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SEC Provides Filing Extension to Companies Affected by the Coronavirus Disease 2019 (COVID-19)
Fischer Behar Chen Well Orion & Co., March 2020

On March 4, 2020, the U.S...

Special Update - Coronavirus
Fischer Behar Chen Well Orion & Co., March 2020

The ongoing global outbreak and spread of Novel Coronavirus 2019 (COVID-19), commonly known as coronavirus, is a dramatic event of global proportions, with far-reaching implications in a wide range of areas. The spread of coronavirus directly affects capital markets, global supply chains, worldwide transportation, large-scale events and conferences, and many other aspects of commerce and business, domestic and international...

Weekly Rest Requirements for Employees in Israel
Fischer Behar Chen Well Orion & Co., January 2020

 Pursuant to Israeli employment law, an employer cannot employ workers on their weekly rest day unless it obtains a special permit from the Ministry of Labour and Social Affairs. A weekly rest is 36 consecutive hours. Under certain circumstances, it is possible to shorten shift workers' weekly rest to 25 consecutive hours. For Jewish workers, the weekly rest day is Saturday (ie, from the beginning of the Sabbath on Friday evening until Saturday evening)...

Legal Update - Aviation Law
Fischer Behar Chen Well Orion & Co., December 2019

Small Claims Appeal Application (District Court, Tel Aviv) 56432-07-17 Iberia Airlines v. Fleisher Peled et al. The District Court in Tel Aviv-Yafo with an expanded three judge panel, rejected Iberia Airlines' appeal in the matter 56432-07-17 Iberia Airlines v. Fleisher Peled et al...

Legal Update: Aviation, Maritime & Tourism
Fischer Behar Chen Well Orion & Co., September 2019

The High Court of Justice held that travel agents are not permitted to sell insurance products for outside of Israel. This is in accordance with the decision of the Ministry of Finance’s Commissioner of Capital Markets, Insurance and Savings. In July 2019, the High Court of Justice rendered its decision in the matter 2969/19 The Israel Association of Travel Agencies and Consultants v. The Commissioner of the Capital Markets, Insurance and Savings Authority...

The European, Middle Eastern and African Antitrust Review 2020: Israel Overview
Fischer Behar Chen Well Orion & Co., July 2019

Global Competition Review (GCR) published The European, Middle Eastern and African Antitrust Review 2020. The “Israel Overview” chapter was written by FBC’s Tal Eyal-Boger, Ziv Schwartz and Shani Brown. The Economic Competition Law, 5748-1988 (the Law) is the primary law dealing with antitrust issues in Israel and its objective is to prevent harm to competition or the public...

Relocation of Foreign Experts to Israel
Fischer Behar Chen Well Orion & Co., February 2019

Israeli and international organizations seeking to employ foreign workers in Israel, who are not residents or citizens of the country, in management positions or in positions requiring special expertise or training, are required to apply for a work permit. The work permit will then be issued for a “foreign expert” (B/1 permit) from the Population and Immigration Authority in Israel...

New Licensing Rules by the Israeli Innovation Authority for Multinational Corporations
Fischer Behar Chen Well Orion & Co., October 2018

At the beginning of September, the Israeli Innovation Authority, a division of the Israeli Ministry of Economy and Industry and the successor to the Office of Chief Scientist “IIA”, issued new rules “New Rules”. The “New Rules” regarded the licensing of know-how developed and obtained by Israeli companies that received grants from the IIA “Funded Companies”, to multinational corporations...

Establishing a Business in Global Guide - Israel
Fischer Behar Chen Well Orion & Co., August 2018

The Israeli legal system is mainly based on common law, but incorporates some aspects of civil law. Israeli business entities include cojmpanies, partnerships, co-operatives and non-profit organisations. Individuals can conduct business without establishing any legal entity...

Demutualization of the Tel-Aviv Stock Exchange: Opportunities and Challenges
Fischer Behar Chen Well Orion & Co., August 2018

The Israeli Securities Law was amended (Amendment No. 63) with a goal of turning the Tel-Aviv Stock Exchange (TASE) into a more competitive, efficient and profitable stock exchange, by outlining an ownership structure change of the TASE. The ownership structure change allows private investors, in addition to institutional investors, to acquire means of control over the TASE...

The European, Middle Eastern and African Antitrust Review 2019: Israel Overview
Fischer Behar Chen Well Orion & Co., August 2018

Global Competition Review (GCR) publishedThe European, Middle Eastern and African Antitrust Review 2019. The “Israel Overview” chapter was written by FBC’s Tal Eyal-Boger, Ziv Schwartz and Shani Brown...

New Amendment to the Israeli Restrictive Trade Practices Law regarding Parallel Importing
Fischer Behar Chen Well Orion & Co., July 2018

The Israeli Parliament (the Knesset) recently approved (on July 18, 2018), an amendment to the Israeli Restrictive Trade Practices Law, 5748-1988 (the “Law“) regarding parallel importing (the Restrictive Trade Practices Law (Amendment 20 – Temporary Order), 5778-2018) (the “Amendment“)...

IFLR Project Finance Report 2018 - Israel Chapter
Fischer Behar Chen Well Orion & Co., February 2018

SECTION 1: Market Overview 1.1 Please provide an overview of the project finance market in your jurisdiction. Project financing is a well-established finance scheme in Israel, widely implemented in the last 15-20 years. It is used for debt financing in a variety of sectors, particularly where public private partnership (PPP) projects are involved...

Data Protection and Privacy in Israel
Fischer Behar Chen Well Orion & Co., December 2017

The Basic Laws of Israel that comprise the county’s constitution specifically grant Israel’s citizens the right to privacy as a basic human right. This practice note provides an overview of the regulation of data protection and privacy in Israel, presented in a question and answer format. Legislative Framework • Question 1: Summarize the legislative framework for the protection of personally identifiable information (PII)...

An Important Israeli Court Decision for Dual-Listed Companies
Fischer Behar Chen Well Orion & Co., November 2017

An Important Israeli Court Decision for Dual-Listed Companies: The Liability for Breaches of Reporting Obligations by Dual-Listed Companies Is Governed by the Securities Laws of the Foreign Trading Jurisdiction.   In 2017 the Tel Aviv District Court (Economic Division, Judge Kabub) issued a decision in Cohen v. Tower Semiconductor Ltd. et al., C.A...

Instances Whereby Transfer of Funds to Foreign Residents will be Exempt
Fischer Behar Chen Well Orion & Co., September 2017

The Israeli Tax Authority ("ITA"), published a list of instances whereby transfer of funds, through banking corporations, to foreign residents will be exempt from tax withholding...

The European, Middle Eastern and African Antitrust Review 2018 - Israel
Fischer Behar Chen Well Orion & Co., September 2017

The Restrictive Trade Practices Law, 5748-1988 (the Law) is the primary law dealing with antitrust issues in Israel and its objective is to prevent harm to competition or the public. The Law contains the substantive rules that apply to the various restrictive trade practices (restrictive arrangements; mergers; monopolies; concerted groups)...

Global Cartel - Follow-on Class Actions in Israel - Is This The End?
Fischer Behar Chen Well Orion & Co., August 2017

The Israeli Supreme Court Ruling earlier this year, which establishes that, for the purpose of service out of the jurisdiction based on Regulation 500(7) of the Israeli Civil Procedure Regulations, 5744-1984 (“Civil Procedure Regulations“) – it is not sufficient to indicate damage which allegedly occurred within Israel, but rather an act or omission in Israel must be shown...

The New Design Law (Israel)
Fischer Behar Chen Well Orion & Co., August 2017

  On July 26, 2017, the Knesset approved a new Design Law (the “Design Law” or the “Law”). The Law will come into force 12 months following its publication. “Designs” are defined as the visual features of products (such as cars, electrical appliances, screen displays, furniture, jewelry, fashion, etc.), which are not purely utilitarian...

Labor Relations Update - (Israel)
Fischer Behar Chen Well Orion & Co., July 2017

New Ruling – calculation of an hourly employee’s last wage for the purpose of calculating the severance pay to which he is entitled will be made according to the partiality of his position throughout the term of his employment On June 4, 2017, the National Labor Court rendered a judgment in Labor Appeal 44824-03-16 Y.B. See Resources Ltd. vs Adhenom Berh Teami (the “See Resources Case“)...

Israeli District Court Accepts the ITA Position and Sets New Acquisition Price for Tax Purposes Between Related Parties
Fischer Behar Chen Well Orion & Co., July 2017

We write to inform you about a precedent-setting ruling by a District Court in Israel in a case between Gteko, a subsidiary of Microsoft Corporation, and the Israel Tax Authority ("ITA") regarding a transaction for the sale and purchase of intellectual property assets and its valuation.In 2006, Microsoft acquired the entire share capital of Gteko for $90 million (pursuant to a "Share Agreement")...

New Tax Circular Regarding Taxation of Holdback Payments and of the Reverse Vesting Mechanism in the Context of Mergers & Acquisitions
Fischer Behar Chen Well Orion & Co., June 2017

The Israeli Tax Authority (the "ITA") has recently published a tax circular (the "Circular") on the tax treatment of holdback payments and of the reverse vesting mechanism in the context of merger and acquisition transactions. According to the Circular, subject to certain conditions, that will be detailed below, the sale of shares to which holdback payments and reverse vesting mechanisms apply would be subject to a capital gains tax rate of 25% (30% in case of controlling shareholders)...

Newly Enacted Information Security Regulations
Fischer Behar Chen Well Orion & Co., June 2017

In recent months, the Knesset Constitution, Law and Justice Committee approved the Protection of Privacy Regulations (Information Security) 5777-2017 (hereinafter: the "Regulations"). The Regulations mark a landmark change in the field of information security in Israel and they impose substantial obligations on database owners...

Update of the Population and Immigration Authority's Guidelines in Relation with the Employment of Foreign Experts in Israel
Fischer Behar Chen Well Orion & Co., June 2017

Under Israeli law, the employment of a foreign employee who is not a citizen or resident of Israel is a criminal offense, except if the person requesting to employ the foreign employee received a special permit from the Population and Immigration Authority (the "Authority") pursuant to the Foreign Workers Law, 5751-1991...

Israel: Startup Nation Open to India and the World
Fischer Behar Chen Well Orion & Co., June 2017

FBC & Co examine the business and legal aspects of investing in one of the world’s most technologically advanced economies. Established in 1948, Israel is the world’s only Jewish state, and the sole democracy in its vicinity. Israel has a diverse open market economy. Being a relatively young state, Israel is recognized as a developed market by many major indices. Israel has been a member of the high-income sector of the OECD since 2010...

 

 

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