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December 6, 2016
Expected Amendments to Tax Legislation in 2017
Adv. Harel Perlmutter, Head of the Tax Department at Barnea was interviewed by Ynet regarding the expected tax amendments going into effect in 2017.
December 5, 2016
Nochi Dankner, Former Chairman of IDB Group, was Sentenced to Two Years Imprisonment
Dr. Zvi Gabbay, Partner and Head of Capital Markets Securities Department at Barnea was interviewed by Several Israeli Newspapers, after Nochi Dankner was sentenced today to 2 years in prison following his conviction on charges of stock manipulation. Zvi commented that unlike the verdict, which gave the impression that Dankner would receive a more severe punishment, it can be assumed that the District Court tried to impose a light sentence, but one which would not cause the prosecution to file an appeal.
December 4, 2016
Israel’s First Open Call for Bids for Offshore Oil and Natural Gas Explorations
November 2016 marked the first time that the Ministry of Infrastructures and Energy invited an open international call for bids for 24 licenses to 24 blocks (each not exceeding 400 km2) in Israel’s economic waters at a distance of at least 7 kilometers from the shore.
December 1, 2016
The Israeli Public Utilities – Electricity Authority to Hold a Hearing Regarding New Quotas for Photovoltaic Power Plants
In October 2016, the Electricity Authority published a draft resolution to hold a hearing regarding the arrangement of a competitive proceeding to set the tariff payable for electricity generation using photovoltaic technology.
November 30, 2016
Crowdfunding: Funding Companies in the Startup Nation
For many small businesses around the world, crowdfunding the pooling of usually small investments from a large group of investors facilitates the ability to start a business without large institutional investments in the company. The portfolio of crowdfunding investors is diverse and is comprised of a broad array of ROIs (returns on investment). Investors may be donating to a specific cause, seeking repayment with interest or claiming equity in the company.
November 30, 2016
Regulation of Crowdfunding in the UK, US and Israel: a Comparative Review
Dr. Zvi Gabbay, Partner and Head of the Capital Markets Department at Barnea, in a comparative review of the regulation of crowdfunding for Butterworths Journal of International Banking and Financial Law. The article discusses how three jurisdictions, the UK, US and Israel, have dealt with the regulatory aspects of the equity crowdfunding sector, comparing and contrasting the approaches taken by the regulators.
November 28, 2016
Chinese Retail and Internet Giant Alibaba Invested 15 Million Dollars in the Israeli Tech Firm Infiniti AR
Adv. Yuval Lazi, Partner at Barnea represented Sun Corporation of Japan in a mutual investment with Alibaba the Chinese retail and Internet giant in the Israeli company Infiniti AR, which is developing augmented reality systems for medicine, training, and games.
November 27, 2016
Convertible Notes
Adv. Ariella Dreyfuss, Partner at Barnea in an article on Convertible Notes. According to Ariella, Convertible notes are an attractive instrument for investors, they can also be advantageous to entrepreneurs and if drafted correctly should balance the interests of both parties.
November 24, 2016
IBM Alpha Zone Accelerator 4th Class
Micky Barnea joined IBM Alpha Zone Accelerator 4th Class as a mentor. The program focuses on post Seed and Round A funded companies with the aim to create a long term Technology and Business partnership with IBM worldwide.
November 23, 2016
Less Remuneration, More Responsibility
The issue of officers’ responsibility in general, and of directors in particular, is one of the key issues addressed in companies and securities laws in Israel. The subject has been deliberated, analyzed and gradually expanded over the years and, without doubt, onerous and extensive responsibility is imposed on directors in the current legal environment.
November 22, 2016
Adv. Yuval Lazi Interviewed by the Blog 'Talks about Entrepreneurship' and the Granting of Employee Stock Options
Adv. Yuval Lazi, Partner at Barnea, interviewed by the blog 'Talks about Entrepreneurship' and the granting of stock options to a start-up's employees. Yuval discussed the possibility for an employee to sell his options, valuation of options and how stock options are taxed.
November 16, 2016
Performing a Legal Due Diligence – Think before You Act
We have encountered numerous instances recently whereby investors were about to make an investment without performing a prior legal due diligence examination. There are various reasons put forward by investors for not performing a due diligence examination, such as: the contemplated investment is in a young company, insufficient budget, cost-benefit considerations, the volume of the investment, timetables, long-standing work relations between the investors and the corporation, and the like.
November 16, 2016
Barnea & Co. Represented D.G.I Media Ltd. in a Precedent Administrative Enforcement Settlement with the Israeli Securities Authority
Dr. Zvi Gabbay, Partner and Head of the Capital Markets and Securities department at Barnea, represented D.G.I Media Ltd. in a precedent administrative enforcement settlement in the field of Forex Trading.
November 10, 2016
The Supreme Court Rejected Yaacov Peri’s demand for Reduction From tax payable on an Exercise of Options
This week the Supreme Court rejected Yaakov Peri's demand for a tax reduction from the tax authorities from an exercise of options received by the public company, Lipman Electronic Engineering. Adv. Harel Perlmutter, Head of the Tax Department at Barnea was interviewed by Globes and noted that during the period in which the controversy arose, there was a difference between corporate tax (35%) and capital gains tax (25%) for companies. Today, when the tax rates are identical, there are no implications arising from the nature of the tax imposed on the taxpayer.
November 9, 2016
Barnea & Co. Represents iTrader, an Online Forex Trading Company
Barnea represents iTrader, an online forex trading company, which is under investigation by the Israeli Securities Authority. Adv. Zohar Lande and Adv. Moran Bickel from the Litigation department were interviewed by The Marker and commented that they hope the investigation by the ISA, which focuses on the company's activities during the period in which it was entitled to act as a trading platform, will end soon.
November 9, 2016
Voluntary Retirement Program
Following reports on the voluntary retirement programs that are promoted by the Israel’s largest banks, our Head of the Employment Department at Barnea was interviewed by Globes. She commented that a successful voluntary retirement program is one which creates a situation where the employer offers retirement to certain workers, without harming the functioning of the organization, which often relies on the knowledge and experience of the veterans.
November 8, 2016
Barnea & Co. Represented Hadad Brothers
Our firm represented Hadad Brothers, Worldwide Judaica Artists, in a claim by a service provider with an independent business, that after 17 years of engagement argued for a recognition of an employee-employer relationship and filed a claim for various social benefits in the sum of 1.5 Million NIS. After 2.5 years of legal proceedings, the court this week denied the claim in full.
November 7, 2016
Doing Business in Israel: a Nation Friendly to Business Investment
Companies, countries, and individuals who are interested in doing business abroad are looking more and more towards Israel. This has not occurred by accident. Israel has devised and implemented national policies to make it a world leader in technology and innovation. The result is a nation friendly to business investment. With the right business and legal guidance, investors are discovering tremendous potential in this small but sophisticated country.
November 2, 2016
Seminar for Students From the IDC Legal Clinic for Start-Ups
Barnea is hosting today a seminar for students from the IDC Legal Clinic for Start-Ups on various issues including founding agreement, labor law and tax issues, privacy policy, entrepreneurship and more. The cooperation is part of the firm's pro bono activities.
November 1, 2016
A Delegation of Community and Entrepreneurial Organizations from Barcelona and the Region of Catalonia
Barnea, hosted today a delegation of 50 community and entrepreneurial organizations from Barcelona and mayors from the region of Catalonia, which were invited to Israel by Startau, Tel Aviv University Entrepreneurship Center. The event was held as part of a series of meetings of the delegation with leaders of the technological and entrepreneurial environment in Israel.