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Latest Updates / International Sanctions
March 13, 2024
Terry Almozlino Arnon Attends Dun’s 100 Real Estate Forum
Terry Almozlino Arnon attended the Dun’s 100 forum for senior legal professionals in the real estate field. She noted, "Real estate is a main artery in the economy and there is no area it does not touch. A real estate slowdown simulates a clogging of the arteries, and just as the body cannot survive long in such a state, neither can the economy." To continue reading, click here.
March 13, 2024
Europe: AI Act to Supervise the Development of AI Technologies
The AI Act applies, similar to other European legislation, to companies not based in the European Union but have activity in the Union. Therefore, it may also affect Israeli companies offering services in Europe.
March 12, 2024
Supreme Court Issues Important Ruling on Shareholder Disputes
Zohar Lande, Eran Winner, Lina Makhuli, and Chen Segal from our Litigation Department represented Panda, a private company embroiled in a shareholder dispute that caused a deadlock within its decision-making bodies. The dispute reached the Supreme Court, which issued an important and precedential ruling. The Court accepted the company’s position and outlined the proper manner for managing and resolving shareholder disputes, as well as rules of thumb for dealing with deadlocks in private companies. These included the option to classify a director in a private company as having a "negative personal interest" and even the possibility of not bringing a transaction for approval before the board’s general meeting.
March 11, 2024
Informal Agreements or a Binding Contract?
A new Israeli Supreme Court ruling redraws the boundaries for recognizing agreements and signals that informal agreements may also be legally binding.
March 11, 2024
Israel Innovation Authority: New Startup Fund “Boost for High-Tech”
The Israeli Innovation Authority hopes to encourage the growth of start-up companies with innovative technologies through the launch of new start-up funds, which will invest in Pre-Seed, Seed and Round A rounds.
March 7, 2024
Barnea: Appointment of Four New Partners
We are pleased to announce the appointment of four new partners – Inbar Gorelick from the Corporate Department, Zohar Haim Levinger from the Litigation Department, Hani Shraier from the Kibbutz Sector Department, and Eran Elharar from the Capital Markets Department.
March 7, 2024
Regulation of Payment Services in Israel – Latest Developments
The Israel Securities Authority’s publications in recent months do not reflect the final version of the directives, but indicate the ISA’s approach when regulating payment services: setting out the licensing process and the licensing requirements, defining criteria for exemptions, technological requirements, safeguarding and protecting customers’ funds, examining service providers’ integrity, etc.
March 7, 2024
Barnea: Representing Gencell in NIS 16 Million Lawsuit
Gal Livshits, Yatir Madar, and Liron Dahan from our firm’s Litigation Department are representing Gencell in a NIS 16 million lawsuit against the car importer EV Motors as well as Holon Motors. The suit alleges the defendants owe Gencell NIS 4.5 million for systems and equipment they purchased but did not pay for.
March 5, 2024
Copyright: US Court Rejects Some of the Claims against OpenAI
The subjects of copyright and the protection thereof are core issues for companies that use artificial intelligence (AI) technology. Therefore, it is important to ensure that the agreements in place between different players in the economy and AI technology providers include provisions that protect such players against legal claims in relation to copyright
March 4, 2024
New Workplace Guidelines on Privacy Protection: Dr. Avishay Klein’s Guide for Employers Published on Mako
Israel’s Privacy Protection Authority has published new guidelines on the collection of biometric information in the workplace. In response, Dr. Avishay Klein, the head of our firm’s Privacy, Data Protection and Cyber Department, has compiled a practical guide for employers on the subject The guide was published on Mako.
March 3, 2024
Israel Securities Authority: Oversight of Unsupervised Entities
In a paradoxical twist, the Israel Securities Authority also monitors unsupervised entities, to prevent them from exceeding their operational parameters without a license. Consequently, the ISA possesses the power to request documents and information from these entities, emphasizing the importance of responding honestly and comprehensively to such demands.
February 29, 2024
Fintech: Dr. Zvi Gabbay Lectured at Reichman University
Dr. Zvi Gabbay, the head of our firm’s Capital Markets Department, lectured at Reichman University. In this lecture, he offered insights into the convergence of regulatory frameworks and fintech verticals, shedding light on how to navigate and comply with evolving regulatory conditions.
February 29, 2024
Israel Securities Authority: Diversifying SMEs’ Financing Channels
Small and medium-sized corporations are a central part of the Israeli economy’s growth engine and are considered major contributors to employment growth. The Israel Securities Authority is seeking to assist these businesses in diversifying their funding sources.
February 28, 2024
Barnea: Advising Tel Aviv University’s Student Exchange Program
Eyal Nachshon and Irit Brodsky, together with our firm’s administrative staff, is helping to guide Tel Aviv University’s student exchange program. As part of the program, the team met with Prof. Yishai Blank, the Dean of Tel Aviv University’s Faculty of Law.
February 27, 2024
Municipal Elections – Netta Bromberg Interview with TheMarker
Netta Bromberg, the head of our firm’s Employment Department, was interviewed by TheMarker about the rights of employees on Israel’s municipal election day. Netta discussed why the day is considered a statutory holiday and what wages employees are entitled to if they do work.
February 27, 2024
Micky Barnea Participated in Dun’s 100 Forum for Senior Legal Professionals
Micky Barnea, our firm’s managing partner, participated in a forum for senior legal professionals hosted by Dun’s 100. Micky noted, “The legal reform was a distraction we got swept away by. The main point of the government’s reform was to say ‘we’re doing what we want’ and to undermine legal gatekeepers along the way.”
February 27, 2024
Environmental Aspects of M&A Transactions: Lecture by Sagi Gross
Sagi Gross, a partner in our firm, lectured at Bar-Ilan University as part of a course on environmental law. He discussed the environmental aspects of MA transactions
February 26, 2024
US Regulatory Authorities Look to Increase Hedge Funds' Transparency and Stability
The new rules will require managers of large hedge funds to disclose additional information about their activities and strategies and provide more detail about their investments, including the countries and industries in which they are invested, leverage exposures, and more. As expected, fund managers are objecting, arguing that the new requirements will lead to superfluous information overload.
February 22, 2024
Risk to Israeli Entities Posed by International Sanctions – What Is the Exposure and What Are the Dangers?
The United States, the European Union, and other countries have been imposing economic sanctions on Israel for quite some time. The recent sanctions imposed on Israeli settlers suspected or convicted of committing violence against Palestinians may be a harbinger of a broad regime of sanctions that may affect business activities in Israel.
February 22, 2024
California Privacy Regulations Come into Effect
The court's decision to start enforcement proceedings, in addition to the provisions of the California Consumer Privacy Act (CCPA) already being enforced, is expected to lead to a significant increase in enforcement against companies that fall in the scope of the CCPA.