2020 09.09

1. When Bank Leumi Discloses Confidential Banking Information, About Bank Abuse of the Elderly and on Ongoing Power of Attorney /Doron Afik, Esq.

An article on the lesson to be learnt from the verdict of September 03, 2020, against Bank Leumi in the Tel Aviv District Court, beyond the question of whether to keep an account with such a bank.  Bank Leumi disclosed confidential banking data of an elderly couple because a foreclosure was imposed on the name of their son, who was registered as an additional owner of the account, in case of emergency, but a lasting power of attorney can do away with the need to be registered as an additional owner.  The article was written by Doron Afik, Esq., managing partner of the law office of Afik & Co., Attorneys and Notary. The article in English may be found at the link: https://www.afiklaw.com/articles/a317

2. Corporate, Antitrust and Securities Law Update

Despite the prohibition on champerty, a right of claim in torts may be transferred when merging companies. Read more at: http://www.afiklaw.com/updates/11196

A breach of an employment agreement, as well as stealing trade secrets, constitutes a reason to invalidate an option agreement. Read more at: http://www.afiklaw.com/updates/11198

3. Commercial Law Updates

VAT on interest is deemed part of the interest for calculating the maximum allowed interest on a loan. Read more at:  http://www.afiklaw.com/updates/11200

Past experience which is tainted with fraud is inapplicable as a precondition for participation in a tender.  Read more at:  http://www.afiklaw.com/updates/11203

A bank exercising a foreclosure order wrongly on an account that was not part of the order will compensate for beach of privacy. Read more at: http://www.afiklaw.com/updates/11205

4. Real Estate Law Updates

A A purchaser of land who fails to check possession may not raise claims against another who purchased the land before him. Read more at: http://www.afiklaw.com/updates/11208