Startups
October 29, 2015
"Dos and don'ts" in employees agreements: recommended modifications in light of Court decisions.
Barnea 's head of Labour department was interviewed by Globes. We described what employers should be including in employee agreements.
October 25, 2015
New Securities Regulations – Reporting Negotiations and Delaying Reporting
As part of its endeavor to streamline public reporting and ease some of the regulatory burden imposed on publicly listed companies, the Israeli Securities Authority (ISA) this week introduced an amendment to the Securities Regulations governing periodic and immediate reports. The amendment deals with a number of issues, including reporting on agreement negotiations and the companies’ right to delay public reporting.
October 12, 2015
Barnea & Co. represents AFI group
We represent the AFI group in a transaction for the construction two office buildings in Romania. The matter value is 50 Million Euro
October 8, 2015
Casino in Israel?
The Israeli Prime Minister, Benjamin Netanyahu, has instructed the Transport Minister and the Tourism Minister, to evaluate the possibility and ramifications of establishing a brick and mortar casino in Eilat, one of Israel's main touristic destinations. The review will look into, inter alia, the economic potential of establishing such a casino, the impact it would have on Eilat and the potential social risks involved.
October 6, 2015
The new R & D Law in Israel
On July 29, 2015 the Knesset passed an Amendment to the Encouragement of RD in the Industry Law.
Micky Barnea, who specializes in advising companies of all sizes and from all industries: venture capital funds, entrepreneurs, and Israeli and international investors in technology and life sciences, refers in "Globes" on the benefits of the new R D Law.
October 6, 2015
Barnea & Co. represented Bruker Nano
Barnea represented Bruker Nano, an American company, traded on Nasdaq, in its acquisition of Jordan Valley Semiconductors for $53m.
The acquisition uniquely positions Bruker to offer unmatched solutions for advanced problems in nanotechnology research and semiconductor metrology.
Adv. Simon Jaffa and Adv. Daniel Lorber represented the client.
September 29, 2015
The Supreme Court: "A foreign company can be liquidated in Israel".
A precedential ruling by the Supreme Court has held that a foreign company can be liquidated in Israel.
Adv. Zohar Lande commented on this decision as follows: "The Supreme Court has extended the existing boundaries of the application of Israeli liquidation law to foreign companies."
September 28, 2015
Israel Opens New Casino Inquiry With Netanyahu Backing
Following the declaration by Israeli Prime Minister, Benjamin Netanyahu, regarding the possibility of opening for the first time of a casino in Israel, the exclusive Gambling Compliance Magazine interviewed us. Our Head of Internet Department states that: "There is a higher probability for this to succeed this time. The reason for that being that due to the economic situation in Israel (and generally in the world), the government is seeking additional sources of income, which a casino could bring."
September 8, 2015
"Lishtot" wins StartUp Open Israel competition
The winner of the "Start up Open" competition is "Lishtot" an Israeli startup which has developed technology that indicates in 2 seconds if water is polluted, thereby reducing the risks of drinking polluted water. The event was held at Hansen House in Jerusalem.
Barnea was involved with the competition from inception for the second year, together with the Jerusalem Development Authority, JNext, the Jerusalem Municipality, the Prime Minister's Office, MIT Enterprise Forum of Israel and others.
September 7, 2015
Israel Tax Authority extends voluntary disclosure program
As expected, the Israeli Tax Authority has decided to extend the temporary order regarding anonymous Voluntary Disclosure.
The Israeli Tax Authority announced that the temporary order regarding voluntary disclosure, which was supposed to expire on September 6, 2015, has been extended.
The temporary order was published a year ago and was limited to one year. The regular procedure has been restricted until 31/12/2016.
In total, last year 3290 requests were submitted, about 60% of them anonymous. In light of this success, it was decided to extend the duration of the temporary order.
Additional information regarding the dates will be announced later.
September 7, 2015
Barnea & Co. represents Tonstate Group
The UK real estate investment company, Tonstate Group, is suing the PBC Group and its partners for GBP 88.5 million (approximately NIS 500 million) in the UK courts.
Tonstate is represented in the UK by the law firm, Rosling King. Zohar Lande of Barneais assisting Rosling King in the action.
September 7, 2015
Lexology Navigator - Employment & Labour
We were chosen to be the author of the Israeli chapter of "Lexology Navigator - Employment Labour".
In this exclusive chapter, we provide a market and regulatory overview in respect of Israel.
Lexology is a web-based service that provides company law departments and law firms with a depth of free practical know-how that would be impossible to produce internally. Lexology has become the pre-eminent online source of legal news, updates and analysis for more than 242,000 lawyers worldwide.
September 2, 2015
New business in ancient lands
As an MA expert who is highly experienced in multi-jurisdictional transactions, Simon Jaffa was interviewed for the August edition of the China Business Law Journal. The article deals with China’s interests in the Middle East. Simon was selected by the Journal to represent Israel in its section on the Middle East on the strength of his prominence in Israel as an expert in the above field. To read the full article, please click here (p.109)
August 30, 2015
New ITA circular, Aug 2015
On August 16, 2015, the Israel Tax Authority published a new circular (number 8/2015), which is effective immediately. The circular presents the new material requisite tests and criteria for recognizing an organization as a ‘public institution’ pursuant to section 46 of the Israeli Income Tax Ordinance. Certification issued to an organization pursuant to section 46 of the Income Tax Ordinance confers a tax benefit, by way of tax credits to donors in respect of donations they grant to that organization, at a rate of 35% for an individual donor and 26.5% for a corporate donor (according to the corporate tax rate).
August 20, 2015
Which employee has a right to have a day off and when – and who must go to work?
Marie Tsion, head of employment department, was interviewed by Globes.
August 19, 2015
Barnea & Co. represented Kibbutz Shefayim
Kibbutz Shefayim filed a request yesterday to the Tel Aviv District Court to declare Yehuda Doron, the former treasurer of Kibbutz Shefayim, as bankrupt, if he does not pay within one week the sum of NIS 14.6 million. This amount represents the majority of the money in respect of which Doron was convicted of theft.
August 19, 2015
How the JOBS Act Changed the Rules of the IPO Game
A few weeks ago, a new law came into effect in the United States that made significant changes to how small companies can raise money.
The Jumpstart Our Business Startups Act (better known by its nickname, the “JOBS Act”) aims to ease the process for startups to seek investments, with a potentially dramatic effect.
Now, two years after the JOBS Act became law, we can look back and see just what effect these changes have had on the process of taking startups through initial public offerings (IPOs), and how this affects Israeli startups.
August 18, 2015
Updates about legislative amendments relating to construction licenses and permits
Amendment 101 to the Building and Planning Law was promulgated in April 2015. The amendment concerns a transfer and expansion of authorities to the local committees and sweeping amendments designed to shorten, streamline and simplify construction licensing.
August 17, 2015
New R&D Law – More Flexibility in Supporting Technological Innovation
On July 29, 2015 the Knesset passed the 7th Amendment to the Encouragement of Research and Development in the Industry Law. The purpose of the amendment is to allow the State of Israel to effectively and efficiently continue its support of the various companies which promote technological innovation and address the current challenges this industry faces in light of the importance of the high tech industry to the Israeli economy.
August 11, 2015
Israel home sales reach all-time monthly record
The Ministry of Finance has published data showing a 42% surge in apartment purchases to a record 16,100 apartments in June. This " wave of sales" is a result of investors trying to buy before implementation of the new purchase tax. Maya Zisser Ben Tal, partner in the real estate department, was interviewed by some leading newspapers and websites – Globes, Calcalist, Ynet and Bizportal, saying that she doubts if the new purchase tax will eventually reduce high prices in the housing market.