In July 2013 the Supreme Court held that the statute of limitations on a bank’s claim for damages due to a breach of an undertaking to register a mortgage securing a loan, commences on the date the borrower ceased to pay the monthly payments of the loan, and not, as claimed by the appellants, at the time the obligation to register the mortgage was violated. The Bank is represented by Meitar (LCA 4090/13 Deutsch vs. Bank Leumi).
Our firm is representing Lumenis, medical laser provider, in its currently contemplated $115 million public offering of ordinary shares and listing on NASDAQ.
Meitar represented Retalix a leading global provider of innovative retail software and services in its acquisition by NCR Corporation for approximately $800 million in an all cash transaction. The transaction is expected to be completed in the first quarter of 2013.
Meitar successfully represented ZAP Computing Ltd. in a legal action for trademark infringement and passing off in connection with the mark “Dapei Zahav” (Israel’s “yellow pages”), leading to the cessation of all infringing activities.
Our firm, together with the US law firm Fenwick & West LLP, represented Facebook, Inc. (NASDAQ: FB) in the acquisition of Onavo Mobile, an Israeli mobile data-saving app. Financial terms of the transaction were not disclosed.
Meitar successfully defended the board of directors of Partner Communications Ltd. in opposing a motion to certify a derivative action seeking NIS 653 million in damages and alleging negligence in the approval of dividend distributions. The motion to certify was denied in its entirety.
Our firm represented a consortium of purchasers from China and Hong Kong in the pending acquisition of a controlling interest in Clal Insurance Enterprises Holdings Ltd., a public company traded in the TASE, which is the parent company of the largest insurance group in Israel, Clal Insurance Company Ltd. The value of the transaction (including put/call options) is approximately US $700 million.
