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July 2, 2024
Contractor Loans: Terry Almozlino Arnon Interview with Globes
Terry Almozlino Arnon, the head of our firm's Real Estate Department, spoke with Globes about the future of contractor loans.
June 30, 2024
Walla: Maya Carmi Lubartovski Discusses Important Details of Gifting an Apartment
No takebacks, receiving nothing in return, and a cooling-off period—gifting an apartment to a relative offers significant tax advantages. However, it is crucial to fully understand the consequences of this move for both the giver and the recipient of the gift.
June 26, 2024
New Precedent: Commissioner for Insolvency Proceedings Accepts Military Reserve Duty as Justification for Relief
Idan Miller, the head of our firm's insolvency practice, was appointed as the insolvency trustee for White Dress Marketing Ltd. (formerly Riki Dalal Group). Together with Hadar Eilon, Idan submitted an economic rehabilitation plan on behalf of the company and its shareholders for the Tel Aviv District Court's approval. In his request, Idan asked that the controlling shareholder's military reserve service be recognized as a contributing factor for the purpose of granting relief and avoiding a full insolvency procedure. When asked by the court for his response, the Commissioner for Insolvency Proceedings accepted this position.
June 26, 2024
Globes: Protected Tenants and Key Money
Everything you need to know about key money transactions — the advantages, the disadvantages, and the law.
June 26, 2024
Transaction: Solrom Merges with Listed Company 3DM
Hagit Ross, Elad Reshtick, Omri Oren, and Alon Anava represented the public company 3DM in a merger transaction, wherein 3DM will acquire Solrom Electronics Ltd. Solrom is engaged in the development, planning, production, and marketing of products primarily for use in the defense market.
June 25, 2024
Barnea: Hosting “Demo Day” for Azrieli College of Engineering’s AtoBe Accelerator
We were happy to host the Demo Day event for the AtoBe Accelerator at the Azrieli College of Engineering. During the event, entrepreneurs presented their innovative ventures to an audience of investors.
June 20, 2024
Compulsory Online Reporting to the Israeli Registrar of Companies
Pursuant to the Registrar of Companies’ directives, every company incorporated in Israel, whether under local or foreign ownership, must file its reports and applications to the Registrar of Companies solely online, through the Corporations Authority’s website.
June 16, 2024
New Israeli Court Ruling on Artificial Transactions
Under what circumstances will a court rule a transaction is an artificial transaction for tax purposes? In the case of Shalam Packaging Products Group, the district court rejected the tax assessor’s claims and ruled that the group’s restructuring was a legitimate business action and that the group did not execute the restructuring merely to reduce tax liabilities.
June 16, 2024
Real Estate Taxation Updates: Maya Carmi's Interview with Bizportal
Maya Carmi Lubartovski, the head of our firm's real estate taxation practice, was interviewed by Bizportal about the Israel Tax Authority's planned updates in the real estate taxation field. Among other things, she discussed the consequences of higher purchase tax rates for second apartments and giving apartments as a gift.
June 16, 2024
Israeli Law Prevails Over Foreign Jurisdiction Clauses in Consumer Contracts
A new Israeli Supreme Court ruling states that, in particular instances, Israeli law will apply to engagements and agreements, even if those agreements stipulate that foreign law applies to them. In its decision, the court also issued several significant rulings that could affect commercial relations, in instances when cogent provisions of law apply.
June 10, 2024
Israel: Merger Parties Fined for Exchanging Sensitive Information
The Israel Competition Authority published a consent decree for public comment and ruled that Mizra and Zilber violated the Competition Law by exchanging sensitive business information during their transaction negotiations. Jointly, the companies must now pay a fine of ILS 1.5 million to the State treasury.
June 10, 2024
Increasing the Odds of Winning in an Insolvent Corporation Auction
The recent preference shown by the administrators of the insolvent ISBECO company toward the purchase offer from Hacarem Spirit indicates that, despite economic logic suggesting otherwise, the highest monetary offer will not always be the winning bid in the process.
June 10, 2024
Advisory Board Agreements in Israel
Drafting a clear advisory board agreement is crucial for establishing a beneficial relationship between a board and a company. This clarity also helps avoid obstacles and apprehensions before an investment or the sale of the startup.
June 10, 2024
Corporations in Israel Must Have an Official Digital Address
Companies that did not report their digital address to the Registrar of Companies as part of their 2023 annual reports must report them in the 2024 reports. If they fail to do so, they may face fines and sanctions.
June 10, 2024
Barnea: Representing QDM in Transaction with Israel Electric Corporation
Ken Shaked and Nir Alter represented the startup company QDM (Quantum Design Materials) in a transaction with the Israel Electric Corporation (IEC). As part of the transaction, the IEC invested USD 1.1 million in QDM, which develops room-temperature superconductors. In addition, QDM and the IEC signed a cooperation agreement allowing the IEC to conduct a pilot to examine the applicability and suitability of QDM’s innovative technology for its needs.
June 6, 2024
Barnea: Serving as Legal Partner of MaofTech, Northern Negev Accelerator
Our firm is proud to serve as the legal partner of MaofTech, an accelerator program for early-stage startups in the Northern Negev region, and to provide legal services to its various ventures. MaofTech is operated by the Ministry of Economy and Industry’s Agency for Small and Medium Businesses. Its aim is to encourage, promote, and develop businesses in Sderot and the communities of the Gaza Envelope.
June 4, 2024
Recovery Signs in Israeli Legal Sector – Micky Barnea Interview with Globes
In an interview with Globes, Micky Barnea, our firm’s managing partner, discussed the complexities that characterized 2023 and the recent growth in the firm’s practice areas.
June 2, 2024
Class Action: Depreciation from Apartment Purchase Value
An Israeli court ruled that the Israel Tax Authority overcharged apartment sellers who rented out their apartments under the tax-exempt track up until their sale, by a total of more than ILS 100 million. This ruling has major consequences, since the State treasury will be forced to refund the tax overcharges to the apartment sellers who are part of the relevant class. The Israel Tax Authority is expected to appeal the ruling.
May 29, 2024
Step-by-Step of Voluntary Liquidation in Israel
In Israel, voluntary liquidation is an orderly procedure that begins with the preparation and submission of a solvency statement by a company's directors. This is followed by the shareholders' approval of the liquidation, delivery of notices to the company's creditors and the Registrar of Companies, and finally the company's liquidation. It is crucial to conduct the procedure in an orderly manner to avoid exposures, fines, and debts.
May 28, 2024
International Law: Amichai Cohen Interviewed on “One a Day” Podcast
Prof. Amichai Cohen, a special counsel at our firm and an expert on international law, was interviewed for an episode of the “One a Day” podcast hosted by Channel 12 News correspondent Elad Simchayoff. The episode dealt with the following question: “What does recognition of a Palestinian state mean?”