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January 15, 2014
IAA transcripts from the Strauss - Cadbury investigation has been revealed
Carmit's civil suit is partly based on records and documents collected by the Antitrust Authority in during its investigations. The following was submitted by Adv. Zohar Lande, Adv. Shai Sharvit and Adv. Moran Bickel, from Barnea, to the Tel Aviv District Court.
January 9, 2014
Developments in the Carmit Candy Ltd. action against the Strauss Group
Important information is currently being unveiled at the Central District Court regarding the ways in which the Strauss Group was allegedly attempting to block Cadbury from entering the Israeli Market in 2002. To read more, please click here
January 5, 2014
Opinion - Privatization pursuant to Encouragement of Competition and the Reduction of Concentration law
The article below addresses the privatization chapter of the newly enacted law for the encouragement of competition and reduction of concentration in the Israeli market. The chapter inter alia restricts the State from granting rights to and engaging with entities, which already have received rights from the state and thus deemed to be "concentrational".
Adv. Lande argues that the chapter is far reaching, leads to uncertainty in the market and may prevent the effective allocation of rights in the future, all of which will have a detrimental effect on the market. To read more, please click here
December 29, 2013
Michael Barnea was participate in a panel of Competition experts - by Calcalist
After the Law for the Encouragement of Competition and the Reduction of Concentration was enacted, Calcalist convened a panel of experts, including Michael Barnea, in order to discuss the powers of the Antitrust Commissioner.
December 25, 2013
Israel Amends Controlled Foreign Corporation Tax Regime
Israel's Knesset on December 23 approved amendment 198, revising section 75B of the Income Tax Ordinance, 1961 (ITO) to further ensure the taxation of controlled foreign corporations. The amendment entered into force on January 1. Since 2006 Israel has taxed qualifying resident shareholders -- both corporate and individual -- on the undistributed profits of foreign companies that qualify as CFCs. Specifically, when an Israeli resident shareholder individually owns at least 10 percent of the means of control of a foreign company and collectively owns, together with other
Israeli resident shareholders, at least 50 percent, and the majority of the foreign company's income is (by Israeli definition) considered passive in a specific tax year, the qualifying shareholders must each report their pro rata part in the undistributed profits of that foreign company as a deemed dividend. That regime also applies to foreign companies that are controlled at least 40 percent by close relatives.
December 24, 2013
Tax Changes 2014 relevant for Israeli companies investing in/through In the Netherlands
The firm of Barnea Co, together with the Israel-Netherlands Chamber of Commerce, and the Netherlands Foreign Investment Agency, organize a breakfast workshop "Tax Changes 2014 relevant for Israeli companies investing in/through In the Netherlands" to be held morning of December 25, 2013, at the Offices of Barnea Co, 6 HaChoshlim street, 4th floor, Herzelia. Invitations only.
December 19, 2013
The former shareholer in Vita will not be sued
The Tel Aviv court has overturned and a court order allowing service of the claim against a former shareholder in a company called "Vita" outside of the Israeli jurisdiction.
December 15, 2013
Offering securities through an online platfor
There is a growing interest in raising funds online. This is owing to the fact that the Internet provides a wide exposure to diverse audiences. This creates an opportunity for small enterprises to be exposed to alternative and new financing options, that in the normal course would not be available to them. This, in turn, allows the enterprise to widen their circle of potential investors.
December 9, 2013
Israel has won the lottery but does not take advantage of it
The business world is desperate for certainty, especially in the industries where investments of billions of dollars are required in order to build infrastructure such as the gas production - by Micky Barnea, TheMarker.
December 5, 2013
IFLR 1000 - 2014
IFLR commented as follows: “Barnea Co's focus in transactional work is MA and project finance. Clients say in both areas the firm's partners are highly capable and talented individuals, singling out name and managing partner Michael Barnea and Simon Jaffa, who works across both areas. "Simon is knowledgeable, very skilled and a pleasure to work with," says one international project finance client. "He understands the business well and is very familiar with the market and thus will always seek the most advantageous, cost-effective solution, while at the same time giving you insight on the local-specific issues that you may overlook being from abroad. I cannot recommend him strongly enough." Another who mandates Jaffa on MA says: "[He's a] great business lawyer - decisive, innovative and responsive." Barnea is also appreciated by corporate clients: "He's very practical and incisive and always constructive with his advice." The strong feedback the firm receives and a respectable portfolio of work across both areas sees the firm join the MA and project finance rankings.”
December 3, 2013
Barnea & Co. continues to support MyIsrael
Barnea delighted to be associated with MyIsrael and to support MyIsrael charitable projects in Israel.
November 24, 2013
World Tax - 2014
Barnea was ranked by the World Tax, the International Tax Review's directory to the leading tax advisory firms around the world, as a leading tax firm in Israel.
November 17, 2013
8.5 years in jail to the former treasurer of kibbutz Shefayim
The former treasurer of kibbutz Shefayim and his wife were convicted of stealing 16.5 million NIS from the kibbutz and sentenced to 8.5 years in jail. The kibbutz members are still hoping that Adv. Zohar Lande will recover the money that the family is still hiding.
November 17, 2013
Online Gambling Panel
On November 18th, the Israel Bar will hold a panel in respect of online gambling. Our Head of Barnea's internet and e-commerce department, will participate in the panel.
November 13, 2013
Barnea & Co. in Rome
Barnea and Co. celebrated its 10 year anniversary by having a 4 day vacation in Rome. Between visiting local clubs and restaurants Barnea's employees had a Segway tour and visited the tourist sites such as the Pantheon, the Colosseum and the Spanish Steps.
October 17, 2013
Heading for a settlement? A dispute for over 4 million dollars shall be mediated
The 4 million Dollars dispute between Ori Yogev, a majority shareholder in Whitewater, a water technology group, who is currently the head of Israel's Government Companies Authority, and Beni Tish, a Canadian businessman, is heading for mediation.
Attorney Zohar Lande, Mr. Tish representative, stated that: "Mr Tish, who holds more than 15% of Whitewater shares (along with his family) is Whitewater's second largest investor and not a minor one. Mr. Tish invested approximately 4 Million dollars in Whitewater, and is the owner of overriding rights to which he is entitled by virtue of the company's article of association and the agreement (rights that Yogev is trying to withhold from him).
October 15, 2013
China's Suncore represented by Barnea & Co acquired the assets of Israel's Zenith Solar
Barnea represented Suncore in a transaction, that was effected by both the litigation and the MA departments, in which all of Zenith Solar assets were acquired by Suncore.
Suncore is a concentrating photovoltaic (CPV) systems manufacturer. ZenithSolar's system provides electrical output from a PV array and also generates hot water at a temperature suitable for domestic and industrial applications. Suncore is owned by San’an Optoelectronics, the largest LED manufacturer in China. LED technology is in many ways similar to the multi-junction PV cells used in CPV.
September 30, 2013
The former treasurer of Kibbutz Shefayim and his wife were convicted of stealing 16.5 million NIS from the Kibbutz
Attorney Zohar Lande, head of the litigation department at Barnea Co, made a short statement on behalf of the Kibbutz: "We respectfully acknowledge the Court's verdict. Sadly, this sordid affair has had a major impact on the social fabric of the Kibbutz in the last decade. Since Doron's embezzlement was exposed, we have acted within the Kibbutz community, as well as within the judicial system, in an effort to retrieve the money that has been stolen from the Kibbutz. The Kibbutz shall keep cultivating the values of solidarity between its members. We are hopeful that today's verdict shall enable the members of the Kibbutz to return with much enthusiasm to their normal routine of productiveness and creativity".
September 3, 2013
Barnea & Co. is growing
Barnea continues its expansion. The firm has recruited three new attorneys that will work in the firm’s commercial department – Adv. Ilan Blumenfeld, Adv. Anat Even Chen and Adv. Karin Kashi. The firm now comprises of a team of 35 lawyers.
September 1, 2013
The best Lawyer Website – 2013
Barnea has been ranked as having the 2nd best website out of all of the law firms in Israel. The Magazine commented as follows: Barnea’s website is easy to navigate and is also prestigious and professional.