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.
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.
Meitar represented UBS and Barclays Capital as underwriters of the $500 million global notes offering by Israel Electric Company.
