Insights & News
Coca Cola Israel Antitrust Fine: "Halperin Seems to Want to Raise the Bar of Punishment"
Adv . Zohar Lande, Head of the Litigation Department at Barnea & Co. was interviewed by Globes on the Antitrust Authority's decision to impose an unprecedented monetary sanction on the Central Bottling Company Group (Coca Cola Israel). Zohar commented that it is not enough to set the monetary sanctions, submitting that the Antitrust Authority must make use of all the tools at its disposal, including the civilian tools.
Bar Association Training Course for Directors
Dr. Zvi Gabbay, Partner and Head of the Capital Markets Department at Barnea & Co., will lecture today on the subject of the Israel Securities Authority in the Bar Association Training Course for Directors.
Whether and How to Enforce on a Monopoly the Prohibition of Charging Excessive and Unfair Prices
Adv. Ilan Blumenfeld, Partner in the Antitrust Department at Barnea & Co., wrote an opinion article in The Marker, dealing with the question of whether and how to enforce on a monopoly the prohibition of charging excessive and unfair prices.
Survey of Legal Interns by Barnea and Codex was Published in Globes
A comprehensive survey conducted by Codex, a leading HR company for lawyers in Israel, which was initiated by Barnea & Co., was published in Globes. In the survey, future legal interns were questioned on how they feel in light of the flooding of the profession, how they choose where to intern and more. Adv. Mickey Barnea, Managing Partner at Barnea & Co., commented that the initiative came from the recognition that there is a change in the current generation of interns and the need to understand the impact on their internship.
The Interdisciplinary Center Herzliya Alumni Association
Adv. Noa Havdala and Adv. Ron Nitzan from Barnea & Co. will take part today in "The Lawyers of Tomorrow" project, held in cooperation with the Alumni Association, Career Center and Student Union of the Interdisciplinary Center.
Israel Securities Authority (ISA) New Proposed Bill to Prohibit the Management and Operation of Binary Options Trading Platforms out of Israel
Dr. Zvi Gabbay, Partner and Head of the Capital Markets Department at Barnea & Co., in an opinion article for Finance Magnets following a new proposed bill to prohibit the management and operation of binary options trading platforms out of Israel , even if regulated elsewhere.
Nespresso Loses Suit Filed against Israeli Company, Espresso Club
The Tel Aviv District Court rejected the lawsuit filed by Nespresso and the global food company, Nestle, against the Israeli company, Espresso Club. Nespresso claimed that Espresso Club’s advertisement, which uses a look-alike of George Clooney, violates the intellectual property of Nespresso and constitutes unfair competition. The Court rejected Nespresso's claims and ordered it to pay Espresso Club NIS 110,070 in legal costs. Espresso Club was represented by Adv. Zohar Lande, Adv. Itay Hatam and Adv. Gili Cohen-Arazi from Barnea & Co.
The High Court of Justice - the Gatekeeper of the New Multi-Apartment Act
Adv. Maya Zisser, Partner in the Real Estate Department ate Barnea & Co. in an article in The Marker, following a temporary injunction issued by the High Court ordering the State to explain why the New Multi-Apartment Act should not be canceled. Maya commented that those people to whom the new Law applies should hold back on any actions designed to counter the application of the law, as such actions may be irreversible.
Judicial Oversight of Board Decisions - Beyond the Business Judgement Rule?
Adv. Zohar Lande and Adv. Gilli Cohen Arazi from the Litigation Department at Barnea & Co. in an article for Chambers and Partners on recent trends in Israeli case law, which may indicate a change in the Israeli courts' attitude to judicial intervention in the business judgment of the Board of a corporation.
Dr. Zvi Gabbay in an Interview for Globes following the Exposure of Cases of Bribery by Israeli Businessmen
Dr. Zvi Gabbay, Partner and Head of the Capital Markets Department at Barnea & Co., was interviewed by Globes, following the exposure of cases of bribery by Israeli businessmen. Zvi commented that the Israeli prohibition against bribing a foreign public servant is new. However, the law was enacted in the US in 1977 and the US has caused other countries to align with it.
E-Commerce – Law and Legal Authority
Dr. Dotan Baruch, Head of the Internet Department at Barnea & Co., in an article (in Hebrew) for The Marker, discussing the question of how e-commerce activities may be subject to different legal systems, which can contain rules that do not match and even contradict, especially in matters of licensing and regulation.
Startau Entrepreneurship Course
Adv. Itay Gura will lecture today on the topic of founders agreements at 'Ignition' - the Entrepreneurship Course of Startau, Tel Aviv University Entrepreneurship Center.
Innovation Cocktail Event Hosted Together with the Israel-South Africa Chamber of Commerce
Barnea & Co., together with the Israel-South Africa Chamber of Commerce, is hosting today a cocktail event to promote networking between South African businessmen living in Israel and Israeli businessmen.
Does the US Visa Boom Herald New Opportunities for Law Firms?
Adv. Marie Tsion, Head of the Employment Department at Barnea & Co. was interviewed by The Lawyer regarding the effect of the E-2 visa programme on the legal market. Marie commented that the E-2 investor visas will allow US companies, entrepreneurs and employees to start business activities in Israel more easily. This visa is likely to increase the number of US companies establishing activities in Israel.
Delegation of Israeli ambassadors in Latin America
Barnea & Co. is today hosting a delegation of Israeli ambassadors who are stationed in Latin America, together with the Latin America division of the Israeli Ministry of Foreign Affairs, the Israel-Latin America Chamber of Commerce and StarTau, the Entrepreneurship Center of Tel Aviv University.
Barnea & Co. will accompany Accelerator Frankfurt Spring Program
The Accelerator connects Startups with Financial Institutions. Barnea & Co is the firm which will provide legal services in Israel to the startups attending the Program in Frankfurt. On 12th February we will be holding an introductory event at which the Accelerator will describe the nature and aims of the Program and Micky Barnea will discuss the challenges for startups heading abroad. The event will be take place at Barclay's Techstars Accelerator.
Shufersal Sets its Sights on Drug Store Chain New-Pharm
Adv. Ilan Blumenfeld, Partner in the Antitrust department at Barnea & Co. was interviewed by The Marker following Shufersal, Israel's largest supermarket chain’s announcement that it is in the early stages of examining the possibility of acquiring local drugstore chain, New-Pharm Drugstores. Ilan commented that in the event that Shufersal acquires New Pharm, the Antitrust Authority will have to approve the deal by examining the market power of the merged entity.
A Lecture on the Subject of Insolvency at the Tel Aviv Chamber of Commerce
Adv. Noa Havdala, Partner in the Litigation Department, at Barnea & Co., will lecture today on the subject of Insolvency at the Tel Aviv Chamber of Commerce. Noa will discuss the first signs to identify cash flow difficulties and the correct ways to deal with them.
Head of Deutsche Bank Israel Detained on Suspicion of VAT Offenses
Adv. Harel Perlmutter, Head of the Tax department at Barnea & Co., was interviewed by Tax Analysts following the arrest of the chief executive of Deutsche Bank's operation in Israel on suspicion of violating VAT law. The Israel Tax Authority claims that the customers, in respect of whom Deutsche Bank reported its transactions as being zero rated, allegedly because they were conducted on behalf of “foreign residents”, were actually Israeli residents. Harel commented that it is often difficult to determine whether someone is a foreign tax resident.
The CEO of Kitov Pharmaceuticals was Investigated by the Israeli Security Authority on Suspicion of Fraud and False Reporting
Adv. Zohar Land and Moran Bickel from the Litigation Department at Barnea & Co. represented the CEO of Kitov Pharmaceuticals at a hearing in the Tel Aviv Magistrates Court relating to his release from detention, subject to certain restrictive conditions.
Considering Bitcoin an Asset Could Set Back Usage in Israel
Adv. Harel Perlmutter, Head of the Tax Department at Barnea & Co., was interviewed by Bitcoin.com regarding the Israeli Tax Authority’s (ITA) draft on digital currencies. Harel commented that the draft circular is a declaration of intent from the ITA and at this stage no draft legislation has been published.
Doing Business in Israel – Practical Law
A Q&A guide to doing business in Israel written by Barnea & Co. was published in the Practical Law website. The guide gives an overview of the legal system, foreign investment, regulation, and other issues pertaining to Israel.
Eliezer Fishman Is Not Alone: Every Year 19 Thousand Israelis Declared Bankrupt
Adv. Noa Havdala, Partner in the Litigation Department at Barnea & Co., specializing in Insolvency, was interviewed by Maariv 'The Weekend' following the bankruptcy declared by Eliezer Fishman. Noa commented that there are ways to prevent the loss of all family assets, even in the event of bankruptcy, and to avoid involving the family assets with business assets.
AtoBe – Azrieli College of Engineering Startup Accelerator
Adv. Harel Perlmutter, Head of the Tax Department at Barnea & Co., lectured today on taxation of startups at the AtoBe – Azrieli College of Engineering Startup Accelerator.
Tamid IDC Pitch Event
Adv. Yuval Lazi, Partner in the Technology Department at Barnea & Co., participated as a judge at Tamid's Pitch Event. Tamid is part of the Interdisciplinary Center (IDC) Herzliya program that connects American students with the Israeli economic landscape.
Barnea & Co. Represents Real Estate Agent, Roni Mana and his Agency
Adv. Zohar Lande and Adv. Gal Livshits from the Litigation Department at Barnea & Co. are representing real estate agent, Roni Mana, and his agency, in a lawsuit filed at the Tel Aviv District Court against Arena Star Group Ltd, controlled by Marcus Weber, and the CEO, Michael Fuchs, for failure to pay brokerage fees in the amount of NIS 5.88 million.
Delegation from Germany
Barnea & Co. is hosting today a delegation from Germany, who will be visiting Israel for the first time in order to look for investment and cooperation opportunities, mainly in the real estate and insurance tech fields.
Roundtable with VC's Investing in Cyber Security
Barnea & Co. will host today, together with Israel-America Chamber of Commerce and the BIRD Foundation, a roundtable meeting with Mr. Kevin Stine, Chief of Applied Cybersecurity Division at NIST (The National Institute of Standards and Technology), an agency of the US Department of Commerce. The roundtable will include senior managers of Israeli VC’s community and Cyber Security startups.
Dr. Zvi Gabbay Participated in a Panel Discussion on the Subject of Administrative Enforcement in Haaret'z "Echad Haa'm"
Dr. Zvi Gabbay, Partner and Head of the Capital Markets at Barnea & Co., participated in a panel discussion on the subject of Administrative Enforcement in Haaret'z "Echad Haa'm", the magazine of the Public Companies Association. The panel discussed the implications of administrative enforcement on the market and on the levels of corporate governance and conduct of companies. (In Hebrew. Pages 16-21)
Delegation from Singapore
Barnea & Co. hosted this week a delegation from Singapore which was invited to Israel by Startau, Tel Aviv University Entrepreneurship Center. The delegation held a series of meetings with leaders of the technological and entrepreneurial environment in Israel.
Seminar on the New Multiple Housing Taxation Law
Barnea & Co. is conducting on February 14th a morning seminar on the new Multiple Housing Taxation Law. Adv. Maya Zisser, Partner at the Real-Estate Department will lecture on the new tax - to whom does it apply, the tax rate, payment methods, exemptions and credits. Adv. Harel Perlmutter from the Tax Department will lecture on tax saving opportunities in respect of rental income.
US Federal Trade Commission (FTC) Decides to Investigate Allergan’s Generics Business (Actavis Generics).
Dr. Zvi Gabbay, Partner and Head of Capital Markets at Barnea & Co. was interviewed by Globes following the decision by the FTC to investigate a company related to Teva.
Israel Seeks Tax on Bitcoin, Virtual Currency Transactions
Adv. Harel Perlmutter, Head of the Tax Department at Barnea & Co., was interview by Bloomberg regarding a draft circular of the Israel Tax Authority on taxation of virtual currencies (bitcoins and the like). Harel commented that the draft imposes almost insurmountable restrictions on the use of virtual currencies in Israel, due to the liabilities and costs involved.
On 17/01 Barnea & Co., together with the Association of Corporate Counsel (ACC), will host an event on Privacy and Data Protection Law
On 17/01 Barnea & Co. together with the ACC, will host an event on Privacy and Data Protection Law affecting employees in the workplace. Marie Tsion, Partner and Head of the employment Department at Barnea & Co., will lecture on the Israeli Privacy Aspects.
The Center for Academic Studies in Or Yehuda Young Entrepreneurs Skills Day
Adv. Ilan Blumenfeld, Partner at Barnea & Co., gave a lecture on the Legal Aspects of Entrepreneurship at the Center for Academic Studies in Or Yehuda Young Entrepreneurs Skills Day.
Hosting the South Carolina Business and Research Delegation
Barnea & Co. is hosting today a business and research delegation from South Carolina, comprised of business leaders, researchers and business developers at hospitals and research Institutions and economic development officials. They have come to Israel to promote collaboration with Israeli companies in Biomed, Cyber and Tech Automotive. Micky Barnea, our Managing Partner, will give a lecture on the legal aspects of doing business in Israel.
Micky Barnea in an Interview by Globes regarding Executive Pay in the Finance Sector and regarding Concessions from the Tel Aviv Stock Exchange and the Israel Securities Authority
Micky Barnea, our Managing Partner, was interviewed by Globes regarding executive pay in the finance sector. He also interviewed on concessions granted by the Tel Aviv Stock Exchange and the Israel Securities Authority. Micky commented that the Tel Aviv Stock Exchange and the Israel Securities Authority have granted a set of concessions to encourage more companies to go public. However, according to Micky, as regards the issue of regulation, the exemptions should be more significant.
Mentoring Startups and Entrepreneurs at the Technological Incubator TechCode
Adv. Yuval Lazi, Partner at the Technology Department in Barnea & Co. will give business and legal mentoring for start-ups and entrepreneurs at the technological incubator TechCode. Chinese Techcode is a chain of international incubators for start-ups, which assist companies looking to access the Chinese market.
Barnea & Co. Represented GBI Racing before the Knesset Reform Committee
Barnea & Co. is representing GBI Racing, a British company which provides betting services to Toto (the Israel Sports Betting Board). Adv. Zohar Lande participated in the Knesset Reform Committee meeting, which discussed the decision to cancel the permit given to Toto as proposed in the Economic Arrangements Law.
Adv. Elad Pilpel in an article in Globes on the Restoration of Funds for Victims of Stock Manipulation
Adv. Elad Pilpel from the Capital Markets Department at Barnea & Co. appeared in an article in Globes on the restoration of funds for victims of stock manipulation. Elad discussed the question whether the state is obligated to repay portion of the fine directly to the victims through a distribution mechanism.
Micky Barnea will give a lecture to MBA students in the course "From Idea to Start-up" at the Entrepreneurship and Innovation Department at the Ben-Gurion University of the Negev
Adv. Micky Barnea, our Managing Partner, will give a lecture today to MBA students in the course "From Idea to Start-up" at the Entrepreneurship and Innovation Department at the Ben-Gurion University of the Negev. The lecture will focus on legal and intellectual property issues necessary for entrepreneurs.
Barnea & Co. represented Belectric Israel in the negotiations leading to the conclusion of an EPC and O&M Agreements in respect of the Ashalim PV solar power plant
Adv. Gal Oren and Adv. Samuel Henri Samuel from Barnea & Co.’s Infrastructure Department represented Belectric Israel, which was selected to construct and operate a new 30Mwp PV solar power plant in Ashalim. Belectric Israel is an affiliate of Belectric GmbH from Germany, engaging in the development and promotion of photovoltaic (PV) solar systems world-wide.
Dr. Zvi Gabbay Participated in the Annual Dun's 100-Globes Capital Markets Forum
Dr. Zvi Gabbay, Head of the Capital Markets & Securities Department at Barnea & Co. took part in the annual Dun's 100-Globes Capital Markets Forum, with the participation of industry executives, banking sector, leading investment houses and insurance groups.
The Charges against Generic Drug Companies for Price Fixing: Teva is Exposed Twice and is Liable to have to Reach a Compromise in Both Suits
Dr. Zvi Gabbay, Head of Capital Markets and Securities Department at Barnea & Co. was interviewed by Globes, following law suits filed in the US accusing generic drug companies, including Teva Pharmaceutical Industries, of price fixing. Zvi commented that Teva is exposed to both a criminal indictment and a civil suit, and is liable to have to reach a compromise in both of them.
Launching Air Force Innovation Community - at Barnea & Co.
On Thursday, December 22nd we hosted at our office a networking event of the Air Force Innovation Division in cooperation with Startau, Tel Aviv University Entrepreneurship Center. The event was attended by representatives of the industry. The Air Force Innovation Course with Tel Aviv University was launched.
Meeting of SEEDS, the Entrepreneurial Program of Appleseed’s Alumni Association – at Barnea & Co.
Barnea & Co. hosted a meeting of SEEDS, the entrepreneurial program of Appleseed’s Alumni Association which operates technology programs and life skills development in Israel's periphery. Adv. Yuval Lazi, Partner in the Technology Department lectured on the topics of Founder's Agreements and a tool box for entrepreneurs.
The Fall of the Applications Empire
An article by Adv. Yuval Lazi, Partner in the Technology Department at Barnea & Co., on the subject of the current and future market place for applications, was published by Globes Dun's 100. Yuval commented that as regards Israeli start-up companies which develop application-based technologies or solutions, there is a real need to redefine the prospects and risks.
The Knesset Finance Committee Passed the Third Apartment Tax Bill
Adv. Maya Zisser, Partner in the Real Estate Department at Barnea & Co., was interviewed by Bizportal following the approval of the third apartment tax bill by the Finance Committee. Maya commented that we will not see a wave of sales of flats by owners of third apartments, but instead, owners will pass on the burden to tenants by way of increased rentals.
End of Year Employment Law Summary to impact upon 2017
Adv. Marie Tsion, Head of Employment Department at Barnea & Co. was interviewed by The Marker. Marie presented the most important developments in labor law which will impact upon 2017. Marie commented that employee's right to privacy in the workplace was the focus of discussion in respect of 2017 and will continue to be discussed in the coming year.
Five Winning Tactics to Scale Your Go-to-Market and Channels
Barnea & Co. together with ChannelSmart and Syneron-Candela will host an event on December 22nd on best practices for go-to-market strategy and channel development. Adv. Micky Barnea, our Managing Partner, will highlight the important information to include in Distribution Agreements.
Financial Catch of affordable housing program “Mechir Lemishtaken” (Buyer’s Price)
Adv. Ariel Nadler, Partner and Head of the Real Estate Department at Barnea & Co., was interviewed by Bizportal, following “Mechir Lemishtaken”'s cancellation of the winners because of funding problems. According to Ariel, when financing through a bank guarantee, the payment plan can be 20% of the payment for the flat at the beginning and 80% when the entry and permit is issued ("tofes 4"). The recommendation is to leave as much money for the last payment.
Roundtable Regarding the Employment of Arab Interns and Lawyers
Adv. Mickey Barnea and Ronit Offir, Partners at Barnea & Co., will participate in a roundtable meeting with other leading law firms regarding the employment of Arab interns and lawyers. The meeting was initiated by the Deans of the Universities' Faculty of Law.
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 & Co. 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.
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 & Co., 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.
Chinese Retail and Internet Giant Alibaba Invested 15 Million Dollars in the Israeli Tech Firm Infiniti AR
Adv. Yuval Lazi, Partner at Barnea & Co. 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.
Adv. Ariella Dreyfuss, Partner at Barnea & Co. 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.
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.
Adv. Yuval Lazi Interviewed by the Blog 'Talks about Entrepreneurship' and the Granting of Employee Stock Options
Adv. Yuval Lazi, Partner at Barnea & Co., 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.
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 & Co., represented D.G.I Media Ltd. in a precedent administrative enforcement settlement in the field of Forex Trading.
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 & Co. 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.
Barnea & Co. Represents iTrader, an Online Forex Trading Company
Barnea & Co. 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.
Voluntary Retirement Program
Following reports on the voluntary retirement programs that are promoted by the Israel’s largest banks, Adv. Marie Tsion, Partner and Head of the Employment Department at Barnea & Co. was interviewed by Globes. Marie 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.
Barnea & Co. Represented Hadad Brothers
Adv. Marie Tsion and Adv. Lee Alter Kizis 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.
Seminar for Students From the IDC Legal Clinic for Start-Ups
A Delegation of Community and Entrepreneurial Organizations from Barcelona and the Region of Catalonia
Barnea & Co., 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.
Does the Decision to Grant Foreign Companies Permits to Perform Construction Work in Israel Create Healthy Competition or Hurt Small Construction Companies ?
Adv. Ariel Nadler, Partner and Head of the Real Estate Department at Barnea & Co. was interviewed by Ynet and commented that opening the market to foreign companies is a positive move. He also addressed the question of problems that may arise for the consumer who is required to deal with a foreign company. Ariel commented that he is convinced that the Ministries of Finance and Construction will ensure adequate securities to address the issue of deficiencies and quality construction.
Five Chinese Companies and One Portuguese Company will be Granted Permits to Perform Construction Work in Israel
Adv. Ariel Nadler, Partner and Head of the Real Estate Department at Barnea & Co. was interviewed by The Marker regarding the Ministries of Finance and Construction decision to grant foreign companies permits to perform construction work in Israel. Ariel commented that with Israeli on-site construction firms in a state of collapse, opening the market for foreign companies is a positive move.
Barnea & Co. Continues to Assist the Heseg Innovators Program (HIP).
The new HIP Boost program is a direct continuation of the HIP program with which our firm was associated in the past. During HIP Boost, graduates of the HIP will undergo a comprehensive process to accelerate their early stage startups into growing and sustainable businesses.
Next week a panel presentation event will be held with leading mentors giving insights to the entrepreneurs. Adv. Yuval Lazi was chosen to be the legal advisor for the HIP Boost program.
Legal Aid for Startups Targets Social Ventures
Barnea & Co. is pleased to co-operate with the IDC Legal Clinic for Start-Ups in mentoring the law students participating in the clinic and entrepreneurs from underprivileged communities engaged in social business ventures.
After 9 Years of Litigation, David's Geller Claim Against Yitzchak Omer, Who Was Represented by Barnea & Co., Was Dismissed.
As previously published, Geller had filed a lawsuit alleging fraud in the amount of nearly NIS 70 million. Even though the main claim for fraud was dismissed, the District Court obliged Omer to pay millions of NIS to Geller deciding that they were granted to Omer as a loan.
Geller and Omer both appealed to the Supreme Court. The Supreme Court denied Geller's appeal entirely, accepted Omer's appeal and returned the case to the District Court.
This week, the District Court dismissed the action entirely and accepted Omer's argument that the funds were transferred to him as part of a share purchase transaction. The Court ruled that under these circumstances, Omer does not need to reimburse the funds or to transfer any shares.
Australian stock exchange to Israeli tech firms: Come list Down Under
Dr. Zvi Gabbay, Partner and Head of the Capital Markets & Financial Regulation Department at Barnea & Co. was interviewed by the Times of Israel regarding the growing interest of Israeli companies to list on the Australian Stock Exchange (ASX). Zvi commented that the Australian financial laws have earned a reputation as a creative and advanced regulatory regime that strikes a good balance between investor protection and a pro-business approach that understands the risk of over-regulation.
Israeli Army May Crack Down on Ex-Soldiers Profiting from Tech Expertise
Adv. Yuval Lazi, Partner at Barnea & Co. was interviewed by the Times of Israel regarding a new policy the Israeli army is mulling that would regulate the technologies and the expertise soldiers can use once they leave. Yuval commented that the rights to any intellectual property that a soldier has developed or produced during his time in the army — patents, lines of code or even photos — belong to the army and not to the individual.
Cross Border Mergers and Acquisitions 2016 - Virtual Roundtable
Corporate Live Wire held a Cross border Mergers and Acquisitions roundtable featured experts from around the world, including Adv. Ariella Dreyfuss. The chosen experts discussed regulatory changes, legislative precedent, challenges and opportunities as well as key trends and latest developments.
Barnea & Co. Represented the Private Equity Fund IGP Investment in Jacada
Barnea & Co. represented Israel Growth Partners (IGP) in an agreement to buy 300,000 Jacada shares, 7% of the company's share capital, from Robert (Bob) Ashton's investment firm Kinetic Catalyst Partners.
Barnea & Co. represents Rafi Bar-Lev
Barnea & Co. represented Rafi Bar-Lev, former Salesman at the Israeli investment company Utrade of Aviv Talmor, whose operation was frozen by the Israel Securities Authority, at a hearing in the Tel Aviv Magistrate's Court.
Barnea & Co. Represents GBI Racing
Adv. Zohar Lande, Head of the Litigation department at Barnea & Co. is representing GBI Racing, a British company which provides betting services to Toto (the Israel Sports Betting Board). The company applied to the Minister of Finance, Moshe Kahlon, to reconsider the decision to ban horse racing wagering, which was approved by a government committee chaired by treasury Director General, Shai Babad. The company contends that it was never given the opportunity to present other data to the committee on its behalf.
Capital Markets 2016 - Virtual Roundtable
Corporate Live Wire held a Capital Markets Roundtable featured experts from around the world, including Dr. Zvi Gabbay. The chosen experts discussed the latest regulatory changes, global economic risks, cyber security challenges and capital flow trends.
Construction Site Collapse in Tel Aviv
Adv. Inon Yogev, Partner at Barnea & Co. was interviewed by Ynet following the collapsed parking structure in the Ramat Hahayal neighborhood in northern Tel Aviv. Inon commented that the function of the project manager is not defined in the Planning and Building Law. There are many responsibilities and it is not clear who is responsible for what.
Fathers Granted Right to Paternity Leave - Marie Tsion for Walla
Adv. Marie Tzion, Partner and Head of the Employment department, published an opinion article in Walla Business, following the recently passed amendment, which granted fathers the right to paternity leave at the expense of already existing leave entitlements.
EU: Apple ordered to Pay Ireland 13 Billion Euros in Taxes
Harel Perlmutter was interviewed yesterday by leading newspapers regarding the EU Commission’s order against Apple to pay 13 billion Euros ($14.5 billion) to Ireland in respect of unpaid taxes. According to Perlmutter, Apple could be hit with billions of dollars in assessments for back taxes after this landmark decision.
Apple Must Pay 13 Billion Euros in Back Taxes to Ireland
Adv. Harel Perlmutter, Head of the Tax Department at Barnea & Co., was interviewed by several media following the European Union's ruling that Apple was given illegal tax benefits over two decades, therefore will need to pay 13 billion Euros in back taxes in Ireland.
Mistakes to be avoided by early-stage entrepreneurs
Ariella Dreyfuss will lecture to early-stage entrepreneurs who participated in StarTAU's Elite Entrepreneur Program.
The lecture will deal with founders agreements and what you need to avoid as a new startup.
Human Resources Forum Half Year Event
Adv. Marie Tsion will participate in the Human Resources Forum Half Year Event taking place on September 14th. Marie will discuss the terms of employment in the weekly rest period.
Officers’ Remuneration – Are New York and London Following TASE’s Lead?
Adv. Micky Barnea, Managing Partner at Barnea & Co., was interviewed by Globes Dun's 100 on the emerging trend in the United States and England to adopt stricter corporate governance rules pertaining to director remuneration.
Investors Search For Options Before Apartment Tax Comes Into Force
Following the announcement of Minister of Finance, Moshe Kahlon, of the Government’s intention to impose an annual tax on owners of 3 apartments and more, Adv. Liat Keisary, Partner at Barnea & Co., was interviewed by Bizportal. Liat discussed the pros and cons of the option of incorporation by the owners to hold the properties.
Barnea & Co. Represented Stride Gaming PLC
Dr. Dotan Baruch, Partner and Adv. Karin Kashi of Barnea & Co. represented Stride Gaming PLC, an online Bingo operator traded on AIM, London, in a major transaction recently. The Stride group acquired the assets and shares of Tarco Limited and Netboost Media Limited for consideration of up to GBP 40.2 million. GBP 22 million of the amount will be paid in accordance with the 2017 EBITDA of the acquired businesses.
Moshe Kahlon Proposes New Apartment Tax
Minister of Finance, Moshe Kahlon, is proposing the imposition of an annual tax of 1% of the value, starting January 2017, on owners of 3 apartments and more. Adv. Liat Keisary, Partner at Barnea & Co., was interviewed by Globes and commented that owners will eventually find legitimate tax structures to mitigate this tax. Others that will not be able to save this tax will transfer the cost onto the shoulders of the tenants.
Cellect Biotechnology Completed a Nasdaq IPO
On 31st July 2016 Cellect Biotechnology announced that it has completed its Nasdaq IPO, raising $8.4 million. Cellect Biotechnology will be traded on Nasdaq in parallel with its listing on the Tel Aviv Stock Exchange. Barnea & Co. represented a group of US underwriters, led by H.C. Wainwright & Co., LLC, in the process of submission by Cellect Biotechnology of a prospectus for the Nasdaq listing. Cellect Biotechnology develops innovative technologies in the stem cells sphere.
Barnea & Co. represents Maurice Haliwa
Adv. Zohar Lande, Adv. Noa Havdala and Adv. Yaacov Gershoni from the Litigation Department at Barnea & Co. are representing Maurice Haliwa, a shareholder in Manor A.D. Construction & Investments Ltd. Mr. Haliwa filed a lawsuit against Jacky Ben-Zaken and Avraam Nanikashvili in the amount of NIS 18 million.
Reverse Vesting and Holdback – Good News for Entrepreneurs?
Earlier this month the Israel Tax Authority presented its position that the sale of equity by a founder should be treated as a capital gain and not income, irrespective of whether such shares had been subject to a Reverse Vesting mechanism and/or Holdback. A double edged sword for entrepreneurs.
Jerusalem Real Estate Scams and How to Avoid Them
Adv. Liat Keisary, Partner at Barnea & Co., was interviewed by Ynet in connection with the Jerusalem real estate fraud involving the sale of apartments using false documents. Liat explained that the public should pay attention to any warning signs and carry out the process in a structured manner.
CySEC is stepping up enforcement of Israeli FOREX companies
The Cyprus Securities and Exchange Commission (CySEC) has begun to increase enforcement on Israeli companies operating in the field of FOREX and binary options and promote reform that could hamper their operations. Dr. Dotan Baruch, Partner and Head of the Internet Department at Barnea & Co., was interviewed by Calcalist on this issue. Dotan remarked that Israeli companies operating in Cyprus are examining alternative places, such as Malta or Eastern European countries in the EU.
Barnea & Co. Was Selected to Work In Conjunction with the IDC Legal Clinic For Startups
Barnea & Co. was selected to work in conjunction with the IDC Legal Clinic for Startups in supporting law students and entrepreneurs from under represented sectors, in the 2016/2017 academic year.
"Made in Lod" Boot Camp
Barnea & Co. will participate today in the "Made in Lod" Boot camp. Made in Lod is a social enterprise, tech, and small business accelerator being directed by PresenTense and the Lod Young Adult Center. Adv. Yuval Lazi will discuss the common mistakes young startups make.
Calcalist Ranked Adv. Elad Pilpel as a Promising Lawyer in the Banking and Capital Markets Sector
Adv. Elad Pilpel from Barnea & Co.'s Capital Markets & Securities department was ranked by the "Calcalist" economic newspaper as a promising lawyer in the banking and capital markets sector for 2016 .
Barnea & Co. represented Pharma Cosmetics Laboratories Ltd.
Adv. Ronit Offir, Partner and Adv. Itay Hatam from the Litigation department at Barnea & Co., represented Pharma Cosmetics Laboratories Ltd. (formerly HL Cosmetics Laboratories) in an IP claim against a beautician and her partner. The Rishon Lezion Magistrates Court recently awarded compensation in favor of Pharma and rejected the defendants' claim that the Copyright Act does not apply to the images and texts they copied from Pharma’s website.
Hedge Funds Do Not Need Regulation
Dr. Zvi Gabbay, Partner and Adv. Sapir Malul from the Capital Markets & Securities Department at Barnea & Co. express their views in an article for The Marker that the damage involved in applying the regulatory regime for hedge funds is immeasurably greater than the benefits, and may even cause a collapse of the entire industry.
Interview with Dr. Zvi Gabbay regards Nochi Dankner's conviction for securities fraud
Dr. Zvi Gabbay, Partner and Head of the Capital Markets & Securities Department at Barnea & Co. was interviewed by several media, following the conviction of Nochi Dankner for securities fraud. Dankner formerly controlled the IDB group and was one of the most powerful men in the Israel economy. Zvi noted that the verdict and its media coverage greatly contribute to the creation of a deterrent power of the Israeli Securities Authority and the prosecutor's office.
Proposal to reconsider the activist regulatory model of the Israel Securities Authority
An article by Adv. Zvi Gabbay and Andrey Yanai on the proposal to reconsider the activist regulatory model of the Israel Securities Authority applied to the public companies, allowing them to enjoy wider business and legal maneuvering room.
The Israel Tax Authority conducted an audit of short term landlords
Adv. Harel Perlmutter, Head of the Tax department at Barnea & Co., was interviewed by Globes following the announcement by the Israel Tax Authority regarding tax audits of short term landlords. Harel explained that these landlords are liable not only for the payment of income tax, but also for the payment of VAT.
The Effect of the Brexit Referendum Results on Online Gambling Companies - Interview with Dr. Dotan Baruch
Dr. Dotan Baruch, Partner and Head of the Internet Department at Barnea & Co. was interviewed by Calcalist on the effect of the Brexit referendum results on online gambling companies. Dotan expects that Malta can become an option for gambling companies who require an online gambling license from an EU Member State.
Brexit Effect on Real Estate Market in Britain – Interview with Gal Oren
Gal Oren, Partner at Barnea & Co. accompanying international companies and individuals in real estate transactions in Europe, was interviewed by Ynet on the possible economic implications of the Brexit vote on real estate prices. Gal advised to wait and see how much the prices will drop before buying or selling property in the country.
Opportunities for Israeli Investors in The Wake of The Brexit Referendum Results
Simon Jaffa, Founding Partner at Barnea & Co., was interviewed by Calcalist on the opportunities for Israeli investors, created by falling real estate prices in the UK, in the wake of the Brexit referendum results
Fear of extended uncertainty underlies Israeli Brexit concerns
A moment before casting the Brexit votes, Simon Jaffa Founding Partner at Barnea & Co. was interview for the Jerusalem Post on the possible implications of the vote on Israeli companies having presence in the U.K.
The Startup CEO Roundtable
IBM, Barnea & Co. and Marketing Envy will host a Round Table for CEO’s of start-ups which have raised over 1 million USD. As part of the program, Micky Barnea will discuss the challenges to be faced during second round capital raising.
The event will take place at Barnea’s offices.
Interview with Simon Jaffa regarding “Brexit” vote in Britain
Simon Jaffa, Founding Partner, was interviewed by i24, the Israeli online news channel, on possible implications for Israel of the impending “Brexit” vote in Britain. (Simon's interview commences at minute 16 of the link)
Microsoft is buying LinkedIn for $26.2 billion
Microsoft announced a $26.2 billion deal on Monday to acquire professional social platform LinkedIn, for $196 per share. Following this transaction, Dr. Dotan Baruch, Partner and Head of the Internet department at Barnea & Co., who represents and advises Internet companies involved in mergers and acquisitions, was interviewed by Galatz radio on ”Good morning Israel” and by Israel Hayom newspaper regarding the transaction. Dr. Baruch said that "there is no doubt that the acquisition underlines the importance given to social networks and the expectation that significant profits can be made from these networks"
Being on the safe side
TheMarker business monthly magazine for June, dealt with wealth and disclosed ”the secrets of 500 richest people in Israel”.
As an expert in the area of family wealth, Micky Barnea was interviewed on how to transfer your wealth to the 2nd generation in the best way.
Property Contractors may be breaching Privacy Laws
Purchasers of Apartments in Afula were surprised to receive a call from a mortgage advisory company, despite not having given the contractor prior consent to transfer their data to such company. The Ministry of Construction and Housing commented on this issue that "if necessary, we will sharpen the guidelines’’
The Privacy Protection Act regulates the use of personal information databases and providing this information to third parties without the individual's consent is illegal. Dr. Dotan Baruch, a partner at Barnea & Co., highlighted the seriousness of the matter and said that " the company should get the consent of the individual in order to offer a commercial transaction."
Tel Aviv University MBA Hackathon
Adv. Yuval Lazi and Adv. Itay Gura attended at the Tel Aviv University to lecture to participants in the Tel Aviv University’s MBA Programs in Innovation and Entrepreneurship on some of the legal and commercial aspects of starting a business. The participants took part in a Hackathon on 30th May.
TAU Innovation Conference 2016
Barnea & Co. invites you to the TAU Innovation Conference 2016. The conference is the largest international innovation conference in the Middle East, with over 6,000 attendees from across the world. This includes entrepreneurs, industry leaders, diplomats, investors, and highly respected keynote speakers at educational and networking events. As Barnea & Co. is a participant in the event, our clients enjoy a 35% discount (Password: TAUBarnea2016)
As part of the event, Micky Barnea will participate in the IPO and exits panel, Yuval Lazi will participate in the fundraising panel and Yuval Lazi and Ariella Dreyfuss will be judges at the Tel Aviv StartUp Challenge competition.
Barnea & Co. Represents Hanan Mor Group
Barnea & Co. represents Hanan Mor Group, a public traded company, and other companies of the Hanan Mor Group, in a lawsuit filed against them by the contractor relating to a number of real-estate projects. The contractor claimed damages and requested an order to prevent the forfeiture of bank guarantees. The court rejected the contractor 's request. The court also accepted in full the arguments raised by Barnea & Co. and criticized the conduct of the other party, pointing out that the version of the other side "raises questions". The court awarded Hanan Mor Group fees and costs in the amount of NIS 12,000.The Hanan Mor Group is represented by Adv. Zohar Lande, Adv. Itay Wigoda and Adv. Shachar Parnes from the Litigation Department at Barnea & Co.
Minister Haim Katz questioned over insider trading allegations
Following the suspicions that Likud minister, Haim Katz, used insider information for financial gain, Dr. Zvi Gabbay was interviewed by Reshet B Radio station, at London & Kirshenbaum, a current affairs news show on Israeli Channel 10, and by Globes.
Micky Barnea will lecture on investment agreements
Micky Barnea will deliver a lecture to entrepreneurs tonight at TRI/O (Tech Entrepreneurship Hub) at Kfar Quasim, on investment agreements. TRI/O is a collaboration of three entities: Tsofen, an Arab-Jewish organization promoting the integration of Israel’s Arab citizens into the hi-tech industry, MIT Enterprise Forum and MEPI - Middle East Partnership Initiative , a USA fund that offers assistance, training, and support to groups and individuals striving to create positive change in Israeli society.
Google Campus Startup School: Legal
Yuval Lazi will lecture (May 16, from 6:00 PM to 9:00 PM) at the Google Campus Startup School for entrepreneurs on 10 Annoying Legal Mistakes of Early Stage Start Ups as well as the advantages of Founders' Agreements.
Google Campus is part of a global network including Campus Tel Aviv and Campus London.
Things you need to know about stock options
How options are being used as a tool to solve the problem for start-ups of recruiting, remunerating, incentivizing and retaining quality employees.
Daniel Lorber, head of the firm’s Employee Benefits and Executive Compensation team, published an article in the IDC Legal Clinic for Start-ups website.
In the article, Daniel reviews the basic concepts of options and discusses how to adopt a stock option plan and the possible routes available for the company.
Barnea & Co. represented Azrieli Group
Barnea & Co. represented Azrieli Group in its acquisition of the eCommerce platform and activities of Buy 2 Networks Inc., a public company traded on the TASE. The acquired platform and activities provide an eCommerce platform for consumers to purchase a wide range of products.
The acquisition price is NIS 70 million. Azrieli was represented by Micky Barnea ,Refael Kriman, Asaf Shalev and Ron Shuhatovich.
Securities and Exchange Commission's Staff Position - Trading Fraud - Has the Ship Sailed?
An article by Adv. Zvi Gabbay that critiques the Israeli SEC's staff position paper it issued and which details actions which may be considered as "Trading Fraud".
A short comparative review which was mentioned in the article indicates that the Israeli SEC’s staff position paper is problematic, hence it does not provide clear guidelines to the players involved in trading.
Similar positions issued in other countries lean towards providing guiding principles, as opposed to a detailed specific list of actions, as indicating fraudulent trading.
The initiative to limit executive salaries could drive away Israeli high-tech companies
The high-tech sector is concerned about the impending passing of legislation which would effectively further restrict the salaries payable to executives in the financial sector. The concern is that this legislation could be extended to apply all types of listed companies , including Israeli high-tech companies listed on venture capital markets abroad. Micky Barnea, as an experienced lawyer in the high-tech field, was interviewed by TheMarker
Barnea & Co. represented East and West Stores Ltd
Barnea & Co. represented East and West Stores Ltd, a leading importer of foods into Israel from the Far East, in a dispute concerning the use of the trade name "East and West" and its trademarks.
Following an appeal to the Supreme Court filed by our litigation department, the ruling made against the Company by the District Court ,which prohibited the Company from using the trade name "East and West" in some markets, was reversed (our firm was not involved in the District Court action).
The Supreme Court also reversed the contempt of court ruling issued against the Company.
East and West Stores Ltd. was represented by Adv. Zohar Lande and Adv. Itai Wigoda. Adv. Ilan Blumenfeld assisted on the commercial aspects.
Dr. Zvi Gabbay and his team are joining Barnea & Co.
Dr. Zvi Gabbay, who was previously head of administrative enforcement at the Israel Securities Authority, will be joining our firm with five lawyers from his team. Micky Barnea commented to Globes regarding this expansion "together we create integrated capabilities that can handle a variety of challenges that the world of public companies and financial regulation present".
Adv. Yuval Lazi to represent Barnea as a judge on "Demo Day"
Adv. Yuval Lazi will participate tomorrow as a judge at the final event of the Startau elite entrepreneurship program "demo day".
This program is a unique acceleration program intended for young entrepreneurs, whose involvement in the program commences at concept stage. The program gives these young entrepreneurs the tools and knowledge to advance the concept to the point where it is ready for investment within three months.
Among the judges will be Samsung Venture Invesment, Krypton Venture Capital and Deutsce Telekom.
TheMarker newspaper interviewed Dr. Dotan Baruch
The Israeli newspaper TheMarker interviewed Dr. Dotan Baruch, a partner and head of our internet department, to discuss the new guidelines issued by the Israeli Tax Authority, according to which shall begin collecting VAT and income taxes from foreign companies which conduct substantial business over the internet in Israel, such as Facebook and Google.
China's Fosun to buy Dead Sea cosmetics
Yesterday, the signing ceremony of the Share Purchase Agreement for the sale of Ahava Dead Sea Laboratories Ltd. to Fosun (China), for approximately NIS 290 million, was held in Jerusalem. Micky Barnea, Ariella Dreyfuss and Itay Gura from our firm represented Kibbutz Mitzpe Shalem, one of the selling shareholders.
Yuval Lazi to participate in the student entrepreneurship program
As an expert in advising entrepreneurs, Yuval Lazi will be a mentor in an evening event involving 40 participants in the student entrepreneurship program at the University of Tel Aviv. The event will be held on Tuesday 05/04/16 at 6pm at Tel Aviv University
Enforcement Agreement - Is Any Confession Required?
An article by Adv. Zvi Gabbay that examines the willingness of the Israeli SEC to sign an enforcement agreement without a confession with regards to the offence by a violator and without such violator taking responsibility for such offence.
Additionally, the article states that comparing the administrative enforcement with the criteria of criminal enforcement would not necessarily be overlapping, and one not should expect a correlation between them.
Moreover, the article compares both the Israeli enforcement agreement policy and the United States enforcement agreement policy. The conclusion is that enforcement agreements without confession are not illegitimate and the intervention in the SEC's judgement will be acceptable only when there is a fundamental flaw in the enforcement agreement.
Barnea & Co. represented Continuity Software
Barnea & Co. represented Continuity Software in a transaction for the sale of the company to Kedma Capital for an amount of NIS 160 million. Continuity Software is the leading provider of service availability risk management solutions.
Representing Continuity Software- Adv. Micky Barnea and Adv. Ariella Dreyfuss.
Adv. Yuval Lazi represented Kedma Capital.
Algorithmic Trading - An article by Moran Bickel
In recent months the ISA has stopped the activity of many algo-trading companies, because their businesses constitute investment portfolio management without a license required by law. In an opinion article in Bizportal, Adv. Moran Bickel argues that the ISA should create a specific regulatory system in order to assess algo- trading companies.
The Israel Securities Authority bans binary options
In a letter circulated yesterday to companies engaged in the binary options industry, ISA informed these companies that it has decided to completely halt binary option trading in Israel. Dr. Dotan Baruch, head of the Internet department, was interviewed by Calcalist on this development.
Latest changes in the process of hiring interns at law firms
In an opinion article in Calcalist Magazine by Adv. Zohar Lande, Partner and Head of the Litigation Department in our office, he discussed the latest changes in the process of hiring interns at law firms. According to Zohar, despite shortcoming in these changes, regulatory intervention is necessary.
Every country in crisis is an opportunity for invesotrs?
Adv. Gal Oren, partner at Barnea & Co., was interviewed by the prominent Israeli business newspaper, Globes, for an article regarding the financial opportunities to be found in countries suffering economic crises.
Raising of the retirement age for women- Globes magazine
Adv. Marie Tzion, partner and head of the employment department, was interviewed by Globes magazine (in Hebrew) regarding the raising of the retirement age for women " this move is important both for promoting gender equality and for the status of women in the labor market , but I believe that the Israeli labor market is not ready for it".
A lecture by Micky Barnea at the BDO Academy
As an expert in the technology field, Micky Barnea was invited to lecture at a unique course for entrepreneurs organized by the BDO Academy, in association with the Technion’s Division of Continuing Education. Micky discussed founders agreements and investment agreements.
Globes IT magazine- Roundtable
As an expert in e-commerce and financial trading, Dr. Dotan Baruch was one of the five partners from leading law firms who participated in a roundtable held by Globes IT magazine. The subject of the event was Internet law, Cyber Protection, Privacy Information and the effects of technology. (P. 28-29)
Corporate Governance - From the Procedural to the Substantive
An article by Adv. Zvi Gabbay that discusses the need to examine Corporate Governance in terms of its substantiveness and not just through a procedural form. The article reviews the development of Corporate Governance from the time it was adopted in Israel in the mid-2000’s to the present and delineates general principles for further future developments, while highlighting the integration of tests of substantiveness that would allow the implementation of Corporate Governance in an optimal manner.
How Share Options Help To Grow Your Start Up
Azrieli College Of Engineering Jerusalem and AtoBe Start Up Accelerator will host an event on "How Share Options Help To Grow Your Start Up", in a partnership with Barnea & Co. and Excellence, on March 16, 2016. Micky Barnea will lecture at the event on Options for start-ups’ partners & employees.
Bizportal magazine interviewed Ariel Nadler for his comments on the change in the Sale Law
As an expert in Real Estate, Adv. Ariel Nadler was interviewed by Bizportal magazine regarding the change in the Sale Law, approved this morning by the Israeli Government. Ariel commented- "the only thing that can hurt homebuyers is the reduction of the Sale Law guarantees given to buyers of apartments, by the amount of the VAT element. This means that in the event of the realization of the guarantee, where the purchaser has paid VAT funds, the return thereof to the buyer will not be guaranteed.’’
Angel's Investor workshop
As part of our cooperation with MIT Enterprise Forum of Israel, our office will take part in an Angel's Investor workshop consisting of 6 meetings. Adv. Micky Barnea, Adv. Yuval Lazi and Adv Ariella Dreyfuss will lecture at the workshop.
Airbnb users may face a new tax reality
In the last few years the Airbnb platform has become a significant player in the tourist market, with a user base growing at 40% at the last year. Thousands of Israelis rent out their apartments through Airbnb and earned an amount equivalent to a monthly salary. The ITA has (until now) not been proactive in enforcing the taxability of such income.
Adv. Harel Perlmutter was interviewed for the Ynet website and spoke about the new tax rules that may change this trend.
Relocation Seminar for employers
Barnea & Co. is pleased to be hosting a seminar for employers on relocation on March 9, 2016. The seminar will take place at our offices. At the seminar we will discuss various aspects of the relocation process. Among the speakers will be Marie Tsion, partner and head of our Employment Department, Zvi Kan-Tor, partner at Kan-Tor & Acco, as well as Michal Daliot and Hanni Ben-Shimol from Relocation. The seminar is being held in cooperation with Kan-Tor & Acoo and Relocation office.
Start-up nation- Israel and its tech sector
The British magazine "the Lawyer" published an extensive article about Israel's high- tech industry.
Several partners at leading law firms, including Simon Jaffa, were interviewed by the magazine and discussed the reasons which made Israel "the start-up nation" and about recent changes in the industry (P. 42-48).
Adv. Daniel Lorber represented Barnea as a judge on an investors panel
On February 15, Petah Tikva Entrepreneurial Community, in association with StarTAU, the Entrepreneurship Center at Tel Aviv University, hosted a panel of investment experts, which included Adv. Daniel Lorber. Participants presented their business venture ideas to the panel.
TheMarker magazine interviewed Zohar Lande for his comments on Israel's next antitrust chief
Prime Minister Binyamin Netanyahu, has appointed Adv. Michal Halperin to be Israel's next antitrust chief. TheMarker magazine interviewed leading legal experts on antitrust Law, and asked them for their comments on this appointment. Zohar Lande commented: "One of the most significant challenges Adv. Halperin will face is maintaining the delicate balance between the continued encouragement of foreign companies that seek to enter and invest in the Israeli economy and the Israeli consumer who is grappling with the day-to-day cost of living".
Barnea & Co. represents Edison Investment Research in an agreement with the Tel Aviv Stock Exchange
In order to assist investors in Israel and abroad make prudent and informed investment decisions, the TASE concluded an agreement with Edison Investment Research to promote a unique model that has not yet been tried in the Israeli capital market. The new model involves Edison doing independent analysis for high-tech and biomedical companies traded on the TASE. This venture will be partially sponsored by the Israeli Stock Exchange.
Adv. Simon Jaffa, Adv. Refael Kriman and Adv. Isaac Hanania represented Edison.
Israeli Gambling Market review
Away from the media spotlight and public awareness, Israel has become a global player in the field of online gambling. Employees are able to make a career and earn good money in this field - but they do not always tell people what they do because of the negative image of this industry.
Dr. Dotan Baruch, head of Internet department at Barnea & Co. was interviewed by TheMarker for their Gambling Market Special Report.
Adv. Yuval Lazi and Adv. Inon Yogev join Barnea
Barnea & Co. continues its expansion and has recruited a further 12 Attorneys in the past few weeks. Micky Barnea commented to TheMarker regarding such expansion: Lazi and Yogev joining with their teams is a result of the firm’s growth and allows us to continue providing top legal service.
Micky Barnea was interviewed by Globes and asked how TASE can encourage high-tech companies to register on the Israeli stock exchange
As an expert in Capital Markets, Micky Barnea was interviewed exclusively by Globes regarding the TASE "poor year" in 2015. In the interview, Micky describes the reasons for the situation: stifling regulation, low turnover, high costs, and describes what he thinks TASE should do in order to attract new companies to TASE.
Nespresso suing Espresso Club for using George Clooney lookalike advert
Adv. Zohar Lande, head of the Litigation practice at Barnea& Co., alongside with Adv. Itay Hatam and Gilli Cohen-Arazi from Barnea's litigation team, are representing Espresso Club Ltd., an Israeli corporation, in an IP claim filed against it by Nespresso and Nestle.
Barnea & Co. represents Espresso Club Ltd.
Barnea & Co. represents Espresso Club Ltd., an Israeli provider of home espresso machines using a capsule system, in a claim filed against them by Nespresso Israel, as well as the international Nestle and Nespresso corporations. The Plaintiffs’ claim that a TV commercial of Espresso Club, which features a George Clooney double, denigrates their brand's image and tarnishes Nespresso's reputation by ridiculing the Nespresso image. For the full article, Fox news, please click here
Barnea & Co. hosted Unistream's investment committee
As part of our cooperation with Unistream, our office hosted the Organization's investment committee.
At the meeting, the participants presented a business venture developed during the program.
Adv. Micky Barnea and Adv. Ronit Offir were chosen to be members of the jury, which also comprised CEO's and industry executives (eg. Microsoft), investment managers and directors of venture capital funds.
District Court in Tel Aviv dismisses claim by Malibu against the Har-Gil family
Adv. Zohar Lande, Adv. Ronit Offir and Adv. Gal Livshits represented the Har- Gil family, the defendants in a claim for NIS 13 million filed by the real estate company, Malibu. The dispute related to payments allegedly owed by the Har-Gil family with regard to a plot of land owned by the Har-Gil family, developed by Malibu. The District Court in Tel Aviv dismissed the claim with prejudice.
The Herzikovitch inheritance dispute- interview with Micky
Mickey Barnea was interviewed for an article in Globes, regarding the Herzikovitch family dispute. Micky is an expert in the area of family wealth and in the article, Mickey described how families can, as far as possible, avoid such conflicts.
Barnea & Co. advises Johnson & Johnson regarding its participation in a $28m investment round carried out by Israel's V-Wave
V-Wave, a privately held company with offices in Israel and the U.S., completed a Series B financing round in the sum of $28m.
The round was led by Johnson & Johnson Innovation - JJDC Inc. (represented by Barnea & Co.). Other participants were TriVentures, Pura Vida and BioStar Ventures. Eli and Nir Barkat's BRM fund, Pontifax and Edwards Lifesciences, which were already shareholders in V-Wave, also participated.
Adv. Isaac Hanania to represent Barnea as a judge in an investors panel
On January 10, Petah Tikva Entrepreneurial Community, in association with StarTAU, the Entrepreneurship Center at Tel Aviv University, will host a panel of investment experts. Participants will present their business venture ideas to the panel.
Lexology Navigator - Arbitral proceedings in Israel
As a litigation expert, Zohar Lande was chosen to be the author of the Israeli chapter of "Lexology Navigator - Arbitral proceedings in Israel ".
In this exclusive chapter, Zohar provides a market and regulatory overview in respect of Israel.
Rafael Kriman comments in Bizportal regarding the failed negotiations between Clal Insurance and Macrolink
The negotiations for the sale of Clal Insurance Enterprises Holdings Ltd. to Chinese company, Macrolink, fell through and the price of the publically traded shares of Clal Insurance has been falling. Adv. Rafael Kriman, an expert in Capital Markets, was interviewed by Bizportal.
Finally, crowdfunding comes to Israel
Ariella Dreyfuss Adv. and Refael Kriman Adv. published an article in the leading legal English website "The Lawyer" discussing the new law in Israel relating to alternative means of raising funds. The goal of the law is to assist small Israeli companies in their efforts to raise funds through the social phenomena of crowdfunding, and the establishment of high-tech funds to be traded on a new index on the Tel Aviv Stock Exchange.
Barnea & Co. appoints 4 new partners
Effective as of January 1, 2016, Barnea & Co. appointed 4 new partners: Ilan Blumenfeld who specializes in Antitrust laws, the Kibbutz sector and advising on corporate matters; Refael Kriman who specializes in advising on capital markets and securities law; Liat Keisary who specializes in advising private clients and on real estate law; and Ariella Dreyfuss who specializes in advising technology companies and on M&A transactions.
Exemption from responsibility, indemnification and insurance of officers associations - is it possible and how?
Arrangements for exemption from responsibility, indemnification and insurance of officers associations (in the benefit of the public) have been gaining momentum recently, both by officers in these organizations seeking shelter under these arrangements, similar to officers in commercial companies, as well as from insurance companies that see the third sector as a potential market.
Hungary- the standard VAT rate of 27% will be reduced in 2016 to 5% for the sale of newly constructed residences
Since the number of newly constructed apartments and houses dropped drastically in Hungary in recent years, the aim of the VAT amendment is to increase the number of residential properties available on the Hungarian market. Adv. Gal Oren, who has extensive experience in the Hungarian market, was interviewed by Calcalist.
Israeli private and public companies may submit documents to the Companies’ registrar in English
In an article published in The Lawyer and Lexology, Adv. Ariella Dreyfuss and Adv. Asaf Shalev explain that a new draft bill, published at the beginning of the month, proposes that Israeli private and public companies should be able to submit documents to the Israeli Companies Registrar in English. The aim of the bill is to ease the process for foreign parties interested in investing in Israeli business and participating in Israel’s high tech story.
Technology, Media & Telecommunications 2015 round table
Micky Barnea was one of nine experts from around the world who participated in the "Corporate Livewire" virtual round table. The subject of the event was Technology, Media & Telecommunications 2015.
Micky discussed recent regulatory changes, key trends and Intellectual Property in the Media Industry.
InterGame 2016 directory
Our firm was chosen as one of the three best Israeli law offices providing services in the gaming and gambling industry by the InterGame 2016 directory. The InterGame is the ultimate portal for the coin-op amusement, casino and online gaming industries.
Employee or independent? Ways to save money at the fast approaching end of the tax year, 2015.
What can the taxpayer do to take advantage of available tax breaks and allowances?
Tax experts, including adv. Harel Perlmutter, discuss these issues on Ynet.
Israel signs OECD Automatic Tax Information Exchange Agreement
Israel signed the Organization for Economic Cooperation and Development’s Multilateral Competent Authority Agreement (MCAA) to facilitate the automatic exchange of financial information, boosting the number of signatories to 91 and enhancing the global efforts against tax evasion, the OECD announced.
Harel Perlmutter was interviewed by Bloomberg BNA about this agreement.
Israeli home prices rose in Q3
Israel's Government Assessor published today the fact that home prices rose 1.4% in the third quarter of 2015.
Adv Ariel Nadler, head of our Real Estate Department, was interviewed by Bizportal, saying that he believes that only an all encompassing solution to the problem of high property prices in Israel can stop this upward trend.
The average price of a home continued to rise in the third quarter
Ariel Nadler was interviewed by Globes regarding the Government Assessors Office report of a 1% rise in home prices in Israel's 16 largest cities from the second quarter and a 3% rise from a year ago.
Reform of Regulations Relating to Vetinary Supervision is important news for consumers in Israel
Recently the Economic Plan Bill, 2015 was enacted in Israel, which, inter alia, deals with regulations pertaining to veterinary supervision over meat products being marketed in Israel and introduces certain reforms in this regard. These reforms are important news for consumers in Israel, both in terms of protecting public health and considering the reform’s significant potential for reducing the cost of living. To read the full article, by Ilan Blumenfeld, please click here
Barnea & co. represents Mr. Haim Levy
The trend for Israelis to operate investment companies abroad can lead to business disputes; Adv. Zohar Lande and Adv. Gal Livshits from Barnea & Co. represent Mr. Haim Levy, known for his book "Real estate in Jeans", in a million dollar lawsuit against two of his business partners who founded a real estate company in the United States.
Summations filed in the Tisch versus Yogev case
After nearly three years of litigation proceedings relating to Edwin Tisch's claim against Ori Yogev, summations were submitted yesterday. Tisch claims that Whitewater and Yogev made false representations and acted fraudulently, causing Tisch to invest millions in Whitewater Holdings. According to Tisch, Yogev intoduced the project as the "Checkpoint" of the water industry, and "it is designed to change water treatment in Israel and abroad".
Israel and Australia in tax treaty talks
The Israel Tax Authority is negotiating a treaty for prevention of double taxation with Australia.
Adv. Harel Perlmutter, who specializes in international taxation at the Barnea & Co. law firm, believes this progress is "wonderful news. Israel and Australia have excellent economic and political relations, and Israeli investment in Australia has tripled over the past three years. At the same time, no significant talks have yet taken place on a tax treaty between the countries. This lack of a treaty sometimes brings about situations of double taxation and uncertainty, together with problems of withholding tax in trade and business, especially among Israeli companies seeking to operate and invest in Australia, and vice versa."
Lee Alter Kizis will lecture at the Upper Galilee Human Resources Managers Forum
On 11/18/15 Adv. Lee Alter Kizis, to lecture in a Human Resources Managers Forum at Caesarea.
The forum includes CEO’s and HR managers of leading companies and meets once a month. Lee will give a lecture on the importance of labor agreement
"Dos and don'ts" in employees agreements: recommended modifications in light of Court decisions.
Barnea & Co. 's head of Labour department, Marie Tsion, was interviewed by Globes. Marie described what employers should be including in employee agreements.
The new R & D Law in Israel
On July 29, 2015 the Knesset passed an Amendment to the Encouragement of R&D 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.
Barnea & Co. represented Bruker Nano
Barnea & Co. 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.
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."
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 Dr. Dotan Baruch, an expert in Internet law, specializing in the internet gaming area. Baruch 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."
"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 & Co. 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.
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 Barnea & Co.is assisting Rosling King in the action.
New business in ancient lands
As an M&A 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)
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.
Israel home sales reach all-time monthly record
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.
Barnea helps employees to ease Light Rail disruption
Following the chaos expected from Tel Aviv light rail work, some employers are trying to find creative solutions for their employees.
Barnea & Co. was interviewed by a leading economic show on the 2nd TV Channel, as an employer which takes care of its employees.
225 companies have been de-listed from the Tel Aviv Stock Exchange in seven years - why it happened, and how to stop the flight?
Controlling shareholders and company managers complain about the stifling regulation, low turnover, high costs, the intervention in determining wages, and a negative image following the social protests. The leading newspaper, TheMarker, interviewed stock exchange experts, amongst them, Micky Barnea, to discuss why it happened, and how to stop the flight.
Barnea & Co. represented Stride Gaming plc
Dr. Dotan Baruch, partner and head of Internet department at Barnea & Co. represented the leading gambling company, Stride Gaming plc, in its acquisition of the entire issued share capital of InfiApps Limited.
Stride Gaming plc, which is listed on AIM, acquired the entire issued share capital of InfiApps Limited, a profitable Israeli internationally-focused mobile social gaming company.
The total consideration payable for the acquisition is up to $39.2 million. Of this, an initial consideration of US$21.2 million in cash will be payable on completion, together with an additional earn-out consideration of up to $18 million payable in cash, determined by the EBITDA generated by InfiApps in the two years following completion of the acquisition.
Noa Havdala to participate in an executive panel of the "Olim Beyahad"
Micky Barnea says to Globes: "2014 Israel Gaza conflict still influences foreign investment in Israel"
Housing cabinet approves subsidized housing program
The housing cabinet, headed by Finance Minister Moshe Kahlon, confirmed yesterday a long series of decisions made by the cabinet, relating primarily to relief on property prices.
The Financial magazine, Globes, published comments by certain real estate experts regarding these measures. One of the experts, Maya Zisser, a partner in the real estate department of our firm commented that she doubted whether the promises made will be fulfilled.
How to sprinkle star dust of the high-tech industry on the TASE?
The Israeli corporate governance rules discourage technology companies from listing on the TASE. However, with some simple steps this all can be changed.
Israel's position as the Startup Nation is reflected in the fact that multiple local technology companies are listed on the US and London Stock Exchanges. However, the TASE has never managed to make itself an attractive target for Israeli high-tech companies. Thus, while many technology companies today prefer the purchase option of an initial public offering, such companies seeking to issue shares do not regard the TASE as an attractive or even relevant option. They prefer to turn to international exchanges.
Banking & Finance 2015
Corporate Live Wire held a Banking & Finance Roundtable with experts from around the world, including Simon Jaffa. The international experts examined the recent regulatory changes and developments in each expert's respective jurisdiction.
New Requirements Increase Risks for Directors
Does the new summary report which was published by the Israel Securities Authority on the subjects of dividend distributions and buy-backs of shares, place high barriers to the ability of boards of directors to pass future resolutions?
Could Plus500’s Anti Money Laundering problems prejudice future Listings by Online Trading Companies?
Employment of youths in the summer vacation
New affidavit supports Tisch's WhiteWater claim
Globes has revealed an affidavit by Dror Picard which is part of the dispute between the shareholders of Whitewater Water Technologies, which is in receivership with creditors owed about NIS 19 million.
In the affidavit, Mr. Dror Picard states that Hana Gertler admitted that Uri Yogev had deceived her as well, thereby inducing her to invest in Whitewater.
The claimant in the action, Benny Tisch, is represented by Barnea & Co. Tisch is claiming that Whitewater and Yogev made false representations and acted fraudulently, causing him to invest millions in Whitewater Holdings.
Johnson Matthey buys Israel packaging co StePac
StePac, which has developed and manufactured special packaging, has been sold to Johnson Matthey Investments for £18 million in cash by DS Smith, which owned all of StePac. Barnea & Co. represented DS Smith in the deal.
StartUp Open Israel is underway
Tadiran to acquire Supergas
Tadiran Holdings Ltd., controlled by Moshe Mamrod, is acquiring the gas distributor, Supergas, from Granite Hacarmel, a unit of Azrieli Group Ltd., for NIS 250 million. Micky Barnea and Ilan Blumenfeld represent Granite Hacarmel.
Exclusive Q&A On Banking & Finance With Simon Jaffa
As an Israeli expert in Banking & Finance, Adv. Simon Jaffa participated in a Q&A by the leading CorporateLivewire website. Simon reviewed the recent regulatory changes in the area, key trends expected to be seen over the coming year.
Barnea & Co. represents TDT Specialist SRL
Eli Reifman, former CEO of Emblaze, and managers at MCE Systems are being sued by a Romanian company,TDT Specialist SRL, for 63 NIS million. TDT is represented by Adv. Zohar Lande, Adv. Ronit offir and Adv. Gal Livshits.
Barnea & Co. hosted a delegation from Peru
Is the online financial trading industry part of Israeli high-tech?
Top FX figures meet venture capital firms in Tel Aviv: Is the age of funding here?
Senior industry figures from a host of FX companies met top venture capital investors in Tel Aviv, Israel today at the conference hosted by Barnea & Co. and the IVC. To read more, please click here
The birthday of her Majesty Queen Elizabeth II
Joint interview – Micky Barnea and IVC CEO - Mr Koby Simana
Mickey Barnea, managing partner of Barnea & Co., and Koby Simana, CEO of IVC Online, in a joint interview focused on the area of financial trading platforms. In the interview Micky discusses the effects of the new Israeli regulations pertaining to the activities of trading platforms. These regulations will come into effect on May 26, 2015.
"Voluntary retirement plans": what the employee needs to know
Last week Teva and Cellcom announced voluntary retirement plans for certain employees. Teva offers early retirement to 200 employees. The plan includes a retirement package on particularly beneficial terms, markedly higher than what prevails in the market.
Cellcom offers every employee with 30 months or more of seniority the possibility to terminate his work at the group, with a substantial economic parachute in the form of especially generous retirement terms. The plan includes an attractive basket of benefits with a limited number of places.
Starting now and during an entire month, all company employees meeting the seniority criterion can submit a request to management for inclusion in the plan.
Following those offers, Marie Tsion was interviewed by Globes and discussed the influence of workers' committees: "Once there is a worker's committee and convergence of interests - a voluntary retirement plan is the best solution. An Employer understands that in this way it will achieve maximum results and pay less, eventually. If the CEO feels he has a partner he will always prefer the dialogue ".
Legal Business: Israel 2015
The Legal Business magazine has dedicated its April edition to Israel, with a focus on current topics and trends in the country. Michael Barnea and Simon Jaffa were interviewed regarding Chinese interest in doing business in Israel. "In some respects because of the geopolitical limitation, there is less competition for certain deals. Investors may not face as much competition as businesses in the US and UK," says Barnea.
Legal Business: Israel
As an expert in the Infrastructure and Gas industries, Simon Jaffa was interviewed by the Legal Business magazine, concerning the current uncertainty arising from the anti-trust commissioner’s intervention in the ownership structure of Israel’s gas fields, saying: 'all this uncertainty puts off foreign companies coming into Israel and investing'.
Want a donation? Do you think like us? Adv. Asaf Shalev, Maariv
As part of the coalition negotiations, the" HaBayit HaYehudi" party demands the amendment of the "Non-Profit Organizations" Law as a condition of its entry to the government. Adv. Asaf Shalev, a senior lawyer at Barnea & Co., who specializes in advising non-Profit organizations, has written in an opinion piece which has been published in Maariv.
How the new government will cope with failures in the real estate market?
SAVE THE DATE: Online Financial Trading NOW, May 5th Tel Aviv
An Overview Of Gambling Law In Israel
Dr. Dotan Baruch, an expert on gaming and gambling, wrote the Overview Of Gambling Law In Israel in the leading 360Law website.
In his overview Dotan provides an analysis of current laws in Israel and discusses innovations and possible future developments therein.
Election Day: Can the employer oblige you to work?
Election Day in Israel is considered a day off. The employer cannot oblige its employees to work without this day off - except for a series of public services established by the CEC. As an expert in the employment field, Marie Tsion was interviewed by Ynet regarding the rights of employees.
Barnea & Co. represented Athena SCS Limited
Barnea & Co. represented Athena SCS Limited, a UK based company, and its shareholders in the sale of the company to NXP Semiconductors NV, a Nasdaq listed company. Athena is an independent UK-based developer of state-of-the art smart card solutions for access, enterprise, eGovernment, transportation, payment and mobile solutions.
Is it mandatory to publish an immediate report about negotiations regarding a potential transaction?
Recently, Judge Ruth Ronen of the Economic Department of the Tel-Aviv District Court handed down a ruling on the matter of a tender offer published by Africa-Israel Industries in 2012 for the purchase of shares of Negev Ceramics.
Barnea & Co. represented eight defendants in case relating to well known property project
Human Resources Managers Forum at the Emek Yezreel
Marie Tsion to participate in a Human Resources Managers Forum at the Emek Yezreel Academic College. Marie was lectured about the importance of employment contracts and the way it may influence the position of HR manager in the organization.
A hi tech attraction/ Israel special report
Despite the conflict in Gaza, 2014 was an extremely busy year for Israeli Hitech M&A transactions.
Several partners at leading law firms, including Simon Jaffa, were interviewed by "The Lawyer" to review last year’s results and discuss the technology market.
Dispute between Israeli company and Royal Jordanian Airlines erupts over package tours for Israeli Arabs to Saudi Arabia via Jordan
Round Table: Director responsibility in today’s era
Due to the many regulations, legal advisors and statements of claims, the directors of public companies do not know if it's their job to manage or supervise. Micky Barnea, a renowned figure in this field, was invited to be a member of a panel of experts to discuss the responsibility of the Board of Directors in the new era.
Mergers & Acquisition 2015 - Virtual Round Table
Corporate Live Wire held a Mergers & Acquisition Roundtable with five experts from around the world, including Simon Jaffa.
The international Mergers & Acquisition experts examined the latest changes and developments in each expert's respective jurisdiction.
The mergers & acquisition roundtable provides in depth analysis of the latest trends in the M&A arena. This included topics such as the main risks and challenges facing cross-border activity, tax implications and the strength of technology-based investment in Israel.
The Implications of violating Facebook’s terms and conditions
Recently, one of the most popular Facebook pages in Israel, by the name of "Twitting Statuses", was suspended and later permanently removed by Facebook. The reason for such action was that the operator of that page (the "Operator"), so it is understood, was paid to publish commercial content on that Facebook page, without going through the Facebook advertising system and without providing any due disclosure that such content was indeed paid for. It appears that the Operator offered various media packages to advertisers fixing prices based on different kinds of exposure on this page.
After this manner of operation became public knowledge, Facebook suspended the page and a few days after that permanently removed it. Facebook stated that these actions were taken because the Operator had breached Facebook's terms and conditions. According to Facebook, the Operator received warnings about his manner of operation, but ignored them. Despite the Operator's efforts, which included going public with Facebook's actions and publishing a letter sent from him to the head of the Israeli office of Facebook, his efforts to change Facebook's decision were unsuccessful.
Without getting into the legal spat between Facebook and the Operator, this turn of events proves the importance of following the terms and conditions of Facebook. All of the work and effort of the Operator will probably go down the drain, causing him substantial financial loss and diminution in value in connection with this Facebook page. And this is not something to trifle with - according to newspaper reports, the Operator, prior to this turn of events, asked to receive NIS 10,000,000 (approx. USD 2.5M) for the page and had 700,000 followers (and claimed to reach exposure of millions).
Given the fact that this kind of business lives or dies on the existence of the Facebook page, and that it operates on a platform owned by a third party, it goes without saying that where the business is intended to generate followers and create value without adhering to the terms and conditions of the third party owned platform, it is reasonable to believe that sooner rather than later, such value will dissolve into thin air. Further, where there are third party investors that are involved in such a business, this could establish a cause of action against the entrepreneur who used their investments for purposes of the business; where such a core fundamental element of the business is questionable, there is a possibility that the investors will seek to recover damages from the entrepreneur.
So, entrepreneurs – pay close attention to the rules of any third party you rely on for the purpose of creating value for your business, failing which , you could expose yourself to financial difficulties on a number of fronts.
Marie Tsion will lecture at the Upper Galilee Human Resources Managers Forum
Whitewater Holdings must pay 127 000 NIS to its former Vice President, Aviad Caspi
The Magistrate's Court in Tel Aviv accepted the claim of "Mika Benroy", a company owned by Mr. Aviad Caspi, a former business development vice president of Whitewater Holdings. Caspi is also the son in law of businessman, Edwin (Benny) Tish. Caspi submitted the claim against Whitewater Holdings, of which Uri Yogev is the founder and former Chairman of its Board of Directors .
The Magistrate's Court decided that Whitewater Holdings must pay an amount of approximately 127 000 NIS to "Mika Benroy" (Caspi’s company) for services given to Whitewater Holdings, for which no consideration had been paid.
The suit was filed by Adv. Zohar Lande, Adv. Shai Sharvit and Adv. Itay Wigoda from Barnea & Co.
Israel advances banking transparency while U.S remains opaque
You’ve been on a job interview but are still waiting for an answer ? The employer must now inform the job seeker
The new amendment to the Notice to Employee (Employment Terms) Law, 2002 will require employers to give written responses to job applicants whether or not they have been hired. The new amendment will take effect at the end of January.
Today, hiring procedures can include a number of in-house interviews, assessment centers and more. Thus the employee recruitment process has become increasingly longer. Candidates often have to wait lengthy periods before receiving a reply from employers and sometimes do not get a reply at all. Candidates are left with considerable uncertainty regarding the important issue of pursuing a career. The amendment is intended to address these issues.
Adv. Marie Tsion, an expert on Employment Law, wrote an article for Ynet about the effects of the new amendment.
The Threats to the Foreign R&D Centers in Startup Nation in 2015
There is no doubt that Israel has a thriving high-tech industry. Israel has developed a high-tech eco-system that encompasses companies at various stages of development. It has also built up an extensive community of investors and development centers of international companies. The high-tech industry in the start-up nation has attracted and is attracting corporate giants from around the world to operate their development centers in Israel. This is done via the acquisition of Israeli companies or as part of a business strategy of creating a presence in Israel.
What to look out for in online gambling industry in 2015
Lawyer of the year 2014 - Zohar Lande
Adv. Zohar Lande , senior partner and the head of the Litigation department at Barnea & Co., was chosen by the prestigious "CorporateLiveWire " guide to the legal profession as "Lawyer of the year 2014" in Litigation & Dispute resolution in Israel.
Zero% VAT on medication acquired for clinical trials in Israel
The new VAT amendments will lower the cost of clinical trials on humans in Israel. The amendment to the VAT legislation is expected to benefit international companies which conduct clinical trials in Israel.
Adv. Harel Perlmutter, who specializes in international taxation at Barnea & Co., was interviewed to Globes and stated that: "the new amendments will have two major implications – Firstly when the Israeli company acquires the medication from an overseas company, the Israeli company will not have to pay VAT or Customs Duty in Israel (the Israeli company will usually pass on these costs to the overseas company). Secondly, when the Israeli company charges fees for its services to the overseas company for doing the trials, the Israeli company will charge VAT at zero per cent."
International Comparative Legal Guide to Gambling 2015 - ICLG
Dr. Dotan Baruch is the author of the Israeli chapter in the International Comparative Legal Guide to Gambling 2015. The Guide covers a range of topics including: relevant authorities and legislation, application for a licence and licence restrictions, enforcement, liability and more. This publication is one of 38 ICLG guides published which cover all major practice areas and provide in-house counsel with a legal overview in different jurisdictions.
The Treatment of Electrical and Electronic Equipment and Batteries Law
The Treatment of Electrical and Electronic Equipment and Batteries Law came into effect recently. Asaf Shalev,head of Environmental Law at Barnea & Co explains the Law and its ramifications for suppliers, distributors and marketers.
Barnea & Co. represented Israel Natural Gas Lines
The Real Estate department, headed by Ariel Nadler, represented Israel Natural Gas Lines in the petition filed against it by Kibbutz Regavim. The judge rejected the petition stating that she did not see a reason to interfere in the government’s decision. In her view, once the safety concerns had been cleared, the kibbutz should have withdrawn the petition, which it did not do, The kibbutz will have to bear petition costs of NIS 4,000,000.
Israel’s 2nd Foreign Law Firms Conference
As an expert in the technology field, Micky Barnea was invited to lead the high-tech panel at the Israel’s 2nd Foreign Law Firms Conference. The panel: Start-Up Nation Vs. Exit Nation will deal with the effect of startup nation on the Israeli legal scene, the current trends in high-tech exit transactions, IPO's and the interface between Israeli and foreign law firms in high-tech legal work.
Seminar: Employee Stock Option Plans – From A to Z
Ezra Katzen was a featured speaker at a meeting of the Association of Corporate Counsel – Israel (ACCI) in November. The topic of his address was “The General Counsel, The Most Important Link in the Options Chain.” Drawing on his many years of experience as an in-house counsel, Ezra spoke about the legal and practical challenges in administering an Employee Stock Options Plan from the perspective of the in-house lawyer.
The meeting was jointly sponsored by Barnea & Co. and ESOP-Excellence, and was attended by general counsels and senior in-house attorneys from approximately 40 Israeli companies.
Israel’s 2nd Annual Foreign Law Firms Conference
The 7th European Conference on Tax Advisers’ Professional Affairs
Barnea & Co. partner Ezra Katzen represented Global Invacom in the acquisition
Time to Start-Up! Follow the Challenging Road
Barnea & Co. and The MIT Enterprise Forum of Israel is delighted to invite you to a unique seminar: Time to Start-Up! Follow the Challenging Road. The event will take place on 19th November 2014, 16:30 - 20:15 at the Tel Aviv University.
Antitrust Chief, Prof. David Gilo Encourages Consumer Boycotts
A potential new double taxation agreement with Switzerland?
Are Facebook, Apple and Google’s Israel based R&D Centers a Blessing in Disguise?
This has not gone unnoticed by foreign multinational companies. A study by the Israeli Central Bureau of Statistics shows that 63% of all investments in R&D centers in Israel come from international technology companies operating in Israel.
More than 67% of all employees in R&D centers in Israel are employed by foreign companies who have established research centers, such as Facebook, Google, Apple, Microsoft, IBM, Intel, HP and more. Such companies employ no less than 34.3 thousand employees in R&D, with an annual increase of 2%.
The presence of these corporate giants in Israel is growing, as many more companies understand the benefits and success they could have by placing their R&D centers in the hotbed of innovation and invention.
These outstanding figures are irritating to some, as the growth in the R&D centers gives the foreign companies firstbid at breakthrough technologies.
Science, Technology, and Space Minister Yaakov Peri went as far as saying that “Israel’s economy relies heavily on funding from other countriesfor research and development…this is a fragile situation…in which the main beneficiaries of Israeli creativity are the multinational companies.”
But there’s another way to look at it. These centers are effectively nurturing the best and the brightest, training them and serving as incubators for budding entrepreneurs. Many of these employees leave the multinational companies ready to start their own start-ups, armed with the considerable skillset, knowledge, and experience acquired at these R&D centers.
Furthermore, having foreign R&D centers and multinationals in Israel has proven to be a source for creating jobs, spawning new business and contributing to economic output.
IFLR 2015 edition ranks Barnea & Co.
The international IFLR 1000 ranking guide recognized the expertise of Barnea & Co. in Mergers and Acquisitions and Project Finance. In addition, Simon Jaffa is recognized as a 'leader in his field'.
The directory noted that “Barnea has always delivered excellent work. They have a profound understanding of our company's needs and expectations, and do it in an efficient, expedient, cost-effective manner. Their knowledge of the local market is a plus, and they are always a pleasure to work with.”
Zero VAT on first home will be for seven years only
The initiative to apply 0% VAT for first-time homebuyers will be a temporary ordinance for seven years. The leading newspaper Globes described the legal effects of this and interviewed senior lawyer, Liat Keisary Yahalomi.
Kibbutz Sector- The Challenges of Becoming a public Company
In recent years many kibbutz enterprises have grown from small manufacturers to international corporations. Echad Ha'am magazine, by Globes, held a roundtable with six experts to discuss the latest changes and developments in the kibbutz sector. (attached, p.21)
Barnea & Co. is growing
2014 Legal Highlights
This year’s summary of Maariv puts the spotlight on key legal developments in Israel, covering the following topics: Capital Markets (by Micky Barnea); Anti-Trust (by Zohar Lande); Constitutional Law; Criminal Law nfrastructure ; Tax and Money laudering
Ezra Katzen spoke at the OurCrowd Mentor Breakfast
Do online ads that advertise various products and services, are prohibited according to the Israeli anti-spam law?
BreezoMeter won the StartUp Open Israel competition
The Israeli winner of the competition, BreezoMeter, was invented to make air pollution visible. Using real time big data analysis BreezoMeter presents air quality information at street level resolution. (Picture)
BreezoMeter ran in the finals in front of six other companies, and will automatically enter the list of the World's Top 50 Most Promising Startups, known as the GEW50.
The final competition was held in Jerusalem, in the presence of Jerusalem MayorNir Barkat, investment entities, entrepreneurs, startups, high-tech executives.
Michael Barnea, Managing Partner from Barnea & Co, said, "I am delighted at the opportunity Barnea & Co. has had to take part in this special event. With our experience in working with entrepreneurs in all phases of incorporation, raising capital and launching technology and life science startups, we were able to contribute is considering and selecting the contestants in the competition. Thus we were able to allow the next generation of entrepreneurs theopportunity to present their ideas and receive international exposure".
StartUp Open was originally launched as part of the Kauffman Foundation in 2010 and is part of Global Entrepreneurship Week. It is the world's largest competitions for startup companies, boosting participation from over 30 countries.
The law for the Encouragement of Capital Investment- New Amendment is expected
Since its enactment in 1959, the law for the Encouragement of Capital Investment is one of the most significant and meaningful means for the growth and development of the Israeli economy and its industry.
Ms. Hana Gertler (Co-founder of Whitewater) will testify in the “Whitewater Holdings” trial
Ezra Katzen spoke at a seminar on Equity Based Plans
The seminar, organized by ESOP-Excellence and Startau, included in depth lectures on employee options plans. Ezra lectured on practical problems in administering options plans based on his many years of experience as general counsel to technology companies.
The European Lawyer Reference is finalizing the 1st edition of “Transfer Pricing & Tax Avoidance – Jurisdictional Comparisons"
Following US Lead, Israel, Germany Increase Cooperation To Fight Tax Evasion
Israel and Germany are intensifying their cooperation in combatting tax evasion. Minister of Finance Yair Lapid and his German counterpart, Wolfgang Schauble, signed a tax protocol between the two countries.
“This agreement has unprecedented items that were not included in previous agreements with Germany,” says Adv. Henriette Fuchs, head of the tax department at the Barnea & Co.a leading law firm and Israel’s first member of the Organization for Economic Cooperation and Development Extended Bureau of the Taxation and Fiscal Policy of the Business and Industry Advisory Committee (BIAC).
According to Fuchs, the main innovation in the agreement is the undertaking by the Israel Tax Authority to demand from the banks and any other financial institution information about German citizens, and to deliver this information to the German authorities, with the same commitment also being made in the other direction.
Israel and the Republic of Germany sign a new tax treaty
Israeli Finance Minister Yair Lapid and his German counterpart, Wolfgang Schäuble, signed a revised tax treaty in Berlin on August 21, 2014. The convention, which was last amended in 1977, has been adapted to make it correspond to modern international tax law and current economic relations between Israel and Germany.
Special report: Israel – Law in a war zone
Israel’s conflict with Hamas-controlled Gaza is escalating. The conflict broke out on July 8, when Israel launched "Operation Protective Edge" in response to Hamas launching rockets toward Israel. Is this still a place where lawyers can do international business?
Barnea & Co. represented Spirent Communications PLC
Barnea & Co. represented Spirent Communications PLC., a leading communications technology company, traded on the London Stock Exchange, and its Israel subsidiary, in the purchase of Radvision’s and Avaya’s Technology Business Unit for approximately USD 25 million.
Capital Markets 2014 - Virtual Round Table
Corporate Live wire held a roundtable with seven experts from around the world to discuss the latest changes and developments in capital markets in each expert's respective jurisdiction. To read more, please click here
Barnea & Co. represented Avgol Industries 1953 Ltd.
Is the Israeli High Tech Industry Indeed Impervious to Cannon Thunder?
The Next Big Thing from the Start-Up Nation
StartUp Open competition for start-ups is underway and companies are narrowing down. From near to hundred companies, which entered the competition, the judges have selected seven finalists to move forward and partake in the final event of the national competition that will take place on September 22nd , 2014 in Jerusalem.
Michael Barnea, Managing Partner from Barnea & Co, said, "As part of our long standing relationship with the Israeli entrepreneurial community, Barnea & Co. is proud to be a part of this StartUp Open competition. At the semi-final we identified a number of promising and innovative ventures and I am looking forward to pick out the winning start up at the finals. The wide spectrum of business ideas and industries represented by the final candidates are the talented and creative Israel start-up and hi-tech industry."
Barnea & Co.’s litigation team advised a client in a precedent setting appeal concerning fundamental issues of securities law and tort law
Barnea & Co.’s litigation team represented a client before the Supreme Court in a precedent setting landmark appeal concerning fundamental obligations under Israel's securities law and tort law. The Supreme Court overturned the rulings of the District Court and accepted our firm’s position that a duty of care does not exist between shareholders of a company, which were found jointly guilty in violating securities laws.
International Labor and Employment Law Committee
StartUp Open at Start-Up Nation
Barnea & Co. represented Dune Medical Devices Ltd.
Following the successful launch of MarginProbe System, which received Pre-Market Approval (PMA) from the FDA early last year, Dune Medical Devices Ltd. has successfully completed the first of a two stage USD21 million equity financing. The initial closing was completed for USD14 million with a second tranche of USD7 million to be completed by October 2014.
Dune Medical Devices develops surgical devices and techniques for real-time, intra-operative optimization of excisions in surgical oncology procedures.Dune Medical Devices has offices in the U.S. and in Israel.
Setting the Record Straight – Limiting Employees' Rights to Compensation for Service Inventions
Supreme Court dismisses petition to impose VAT on international corporations
Barnea & Co. represented Polycad Plastic Products Shefayim
המאבק המתקיים בארצות הברית על נייטרליות הרשת
המאבק הבלתי נגמר המתקיים בימים אלו בארצות הברית על נייטרליות הרשת הוא בין הניסיון לאזן בין הזכות לתחרות הוגנת לבין מניעת עומס על התשתיות. ד"ר דותן ברוך סוקר את המאבק המתרחש בין המצדדים בעיקרון הנייטרליות ברשת לבין המתנגדים ליישומו ללא הגבלות כלשהן.
How the JOBS Act Changed the Rules of the IPO Game
- Confidential submission of early drafts of the prospectus to the SEC
- An opportunity to “test the waters” by holding meetings with sophisticated investors in order to gauge the interest of potential participants in the IPO
- Scaled financial disclosure, which allows companies to go public based on two years (rather than three) of audited financial results and two years (rather than five) of “selected financial data”
- Extended time to comply with the internal controls provisions of the Sarbanes-Oxley Act, allowing up to five years to come into full compliance (rather than two years)
BDI 2014 ranks Barnea & Co. in 8 practice areas
The publisher Israel Mizrahi is suing his former partner
The publisher Israel Mizrahi is suing his former partner Lior Sharf in an amount of about NIS 11 million, claiming that he has been misled through cover-up and concealment" Mizrachi, represented by adv. Zohar Lande, Noa Havdala and Daphne Klein, from Barnea & Co., claims that Mr. Sharf covered up and concealed financial information related to Agam Publishing, their former business partnership.
Barnea & Co. represented "IN SPI AIR"
The Tel Aviv District Court rejected yesterday (Tuesday) a claim of NIS 67 million that was filed by the Canadian businessman David Geller, against the LR Group and start-up "IN SPI AIR".
IN SPI AIR was represented by adv. Zohar Lande, adv. Noa Havdala and adv. Gal Lifshitz
To London IPO or not?
Israeli companies have rediscovered the AIM in London; in a conference titled, "Time for London IPO" held today, regarding the London Stock Exchange there were differing views concerning how beneficial the AIM is in reality. Micky Barnea, managing partner at Barnea & Co., whose specialty is in London IPO's, claims that "unlike in Israel, in London it is the Board of Directors that has the last say as opposed to the shareholders as they do in Israel. Therefore the deriving power in the market is different and as such may not be suitable for companies with a single controlling shareholder, who would have less ability to intervene in decision-making and would lack influence over the structure of the Board of Directors."
Zero VAT plan for new homebuyers
"A different kind of class" activity
Barnea & Co. litigation team filed a monetary claim for NIS 4.8 million
A global trend towards mediation: views from lawyers in 13 countries
Zohar Lande was quoted in an article by the Kingsley Napley law firm. The article records recent quotes of leading commercial litigators from around the world. The experts discuss the recent trends in their respective countries. Zohar Lande is the only commercial litigation lawyer from Israel to be approached for his comments.
Defamation on Facebook and its legal consequences
"If I testify against Strauss - Elite I'll burn myself"
Dun & Bradstreet ranks Branea & Co. as one of Israel’s leading law firms
Mediation between Ori Yogev and Benny Tisch regarding “Whitewater Holdings” has failed
The Canadian businessman, Benny Tisch, has filed a claim against Ori Yogev, currently Director of the Government Companies Authority, in the amount of NIS 15 million. Tisch claims that Yogev made false representations and acted fraudulently, causing Tisch to invest millions in Whitewater Holdings. Whitewater Holdings is in liquidation and creditors are owed NIS 19 million.
Casino in Israel – could the notion materialize
Barnea & Co. represented Pilat Media Global Plc.
Pilat Media Plc is a unique UK incorporated public company, as it was the only UK company listed on the Tel Aviv Stock Exchange (TASE) and the only company fully listed on both AIM and TASE – meeting the regulatory requirements of both jurisdictions.
The firm has represented Pilat since its inception, through a spin-off (demerger) from an Israeli public company, and has assisted it with compliance with Israeli regulatory requirements through the years. In April 2014 Pilat Media was sold to Sintec Media, one of its major competitors for a cash consideration of more than $100 million.
Barnea & Co represented Pilat Media and its shareholders in Israeli aspects of the transaction.
IAA transcripts from the Strauss - Cadbury investigation has been revealed
Developments in the Carmit Candy Ltd. action against the Strauss Group
Opinion - Privatization pursuant to Encouragement of Competition and the Reduction of Concentration law
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.
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.
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.
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.
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.
IFLR 1000 - 2014
World Tax - 2014
Barnea & Co. 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.
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.
Barnea & Co. in Rome
Barnea & Co.'s team at the Nike night run
Heading for a settlement? A dispute for over 4 million dollars shall be mediated
China's Suncore represented by Barnea & Co acquired the assets of Israel's Zenith Solar
Barnea & Co. represented Suncore in a transaction, that was effected by both the litigation and the M&A 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.
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".
Barnea & Co. is growing
Barnea & Co. 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.
Financial Regulation, by Dr. Dotan Baruch, The lawyer
In 2010, the Israeli Parliament enacted the Securities Law (Amendment no. 42) , creating the framework for the licensing of the online financial trading industry in Israel. The Act is the first attempt of the government to regulate online financial trading in Israel, which is unregulated at all, allowing rogue operators to act, causing damage to consumers and to the reputation of respectful operators.
The Lawyer's special report: Tel Avision
Barnea & Co. represented Orid Media Limited
Barnea & Co. represented Orid Media Limited in its sale of certain of its assets and liabilities, including its subsidiary, Pariplay Limited, an Isle of Man online gambling licensee, to a partly owned subsidiary of Majesco Entertainment Company, a NASDAQ listed company. The transaction will see Majesco invest a sum of between $3.5 to $4.5 million.
Sea view real estate
Before buying real estate close to the sea, Adv. Nadler advises that a buyer must bear in mind that the corrosion to buildings that are located near to the edge of the sea is substantial. "Maintenance issues are important factors to consider because of the dust and sea spray. You should also be aware that there are higher maintenance costs involved in owning an apartment near the sea arising from dust, dirt, corrosion and external maintenance to the property.
It's also very important to have proper and ongoing maintenance to the property and this incurs a substantial cost. So if you calculate the apartment price whilst factoring in the higher maintenance costs the fee per square meter of the property would be a higher fee per square meter calculated in the purchase price and may be a lot greater than may be anticipated.
Barnea & Co. is the winner of "Machshavot" football tournament
Raising Finance & Investing in the UK workshop: Exploring Opportunities, Challenges and Solutions
Barnea & Co and Mazars LLP in association with Bank Leumi (UK) Plc and UK Trade & Investment take pleasure in inviting you to an Exclusive Workshop on: Raising Finance & Investing in the UK: Exploring Opportunities, Challenges and Solutions.
Date: Monday, 17 June 2013
When: 08:30 to 12:30 – includes Brunch and networking
Where: Residence of the British Ambassador to Israel, Matthew Gould, in Ramat Gan
RSVP by 3rd June 2013 to Ms Dana Segev at email@example.com
A residential plot in Herzliya was sold for NIS 32 million
The plot, that can accommodate 43 units, was put out to tender after there was a dissolution of ownership in the plot between the owners. This emanated from the owners failing to reach the agreement between themselves as to whether to proceed with either developing the plot or selling it.
The tender and sale process was managed by Attorney Ariel Nadler, head of the real estate law department at Barnea & Co. To read more, please click here
Israel: Licensing of Online Financial Trading
Trading online financial services, be it foreign exchange, commodities, share prices or stock indexes is the attracting customers all over the world; This has led several jurisdictions to introduce legislation aimed at licensing and regulating the online financial trading market. See PDF by Dr. Dotan Baruch, head of Barnea & Co.'s Internet Law department.
Israeli mortgage regulations meant to curb rising home prices - Adv. Ariel Nadler
The Bank of Israel has changed mortgage regulations. Banks will now be required to hold more capital against any loan they issue. The move essentially means banks will have less cash to lend out, potentially making it harder for those who most need the loans to obtain them.
Israelis invested in Cyprus Forex cannot withdraw their money
"Having a say on pay"
While the UK press has widely reported on ‘fat cat’ salaries and exorbitant bonuses of some of the most senior employees of public companies in the UK, in Israel new legislation on salary levels has been introduced to curb such excesses and limit and control the monies that have been pouring into the pockets of senior executives.
Seeking balance in the Israeli gas market
The Israeli natural gas market is moving in a direction whereby it is obliged to take nationwide decisions in order to find a balance between the public's interest and the investors interests, the local demand and the export opportunities and between the needs of the current generation and those of the future. See full article by Adv. Simon Jaffa (founding partner of Barnea & Co and head of Infrastructure and Project Finance Department) in Haaretz.
"Israeli’s should get tax benefit for use of bicycle to work".
Many Western countries provide tax incentives for use of bicycle to work. Heavy tax burden alone is not effective without providing tax incentives simultaneously. The State of Israel has to formulate a compensation policy. Henriette Fuchs, head of Barnea & Co.'s Tax Law department, was recently interviewed by Globes on this matter.
Claim in the amount of NIS 15,000,000 against Uri Yoggev
Claim in the amount of NIS 15,000,000 against Uri Yoggev: "He has provided false representations and has acted fraudulently". The claim was filed through Advocates Zohar Lande, Shay Sharvit and Itay Wigoda of Barnea & Co. Law Offices. To read more, please click here
"The Ministry of Justice's gamble"
"Lev Talpiot" shopping center - Barnea & Co. represented Pini Serfaty
Barnea & Co's was involved in the purchase of the "Lev Talpiot" shopping center in Jerusalem, which was completed on the 31.1.12 . The shopping center was purchased by RIT1 Investment Fund. Barnea represented Pini Serfaty, one of the shareholders of Lev Talpiot.
Barnea & Co. represented Ethemba Capital
Barnea & Co. represented Ethemba Capital (an offshore private equity investment fund) in the purchase of 46% (constituting control) of the issued share capital of Avgol Industries 1953 Ltd (a public company traded on the Tel Aviv Stock Exchange in Israel) for a purchase price of approximately USD 107 million.
Israeli work - coming your way
Israel, only 64 years old and home to just 7.9 million people, has produced a staggering number of start-ups, earning Tel Aviv a reputation as a center of technological innovation.
For the full article, by Adv. Simon Jaffa, please click here.
Taxation experts discussing the restricted profits
In a special meeting, the Knesset considered how to deal with approximately 120 billion NIS of profits gathered by very large Israeli companies. The Knesset considered whether the government should struggle in order to collect every tax possible (approximately 27 billion NIS) or agree to a settlement whereby only 3 billion NIS would be collected. Adv. Henriette Fuchs is discussing the matter. For the full article, please click here
Barnea & Co. filed an urgent request for provisional foreclosure and a prohibition of disposition order against Gad Zeevi
Advocates Zohar Lande, Noa Havdala and Itay Wigoda of Barnea & Co. filed an urgent request for provisional foreclosure and a prohibition of disposition order against Gad Zeevi. The purpose of the request is to guarantee that Gad Zeevi will pay to Zeev Rom the amount awarded to Zeev Rom in recent litigation.
Gad Zeevi will pay Zeev Rom $USD 1.5 million
Barnea & Co. represented Dune Medical Devices Ltd.
Following the successful launch of MarginProbe System, which received Pre-Market Approval (PMA) from the FDA early last year, Dune Medical Devices Ltd. has successfully completed the first of a two stage USD21 million equity financing.
Barnea & Co. represented SCR (engineering) Ltd.
Barnea & Co. represented SCR (engineering) Ltd. in the purchase of 70% of Milkline Srl’s, an Italian company, distributor in Europe.
The ICC Group was sued by the Administrator General
The ICC Group was sued by the Administrator General for 150 million NIS, who argued that the trustees acted in severe negligence while cancelling the loss of profits insurance. The group is represented by Advocates Zohar Lande, Shai Sharvit, Itay Wigoda and Levi Metchnik of Barnea & Co.
A conflict between top airlines: Isra-air and Easy-Jet
Barnea & Co. represented Tenova Group of its purchase of Bateman Engineering
Barnea & Co. represented the Italy based Tenova Group in the context of its purchase of Bateman Engineering for approximately USD150 million. Specifically our firm represented Tenova S.p.A in the purchase of 99% of Bateman Advanced Technologies Ltd., an Israeli company in the business of providing process engineering, technology and equipment in connection with solvent extraction and chemical treatment - for a purchase price of approximately USD 22 million.
Barnea and Co. represented MobeeArt Ltd
The firm represented MobeeArt Ltd, a software start-up developing breakthrough technology for creating mobile websites, in an investment round totaling about $ 1 million.
Espresso Club files a claim against Strauss
The leading coffee company, Espresso Club, is claiming for NIS 7 million from Strauss for withdrawing from purchasing the company. Espresso Club officials claim, through Adv. Zohar Landa and Shay Sharvit of Barnea & Co. Law Offices that during 4 months Strauss carried out a strict and extensive due diligence procedure of Espresso club and its business. During the due diligence, according to the claim, secret and confidential information was passed on to Strauss and such was exposed to Espresso Club’s main supplier.
Dutch companies will invest NIS 2.4 billion in food production projects in India and Africa, by using israeli technologies
Representatives of Dutch food production companies and of Dutch universities visited Israel last week and met with Israeli companies in order to discuss the different options to establish cooperation and improve food production projects in the Third World.
Barnea & Co.represented Zaki Rakib in the context of the purchase of Brazilian company
Barnea & Co.represented Zaki Rakib in the context of the purchase of Brazilian company that holds a licence to render Multichannel Multipoint Distribution Services in the interior of the State of São Paulo, Brazil, with a total bandwidth of 70 MHz. The firm further represented Zaki Rakib when a company controlled by George Soros joined the venture and provided a convertible loan of US$ 20 million.
The Challenges of technological innovation in water in Israel
Israel is proud of its water industry. It is an Industry that is based on limited resources and growing needs of the domestic water market, the global thirst for water solutions in all areas and the global reputation of companies that deal with Israeli water technology. Israel is also known for its technological industries. The local industry was based upon proven capabilities for initiating, financing, growth and realization of the companies in all areas of technology and life sciences.
Barnea & Co. represented Ivory Computers Ltd.
Barnea & Co. represented Ivory Computers Ltd., a private Israeli retailer leading company engaged in marketing and selling of computers, peripheral device to computers and entertaining electronics, and its founders in a transaction with Premium (PIH) Holdings Ltd., a public company traded on the Tel Aviv Stock Exchange, in which Premium purchased 51% of Ivory's shares, from the founders and from the company, for a total consideration of NIS 15.5 million.
Barnea & Co. represented Glasshouse Technologies Inc.
Barnea & Co. represented Glasshouse Technologies Inc. in its sale of all of the outstanding shares of its subsidiary Glasshouse Technologies Ltd. (an Israeli company) to Taldor Communications Ltd. for a purchase price of approximately US $6,750,000.
Barnea & Co. represented Mr. Zaki Rakib
Barnea & Co. represented Mr. Zaki Rakib in the sale of a controlling stake in Ma'ariv, one of Israel's top daily newspapers, to Discount Investments Ltd, a corporation belonging to the IDB group, for a total investment by Discount Investments of NIS 140 Million.
Dr. Dotan Baruch was awarded in the 2011 Chambers Global Guide
Dr. Dotan Baruch, partner at Barnea & Co. law offices, was awarded in the 2011 Chambers Global Guide as a leading practitioner in the sphere of Global Gaming and Gambling; only 36 lawyers across the world were awarded as leading practitioners in this global sphere. Dotan heads Barnea & Co.’s gaming practice, and provides all-encompassing legal advice to operators and other stakeholders in the online gaming and gambling industry.
2011 Annual M&A Convention
Micky Barnea and Oren Speiser speak at the 2011 Annual M&A Convention, presenting "from handshake to closing - 50 ways not to lose a transaction".
Barnea & Co. represented a leading European energy company
Barnea & Co. represented a leading European energy company regarding the establishment with Rotem Industries Ltd and Gefen Biomed Investments - two Israeli firms specialising in cutting-edge technology - in creating a joint venture to finance and support the growth of innovative start-ups in the field of renewable and alternative energy and energy-saving technologies.
Barnea & Co. represented SpotOption
Barnea & Co. represented SpotOption, the leading binaryplatform provider, in the sale of its TraderXP customer facing business.
Barnea & Co. represented GES
Barnea & Co. represented GES – Global environmental solutions Ltd., in the acquisition of the remaining 49% of the issued share capital of its South American subsidiary from its local partner. GES is an international company engaged in the design, engineering, development, marketing and sale of water and wastewater treatment solutions and systems.
Barnea & Co. represented Funky Fish Ltd.
Barnea & Co. represented Funky Fish Ltd., an international franchise-based retail chain and a top Fashion Accessories brand that offers gifts and accessories for girls and young women, in a USD 2 Million investment by a foreign investment group.
Barnea & Co. advised GES Global Environmental Solutions Ltd.
Barnea & Co. advised GES Global Environmental Solutions Ltd. in connection with an international tender issued by the Republic of Rwanda for the supply and installation of two containerized water treatment units.
Barnea & Co. advised Deutsche Postbank
Barnea & Co. advised Deutsche Postbank in connection with the collaterals to be provided by an Israeli parent company in relation to the financing of a real estate investment by its foreign subsidiary in the amount of approx. £11.5 million.
Barnea and Co. represented Viola Private Equity
Barnea & Co. represented Viola Private Equity, a private equity fund, in a USD 7 Million investment in Zend Technologies Ltd.
Barnea & Co. represented Polycad Industries (1989) Ltd.
Barnea & Co. represented Polycad Industries (1989) Ltd., a Kibbutz Shefayim company, in the purchase of the activity of a competing manufacturer in consideration for approximately USD 1.5 Million.
Polycad Industries (1989) Ltd. is a developer and manufacturer of plastic packaging for the food, cosmetics, toiletry and detergent chemical industries, using HDPE, PET, polypropylene and other special resins.
Barnea & Co. represented Amiad Filtration Systems Ltd.
Barnea & Co. represented Amiad Filtration Systems Ltd., a public company traded on AIM, in the acquisition of the remaining 50 %. of the issued share capital of its Chinese subsidiary from its local partners in consideration for USD 3 million. Amiad Filtration Systems Ltd. is a producer and global supplier of water filters and filtration systems for the industrial, municipal and irrigation markets.
Barnea and Co. represented Sightic Vista Ltd
Barnea and Co. represented the image processing company, Sightic Vista Ltd., its founders and its major shareholder in an acquisition in which, the semiconductor giant, Broadcom Inc. (Nasdaq: BRCM), acquired the entire issued and outstanding share capital of Sightic Vista Ltd.
Dr. Dotan Baruch joined Barnea & Co as a partner
Dr. Dotan Baruch joined Barnea & Co. as a partner. Dotan will be heading the gaming, gambling, internet and e-commerce practice.
Dotan was ranked in the 2009 and 2010 Chambers Legal Global Guide as a top rated lawyer in the sphere of Global Gaming and Gambling being described as “immensely skilled, motivated and ambitious", and was recognized in the 2010 Who's Who Legal Guide as a leading practitioner in the sphere of Internet and E-Commerce in Israel.
Barnea & Co. represented GES
Barnea & Co. represented GES – Global environmental solutions Ltd., in the merger and acquisition of Nitron Chimtech Ltd., a leading sewage treatment facilities operator. GES is a leading international company engaged in the design, engineering, development, marketing and sale of water and waste water treatment solutions and systems.
Barnea & Co. merged with the firm of Kleinman
Barnea and Co. represented Dune Medical Devices Ltd.
New M&A transaction: Barnea & Co. represented Amiad Water Systems Ltd.
Barnea & Co. represented Amiad Water Systems Ltd., a public company traded on AIM, in a USD 22 Million merger and acquisition of Arkal Filtration System. Both Amiad and Arkal are producers and global suppliers of water filters and filtration systems for the industrial, municipal and irrigation markets.
Barnea & Co. represented Amiad Water Systems Ltd.
Barnea & Co. represented Amiad Filtration Systems Ltd., a public company traded on the AIM, in the acquisition of a majority stake in JSK Engineering Co., an India-based supplier and manufacturer of water filtration products, from its local owner. Amiad Water Systems Ltd is a world leading water filtrations company, traded on AIM, and was the first kibbutz owned company to ever list on a foreign (non-Israeli) stock exchange, a process that was introduced and led by Barnea & Co in late 2005.
Barnea & Co. advised a well known French concern
Barnea & Co. represented Amiad Water Systems Ltd.
Barnea & Co. represented Amiad Filtration Systems Ltd., a public company traded on the AIM, in the acquisition of a majority stake in JSK Engineering Co., an India-based supplier and manufacturer of water filtration products, from its local owner. Amiad Water Systems Ltd is a world leading water filtrations company, traded on AIM, and was the first kibbutz owned company to ever list on a foreign (non-Israeli) stock exchange, a process that was introduced and led by Barnea & Co in late 2005.
Barnea & Co. advised Piraeus Bank
Barnea & Co. advised Piraeus Bank in connection with collaterals to be provided by Israeli individuals in relation to the financing of a real estate investment in residential real estate in Bucharest by a non-Israeli company.
Barnea & Co. represented SCR (Engineers) Ltd.
Barnea & Co. represented SCR (Engineers) Ltd. and its founding shareholders, in the sale of 20% of their shares to Tene Growth Private Equity Fund, for an amount of NIS 40 Million. SCR is a world leading provider of precise dairy herd management solutions.
Barnea & Co. represented Kibbutz Shefayim
Barnea & Co. represented Kibbutz Shefayim, in a NIS 5.2 Million investment in STI Security Technology Integration Ltd. STI is active in the international homeland security market, focusing on detection and prevention of terror activities for strategic facilities world-wide.
Lexology Navigator - Arbitral proceedings in Israel
As a litigation expert, Zohar Lande was chosen to be the author of the Israeli chapter of "Lexology Navigator - Arbitral proceedings in Israel ".
In this exclusive chapter, Zohar provides a market and regulatory overview in respect of Israel.