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From the news

Recent transaction and litigation

Publications

 Emergency Status Updates

From the news

Recent transaction and litigation

Publications

 Emergency Status Updates
November / 2011

Representation of the controlling shareholder of HOT Telecommunication Systems

As part of the transaction, the controlling shareholder purchased the shares of Hot, Israel’s leading cable television company, held by the public in a reverse triangular merger. The controlling shareholder financed the purchase through the issuance of bonds to a syndicate of international banks. These transactions were the last part of the establishment of a leading telecom group in Israel, after purchasing the cellular carrier HOT Mobile (formerly Mirs) from Motorola, and gradually increasing the holdings of the controlling shareholders in HOT over the last three years. The total transaction value, including other share purchases by the controlling shareholder, was $1.1 billion.

November / 2011

New Block Exemptions Legislated According to the Restrictive Trade Practices Act

The full update (in Hebrew) is available through the PDF icon.

Antitrust / Competition LawAntitrust / Competition Law
August / 2011

It’s Official: Israel Provides an Adequate Level of Data Protection

The European Commission has formally approved Israel’s status as a country that provides an adequate level of protection for personal data transferred from the EU.
David Mirchin explains the EU decision and its importance for Israeli businesses.
The full update is available through the PDF icon.
Technology and Intellectual PropertyTechnology and Intellectual Property
August / 2011

Regulatory regime for acquiring petroleum rights in Israel

Meitar partner and head of Energy and Infrastructure Group, Renelle Joffe contributed a chapter to The ILO (International Law Office) online news magazine. The chapter is an overview of the Regulatory regime for acquiring petroleum rights in Israel.

Since the discovery of the Tamar natural gas field offshore Israel in 2009, there has been a significant increase in the number of transactions connected to the acquisition of interests in petroleum rights in Israel. The bulk of these acquisitions have been carried out not by acquiring new licences, but instead by farming into existing ones – whether directly by acquiring working interests in existing licences or indirectly by acquiring equity or other interests in the licence holders. Israel is a small country and therefore most of the relevant areas, especially offshore, have already been licensed out.

The full update is available through the PDF icon.

Energy and InfrastructureEnergy and Infrastructure
May / 2011

Israeli Privacy Update: Landmark Case Establishes Guidelines for Monitoring Employee Online Activity

Typically, Israeli employers do not have an “email use” policy for their employees. If they do have a policy, it usually grants them wide-ranging powers to monitor and review their employees’ internet usage and email correspondence.
According to a recent major decision by the Israeli National Labor Court, however, this situation is likely to dramatically change. Generic, sweeping or vague internet use policies of employers will no longer be allowed. In this Privacy Update, David Mirchin reviews the court’s decision and the new guidelines for monitoring and examining the content of employee email and online activity.

The full update is available through the PDF icon.

Technology and Intellectual PropertyTechnology and Intellectual Property
March / 2011

Amendment No. 16 to the Companies Law (Improving Corporate Governance) – 2011

Dan Shamgar and Shira Azran has published a Client update describing Amendment No. 16 to the Companies Law – 1999 enacted on March 8, 2011, which primarily addresses corporate governance rules and incorporates, among others, recommendations of a committee established a few years ago by the Israeli Securities Authority (the Committee for the Review of a Corporate Governance Code, also known as the Goshen Committee).

This Client update summarizes the main provisions of the Amendment and our initial recommendations with respect thereto. The Amendment became effective on May 14, 2011, with certain provisions becoming effective on September 15, 2011.

The full update is available through the PDF icon.

Corporate and SecuritiesCorporate and Securities
March / 2011

Legislative updates and new execution order in real estate tax law

The full update (in Hebrew) is available through the PDF icon.

TaxationTaxation