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From the news

Recent transaction and litigation

Publications

January / 2010

Acknowledgment of Independent Contractor as an Employee

Meitar’s Employment and Benefits Group, has published a Client Update analyzing a recent case heard in the Israeli National Labor Court, regarding an independent contractor’s right to social benefits as an employee.

In order to prevent claims by independent contractors to receive social benefits as an employee, employers had included a section in their agreements with the independent contractor, according to which, if the independent contractor were to be deemed an employee the amounts paid to him shall be reduced accordingly by the amount of those social benefits granted to an employee. The Israeli National Labor Court has now ruled that this section is only one parameter and will not necessarily indicate the type of relationship between the parties.

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

Employment and BenefitsEmployment and Benefits
January / 2010

Flexible Working Hours

Meitar’s Employment and Benefits Group, has published a Client Update regarding a possible change in employment agreements which will enable employers to calculate employee overtime hours on a monthly basis, and not on a daily basis, according to the Working Hours Law.

According to the Working Hours Law, an employee who works over 8.36 hours a day is entitled to an overtime payment. Many employers feel frustrated in light of this legal situation, since they do not supervise their employees’ arrival and departure and wish to give them the flexibility of arranging their own working hours.
The Labor Courts in Israel have permitted employers to agree with their employees on an alternative arrangement whereby the employees’ working hours will be flexible at the employer and employee’s convenience, as long as the employee fulfills the monthly hourly quota.

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

Employment and BenefitsEmployment and Benefits
November / 2009

Sapiens International Corporation

Sapiens, looking to expand its line of products and broaden its presence in North America, acquired Harcase Software and entered into long term agreements with its three shareholders.

November / 2009

Axerra Networks Inc.

Axerra, a provider of circuit emulation and service emulation solutions over packet access networks, was acquired in October 2010 by DragonWave (listed on Nasdaq and TSX), a leading provider of high-capacity packet microwave solutions that drive next-generation IP networks.

November / 2009

Representation of Bunzl Plc in its acquisition of Silco

Meitar represented Bunzl, an LSE multi-billion traded company, which is a leading specialist distribution group supplying a broad range of non-food consumable products, in its first acquisition in Israel. The acquired company, Silco, is a leading distributor of food service disposables.

November / 2009

Representation of Amdocs in its sale of 81% of its holdings in its Chinese business for $27 million

Meitar represented Amdocs in a transaction for the realignment of its strategy in China, pursuant to which Amdocs sold 81% of its holdings in Longshine, its Chinese subsidiary, for approximately $27 million.

November / 2009

Representation of F.T.T. Investments B.V., in the sale of Elettra to France Telecom

F.T.T. Investments of the Fishman Group held a 30% interest in Elettra (a provider of a range of marine activities, including survey, installation and maintenance of submarine systems) with the remaining interests being held by Telecom Italia. In September 2010, Elettra was sold for Euro 62 million.