News

August 15th, 2017

Gorniyzky represents SHIR Shlomo Real Estate Ltd. in an exchange tender offer.

Gorniyzky represented SHIR Shlomo Real Estate Ltd., of the Shlomo Group, in an exchange tender offer swapping short-term debt with long-term debt, totalling approximately NIS 128 million.

 

The process involved a tender offer over the exchange ratio, allowing the company to choose the exchange ratio between the bond series being swapped, as well as the number of bonds the company wishes to replace.

 

SHIR Shlomo Real Estate was represented by Sharon Werker-Sagy (Partner) and Sharon Strauss (Associate).

August 3rd, 2017

Gornitzky represents the underwriters, led by Cantor Fitzgerald, in Kamada's follow-on offering. 

Gornitzky represented the underwriters, led by Cantor Fitzgerald, in the USD 15 million follow-on offering of Kamada Ltd. on the NASDAQ Global Select Market. Kamada is a plasma-derived protein therapeutics company focused on orphan indications, and its shares are dually traded on the NASDAQ and the Tel Aviv Stock Exchange.

Cantor Fitzgerald acted as sole book-running manager for the offering. Raymond James, Oppenheimer & Co., Ladenburg Thalmann and Chardan acted as co-managers for the offering.

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner), Yoav Meer (Associate), Danielle Skald (Associate) and Sharon Strauss (Associate).

July 30th, 2017

Gornitzky represents Venus Concept Ltd. in a USD 37.5 million financing round. 

Gornitzky represented Venus Concept Ltd. in a USD 37.5 million financing round from certain investment funds.

 

Venus Concept was represented by Shlomo Landress (Partner and Co-Head of our Technology practice), together with Oded Uni and Oleg Omeli.

July 11th, 2017

Gornitzky represents Strauss Group in a large-scale issuance of a new public bonds series.

Strauss Group Ltd., the largest food and beverage company in Israel, issues a new public bond series in an aggregate amount of NIS 470 million.


Strauss Group Ltd. was represented by Sharon Werker Sagy (Partner) and Shai Chen (Associate).

July 10th, 2017

Gornitzky represents “yes” in the sale of the TV series "The Good Cop" to Netflix.

Gornitzky represented “yes” in format sale agreement with Netflix, for the sale of the rights in the Israeli TV series “The Good Cop”, which includes the right to create a series based on the Israeli series.


According to the agreement, Netflix has the right to create a Netflix original series based on the Israeli series. For further reading click here.


“yes” was represented by Yoram Arad (Partner) and Laliv Amitay (Associate).

July 3rd, 2017

Gornitzky represents Strauss Group in a private placing for institutional bodies.

Strauss Group, the largest food and beverage company in Israel, issues approximately 2.7 million shares in a private placing for institutional bodies, for an aggregate sum of NIS 180 million.

 

Strauss Group Ltd. was represented by Sharon Werker Sagy (Partner) and Shai Chen (Associate).

June 26th, 2017

On 14 May 2017, Gornitzky hosted the opening session of a delegation headed by Elizabeth Proust and Carol Schwartz, two prominent leading female corporate figures with senior positions at some of Australia's largest institutions.

 

The delegation visited Israel to learn from Israeli technologies and meet with companies in the fields of foodtech, fintech and entrepreneurship. The session included a speech from Eli Elya, who heads Gornitzky's Australia Desk, as well as a presentation by iAngels with an overview of investing in Israel and innovation in Israeli technologies.

June 22nd, 2017

An Israeli chapter in the FRAPA report dealing with the protection of television formats in worldwide legal regimes.

Our firm took part in an international report incorporating 30 different countries, in the field of Media and Communications, on the matter of legal protection of television formats. The report provides a comparative review of legal options available for the protection of television formats and is a cooperation between FRAPA, a leading international organization in the area of recognition and protection of TV formats, and the global law firm, Baker McKenzie.

 

The Israeli chapter in the report was written by Lior Porat, Managing Partner and Head of Telecommunication and Media practice at our firm, together with associate Karin Shani.

 

For more information please visit the FRAPA website: https://www.frapa.org/general/formats-are-protected-by-law

June 11th, 2017

Gornitzky represents Melisron Ltd. in a NIS 900 million public offering.

Gornitzky represented Melisron Ltd. in a NIS 900 million public offering, by expanding two existing series, traded on TASE, through a shelf prospectus.

Melisron was represented by Sharon Werker-Sagy (Partner), Inbal Zackai-Horev (Senior Associate) and Shai Chen (Associate).

June 6th, 2017

Gornitzky represents Halman-Aldubi Investment House in a merger transaction.

Gornitzky represented Halman-Aldubi Investment House in a merger transaction with a publicly traded company, in which Halman-Aldubi's entire investment activity turned into the public company. Currently, Halman-Aldubi has approximately NIS 14 billion worth of assets under its management.

 

Halman-Aldubi was represented by Timor Belan (Partner), Yair Shiloni (Partner) and Itamar Ben-Yehuda (Associate).

May 11th, 2017

Gornitzky represented the underwriters, led by Jefferies and Cowen & Company, in the USD 67 million IPO of UroGen Pharma Ltd. on the NASDAQ Global Market.

Gornitzky represented the underwriters, led by Jefferies and Cowen & Company, in the USD 67 million IPO of UroGen Pharma Ltd. on the NASDAQ Global Market. UroGen Pharma is a clinical stage biopharmaceutical company developing advanced non-surgical treatments to address unmet needs in the field of urology, with a focus on uro-oncology.

 

The IPO was the first major underwritten IPO of an Israeli company in the United States since 2015.

 

Jefferies and Cowen & Company acted as joint book-running managers for the offering. Raymond James & Associates and Oppenheimer & Co. acted as co-managers for the offering.

 

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Sagit Amit Evan (Associate).

 

May 5th, 2017

Gornitzky represents Alcobra Ltd. in blocking an attempted hostile takeover.

A private investment fund, holding a certain amount of the company's shares, called for the immediate assembly of an extraordinary general meeting of shareholders, in order to remove the existing Directors and replace them with its own. Following Alcobra's refusal, based on legal advice provided by our firm, the investment fund chose to unilaterally summon an extraordinary general meeting during the month of May. Following our appeal to the Tel Aviv District Court for Economic Affairs, an injunction was issued, prohibiting the investment fund from sending out summons and proxies to the company's shareholders in Israel and abroad. At the end of the day, the sides reached an agreement, according to which it was agreed that the extraordinary general meeting of shareholders summoned by the investment fund shall be cancelled and the company shall convene its annual general meeting on July 20, 2017.

Alcobra Ltd. was represented by Kfir Yadgar (Managing Partner), Chaim Friedland (Partner), Ari Fried (Partner), Ofer Fleischer (Partner), together with Associates Shiran Knafo and Gil Palkovic

April 5th, 2017

Gornitzky represented Fattal in a transaction with Issta Group for the acquisition of 3 hotels in Cyprus, in the aggregate amount of Euro 80 million.

Gornitzky & Co. represented Fattal Hotels in a joint transaction with Issta Group for the acquisition of 3 hotels in the city of Paphos in Cyprus, in the aggregate amount of Euro 80 million.

Our firm dealt with various aspects concerning the transaction, including the shareholder's agreement between Fattal and Issta with respect to the establishment of the joint company that purchased the hotels and the long term lease agreements for the management and operation of the hotels by Fattal Group. In addition, Gornitzky represented Fattal in the finance agreement with the Phoenix Insurance Company Ltd. and additional entities from the Phoenix Group, in a principal amount of Euro 56 million, for purchasing the hotels aforementioned.

 

Fattal Hotels was represented by Kfir Yadgar (Partner) and Yiftah Farber (Partner), together with associates Aviad Rabinowitz and Dafna Sidkiyahu

April 3rd, 2017

Gornitzky's litigation team represents a founder of Ducool in a derivative action of USD 20 million against controlling shareholders.

Gornitzky's litigation team, led by Eli Cohen (Partner), represents one of the founders of Ducool Ltd., in a motion to approve a derivative action in the aggregate amount of USD 20 million against the controlling shareholders of the company.

Gornitzky's litigation team represents one of the founders of Ducool Ltd., a manufacturer of advanced air cooling systems, exported to the international market, in a motion to approve a derivative action in the aggregate amount of USD 20 million against the controlling shareholder of the company, the American private equity firm, AMatlin Patterson Global Advisors LLC, and its directors.

Within the framework of these proceedings, the fact that the respondents are located in the United States had to be taken into account in terms of whether or not the derivative action could indeed be filed, since it involved another jurisdiction. According to the Court's decision, a shareholder in an Israeli company cannot be prevented from filing a motion to approve a derivative action.

The founders of the company were represented by Eli Cohen (Partner) and Yaad Gordon (Associate).

March 7th, 2017

Gornitzky represented ADO Group LTD, from Shikun& Binui group in its issuance of new public bonds series that is supported by securities

Gornitzky represented ADO Group LTD, from Shikun& Binui group in its issuance of new public bonds series that is supported by securities. Within the framework of the issuance, ADO group raised NIS 390 million.

 

ADO Group was represented by Yair Shiloni (partner) and Itamar Ben Yehuda.

 

February 22nd, 2017

Gornitzky represents Melisron LTD in an innovative exchange tender offer for the swapping of a  bond series via a tender for the swapping ratio, totaling approximately NIS 540 million

Gornitzky represented Melisron LTD in an innovative exchange tender offer for the swapping of a bond series through a tender for the swapping ratio. As part of the process, short-term bonds were exchanged with long-term bonds (issued by way of expanding a tradable series), totaling approximately NIS 540 million. The exchange tender offer is the first of its kind, allowing the company to determine the swapping ratio between the exchanged bonds, as well as the amount of bonds which the company decides to exchange according to the offers made by holders.

 

Melisron was represented by Sharon Werker-Sagy (partner), Inbal Zackai-Horev (senior associate), Uri Heller and Shai Chen

February 2nd, 2017

Gornitzky represented the lead investors, Y.T.Y. Lenny Investments Ltd. in a Series A venture capital investment round in Guardian Optical Technologies Ltd

Guardian Optical Technologies is an innovative Israeli startup developing an advanced 3D sensor. Guardian's sensor makes cars safer and enables them to distinguish between still objects and human beings thanks to the presence of a beating heart. This sensor will prevent drivers from forgetting infants in the car as well as serve as a sensor for seat belts, the airbag system, monitoring driving, movement recognition, driver recognition, black boxes and many other applications.

 

Y.T.Y. Lenny Investments Ltd. was represented by Timor Belan (Partner) and Avi Meer.

January 19th, 2017

Gornitzky represented Shikun & Binui Ltd. in its issuance of public bonds, in which Shikun & Binui Ltd. raised NIS 348.5 million, by way of expanding an exist series of bonds


Gornitzky represented Shikun & Binui Ltd. in its issuance of public bonds, in which Shikun & Binui Ltd. raised NIS 348.5 million, by way of expanding an exist series of bonds.

Shikun & Binui Ltd. was represented by Sharon Werker-Sagy (Partner)

January 17th, 2017

Gornitzky & Co. Upgrades its Technology and Hi-Tech Practice through the addition of two new partners, proven leaders in the Technology, Hi-Tech and VC fields.

Gornitzky & Co. carried out a major move through the addition of two new partners, proven leaders in the Technology, Hi-Tech and VC fields.

 

Daniel Marcus and Shlomo Landress, previously with the Tel Aviv law firm of Amit, Pollak, Matalon & Co., will head up Gornitzky & Co.'s Technology practice and expand the capacity of the firm's International team.

 

Gornitzky & Co. is one of Israel's leading law firms, with its clients consisting of some of the central players in the Israeli economy and business community. The addition of these two partners comes as part of the Firm's strategy to grow and expand its capabilities in the Technology, Hi-Tech and VC fields, and more broadly, in its cross-border activities.

 

Daniel Marcus was born in the United States and is a graduate of Columbia University in New York City. Mr. Marcus has vast experience in the areas of Hi-Tech investments, Mergers & Acquisitions, strategic collaborations and joint ventures involving major international corporations. He regularly advises founders, VC funds and start-up companies on a broad spectrum of matters, and is an expert in the areas of agreements relating to R&D, licensing, distribution, and other related commercial arrangements.

 

Shlomo Landress, who holds an LLM from NYU, focuses his practice on U.S. securities matters, and regularly advises clients on private placements, public offerings, and public reporting and filings of companies listed on the NASDAQ. Mr. Landress also advises clients in Mergers & Acquisitions, as well as representing investors and companies in early stage and VC investment transactions. Mr. Landress was formerly the general counsel to the Israel Economic Mission to North America and was an associate in the Corporate Department in the New York office of Arnold & Porter LLP.

Gornitzky & Co. is delighted to welcome these two gentlemen to its team.

 

Pinhas Rubin, the Chairman of the Firm stated: "For several years now Gornitzky & Co. has been at the forefront of the various fields of the corporate and commercial law practice, with cutting edge professional capabilities in areas such as Litigation, Tax, M&A, Capital Markets, Finance, Telecommunications, Real Estate and Energy. The Firm's clients include many of Israel's leading corporations as well as major global corporations in the activities in Israel. It is only natural that the Firm would seek to expand its capabilities in the areas of the law relevant to the international business community, and specifically, in the Technology and Hi-Tech space which is one of Israel's central growth drivers. I have no doubt that the addition of these two new partners to our Firm, will contribute to the Firm's continued growth, expansion of its client base and its position as a top rated law firm and provider of first rate legal advice in each of the legal disciplines and services in which it provides services to its clients."

 

Chaim Friedland, who heads the Firm's international practice, added: "The addition of these two partners, whose work I've admired for many years, is a major boost to our activity in the international space, which already spans several continents and a variety of disciplines, including energy, consumer products and technology. On a personal level, I am delighted that we are adding two professionals with excellent reputations in the market, both professional and personal, and I am certain that the will find a warm and welcoming home in Gornitzky, in general, in in the International Practice Group, in particular."

 

Messrs. Marcus and Landress added: "We are excited to join Gornitzky & Co. and we are certain that this superb platform will allow us to provide a broad menu of excellent services to a diverse client base, both Israeli as well as international. We are deeply grateful to our former partners and colleagues at Amit, Pollak, Matalon & Co., and we are thankful for the many wonderful years of cooperation; we wish them all the best of luck in the future."

 

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January 11th, 2017

Gornitzky represented the Israel Corporation Ltd., the largest shareholder in Israel Chemicals Ltd., in a bond public offering amounting to 810 million NIS

During the month of January 2017 Gornitzky & Co represented the Israel Corporation Ltd., the largest shareholder in Israel Chemicals Ltd., in a bond public offering amounting to 810 million NIS.

 

The Israel Corporation Ltd was represented by Yair Shiloni (Partner) and Itamar Ben-Yehuda.

December 27th, 2016

Gornitzky represents the underwriters, led by Roth Capital, in RedHill Biopharma’s USD 39 million public offering and concurrent registered direct offering of its ADSs and warrants

Gornitzky represented the underwriters, led by Roth Capital Partners, in RedHill Biopharma’s USD 39 million underwritten public offering of American Depositary Shares (ADSs) and warrants on the NASDAQ Capital Market and concurrent registered direct offering of its ADSs and warrants. RedHill Biopharma Ltd., a biopharmaceutical company primarily focused on drugs for inflammatory and gastrointestinal diseases and cancer, is dually traded on the NASDAQ and the Tel Aviv Stock Exchange (NASDAQ: RDHL, TASE: RDHL).

Roth Capital Partners acted as the sole book-running manager and Echelon Wealth Partners acted as Canadian manager for the underwritten public offering with respect to sales in Canada. Roth Capital Partners acted as placement agent in the registered direct offering.

 

See full story

The underwriters were represented by Chaim Friedland (Partner) and Ari Fried (Partner).

December 14th, 2016

Gornitzky represented Halman-Aldubi Investment House in a merger with SoHo Real Estate

Gornitzky represented Halman-Aldubi Investment House a merger agreement with SoHo Real Estate. By this merger, Halman-Aldubi, estimated at approximately NIS 141 million, shall turn into a public company, a step that will enable the investment house to grow in additional directions. As of today, the investment house has approx. 14 billion Shekels of assets under management and about 200,000 clients.

 

For further reading in Calcalist (Hebrew)

Halman-Aldubi is represented by Timor Belan (Partner), Yair Shiloni (Partner) and Itamar Ben-Yehuda

December 8th, 2016

Gornitzky represented Bank Hapoalim and other syndicate banks in refinancing a part of Bright Food (Group) Co. Ltd.'s buyout of Tnuva

Gornitzky represented Bank Hapoalim as arranger and lender and other syndicate lenders - Discount Bank, First International Bank of Israel, Clal insurance company and The Phoenix insurance company, in a multicurrency syndicated loans for refinancing a part of Bright Food (Group) Co. Ltd.'s acquisition financing of Israeli food company Tnuva from 2015, the largest financing of a Chinese purchaser in Israel and one of the largest transactions in Israel in recent years.

The clients was represented by Eli Elya (partner), Dubi Gross (partner), Ori Yitzhak (partner), Gila Ponte-Shlush, Nir Keidar and Alon Peled

December 4th, 2016

Gornitzky successfully represented “Yes” in a license agreement with Netflix, for the worldwide distribution of the TV series “Fauda”

Gornitzky successfully represented “Yes” in a license agreement with Netflix, for the worldwide distribution of the TV series “Fauda”. According to the agreement, “Fauda” will be branded as a Netflix original series and will be the first Israeli series to receive such a status. The series will be broadcasted in its original languages of production – Hebrew and Arabic.

 

“Yes” was represented by Yoram Arad (partner) and Laliv Amitay

 

November 29th, 2016

Gornitzky successfully represented an acquisition group in rejecting a motion to disqualify an arbitrator, in addition to a request for permission to appeal before the Supreme Court

Gornitzky successfully represented an acquisition group in rejecting a motion to disqualify an arbitrator, before the honorable Judge A. Vago at the District Court, in addition to a request for permission to appeal before the Supreme Court, held before the honorable Judge Danziger at the Supreme Court.

 

Within the framework of the motion to disqualify the arbitrator and the permission to appeal, it was claimed, among others, that the arbitrator should be disqualified based on the fact that the representative of the acquisition group, Adv. Eli Cohen, was appointed as the IBA's deputy Chairman of the litigation committee, one in which the arbitrator resides as Chairman. Furthermore, said arbitrator represents a client in a separate proceeding, in which Mr. Cohen represents the opposing party.

 

In his court ruling issued in September 2016, the honorable Judge Vago ordered to dismiss the motion, whilst accepting the claim made by the acquisition group, according to which there is lack of real likelihood of bias, on the arbitrator's part, in his decision. Expenses for the procedure were imposed on the petitioner.

 

The request for permission to appeal filed by the petitioner was also rejected, while the claims made by the acquisition group were accepted and expenses for the procedure were imposed on the petitioner. In his court ruling, the honorable Judge Danziger, determined, among others, that the so-called "connection" between advocate Cohen and the arbitrator, allegedly originates from their professional acquaintance. Furthermore, any claim according to which there is real likelihood of bias, on the arbitrator's part, is far-fetched. It was also determined that the fact that the arbitrator and advocate Cohen represent clients on opposite sides in a separate proceeding, does not necessarily raise concern about a conflict of interest.

 

The acquisition group was represented by Eli Cohen (partner) and Natalie Dragot

November 24th, 2016

Gornitzky represents a subsidiary of Vitania in a transaction to receive credit in the amount of approximately NIS 138 million, for the funding of a construction project in Ramat Ha'Chayal

Gornitzky represented A.S. Ori Investments and Property (2000) Ltd. (subsidiary of the Vitania Company) in a transaction to receive credit in the amount of approximately NIS 138 million, from the First International Bank of Israel Ltd. This amount is meant to serve as a construction loan for the funding of a complex construction project, which will extend over an office area of about 20,000 sq. m. in Ramat Ha'Chayal. The complex will include commercial areas, a parking lot and underground storage facilities.

 

The Vitania Company was represented by Eyal Marom (Partner) and Itay Itzkovich (Partner)

November 9th, 2016

Gornitzky successfully represented Fattal Hotels in a motion to dismiss the objection to register a trademark, brought before the Deputy Patent Registrar.

Gornitzky successfully represented Fattal Hotels in a motion to dismiss the objection to register a trademark, brought before the Deputy Patent Registrar, as well as in the appeal against the decision to dismiss, held before the Tel Aviv District Court.


Within the framework of the objection to register the trademark, filed by a trademark owner registered in the Trademarks Database, it was claimed, among others, that Fattal's motion to register the trademark should be denied, in light of the existing concern for the mistaking of Fattal's requested trademark with that of the opposing party.


In the court ruling, issued in April 2016, the Deputy Patent Registrar ordered the full dismissal of the objection, whilst accepting Fattal's arguments with respect to lack of absence of concern over any misleading and while imposing expenses of the procedure on the opposing party.


An appeal against said court ruling, filed before the Tel Aviv District Court by the opposing party, was denied as well, following the opposing party's withdrawal of the appeal, as suggested by the Court.

 

Fattal Hotels were represented by Nimrod Saville and Karin Shani.

October 10th, 2016

Gornitzky represented Bank Hapoalim and Menora Mivtachim group as a syndication of lenders in a real estate financing project that is expected to include a large commercial centre in Hadera. 

Gornitzky successfully represented Bank Hapoalim B.M. and Menora Mivtachim group as a syndication of lenders in a real estate financing project that is expected to include a large commercial centre in “Agrobank Site” in Hadera. The financing that will be granted by the syndication will be used for the completion of the commercial centre in “Agrobank Site” in Hadera. This real estate financing necessitates highly complex agreements and a large security package.

 

Bank Hapoalim and Menora Mivtachim group were represented by Eli Elya (partner), Lior Relevy (partner), Inbal Badner, Ariel Zeevi and Moran Ben-Moshe.

October 5th, 2016

Gornitzky represented Menora Mivtachim Holdings Ltd., one of Israel's five largest insurance & finance groups, in its issuance of a new series of public bonds.

Gornitzky represented Menora Mivtachim Holdings Ltd., one of Israel's five largest insurance & finance groups, in its issuance of a new series of public bonds, in which Menora raised NIS 230 million.

Menora Mivtachim Holdings Ltd. was represented by Sharon Werker Sagy (Partner) and Uri Heller.

September 19th, 2016

Gornitzky represented A.D.O. Group Ltd. (TASE:ADO) of the Shikun & Binui Group (TASE:SKBN) in its issuance of public bonds, in which A.D.O. raised NIS 255 million.

Gornitzky represented A.D.O. Group Ltd. (TASE: ADO) of the Shikun & Binui Group (TASE: SKBN) in its issuance of public bonds, in which ADO raised NIS 255 million.
The bonds were secured by shares of its subsidiary ADO PROPERTIES S.A.. a Luxemburg company whose shares are traded on the Frankfurt Stock Exchange.

 

A.D.O. Group Ltd. was represented by Yair Shiloni (Partner), Itamar Ben-Yehuda and Shai Chen.

August 29th, 2016

Gur Yehuda Savir (partner) and Aviram Handel (partner) were interviewed in “Calcalist” about the legal issues concerning gift-giving.

Gur Yehuda Savir (partner) and Aviram Handel (partner) were interviewed in “Calcalist” where they discussed the legal issues concerning gift-giving as the gift giver tries to retain his control over the gift and the problematics that may arise as a result of such control.

 

Download PDF (Hebrew)

August 28th, 2016

Gornitzky represented the Australian Liberman family, one of the controlling shareholders of the First International Bank of Israel Ltd. in a deal to sell some of their shares

Gornitzky represented the Australian Liberman family, which is one of the controlling shareholders of the First International Bank of Israel Ltd. (through their holdings in F.I.B.I. Holdings Ltd.), in a deal to sell some of their shares in F.I.B.I Holdings Ltd. to a well-known Israeli financial entity. The shares were sold for NIS 80 million.
See full story in TheMarker (Hebrew)

 

The Liberman family was represented by Eli Elya (partner), Lior Baran and Noy Or.

August 19th, 2016

Adv. (CPA) Daniel Paserman was featured in Tax Notes International about the Israeli tax authority attempt to revoke Israel’s offshore reporting exemption for new immigrants and returning residents.

Adv. (CPA) Daniel Paserman (Partner) was featured by Tax Notes International in an article where he is interviewed about the Israeli tax authority attempt to revoke Israel’s offshore reporting exemption for new immigrants and returning residents.

 

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August 9th, 2016

Gornitzky successfully represented Meitav Dash in a NIS 80 million loan to the public company Priortech Ltd.

Gornitzky successfully represented Meitav Dash in a NIS 80 million loan to the public company Priortech Ltd. The collaterals that were provided to secure the loan included lien on shares of the public company P.C.B. Technologies, lien on shares of the public company Camtek ltd listed on both the TASE and NASDAQ and land rights. As part of the deal, the lender was granted an option to partially convert, after 24 months, shares of Camtek ltd as payment of the loan, as set by the agreed conditions.  

 

See full story in The Marker (Hebrew)

 

Meitav Dash was represented by Eli Alya (Partner), Ori Yitzhak (Partner), Shiri Shani (Partner, Real Estate), Amnon Biss, Itamar Ben-Yehuda and Noy Or

 

July 14th, 2016

Gornitzky successfully represented bank Igud by dismissing the lawsuit filed against the bank in Tel-Aviv District Court

Gornitzky successfully represented bank Igud by dismissing the lawsuit filed against the bank in Tel-Aviv District Court. The plaintiff in the lawsuit requested the court to force the bank to open him a bank account, despite the bank’s refusal. Represented by Gornitzky, bank Igud argued for the reasonability of the refusal, same as the position of Bank of Israel. This claim raised some precedential issues in Banking Law, bank-customer relations and the normative status of Bank of Israel position. The claim was dismissed with acceptance of the Bank’s argument by the District Court.

 

Bank Igud was represented by Harel Shaham (partner),Nimrod Saville and Shiran Knafo

July 6th, 2016

Yoram was quoted in The Times of Israel Article “Israel walks tightrope in clash with Facebook, Google”:

June 9th, 2016

Gornitzky represents I.D.B. Development in a petition for dissolution and a motion to appoint a temporary liquidator

Gornitzky represented I.D.B. Development in a petition for dissolution and a motion to appoint a temporary liquidator filed on June 1st, 2016, on its behalf, by the Series 9 bondholders' trustee. Following an urgent court session held on June 7, 2016 before the honorable Judge Brenner, and upon the court's recommendation, the trustee withdrew the motion to appoint a temporary liquidator. The dissolution will be discussed in a court session set foot September 2016.  

 

 See related article in Globes and Calcalist

 

I.D.B. Development Ltd. Is represented by Pinhas Rubin (Firm Chairman), Ofer Tzur (Head of Litigation), Kfir Yadgar (Partner), Yair Shiloni (Partner), Shirin Gabbay-Metzger and Shiri Nass Magid

June 1st, 2016

Gornitzky represented IPM Beer Tuvia in an agreement for the purchase of natural gas  from the Leviathan project JV for an aggregagte amount of appx. USD 3 billion 

Gornitzky represented IPM Beer Tuvia in an agreement for the purchase of natural gas from the Leviathan project JV for an aggregagte amount of appx. USD 3 billion for a 430MW power plant, which will be built in Beer Tuvia. Construction costs are estimated to be about USD 400 million.In addition, our firm provides ongoing legal advice, regarding the construction, operation and financing of the plant.

 

See related article in TheMarker (Hebrew)

 

IPM is represented by Jack Smith (Partner), Dubi Gross (Partner) and Moshe Krieger.

May 26th, 2016

Gornitzky represented A.D.O. Group Ltd. (TASE: ADO) - controlled by Shikun & Binui Group (TASE: SKBN), in the preparation and filing of a shelf prospectus. 

Gornitzky represented A.D.O. Group Ltd. (TASE: ADO) - controlled by Shikun & Binui Group (TASE: SKBN), in the preparation and filing of a shelf prospectus. Gornitzky advised and represented the company before the Securities Authority and the Tel Aviv Stock Exchange Ltd. in order to publish the prospectus.

A.D.O. Group Ltd. was represented by Yair Shiloni (Partner) and Itamar Ben-Yehuda.

May 23rd, 2016

Gornitzky represented Strauss Group Ltd. in preparing a Shelf Prospectus

Gornitzky represented Strauss Group Ltd. in preparing a Shelf Prospectus and receiving approval of TASE for the registration of the Securities for trade on TASE.

Strauss Group Ltd. was represented by Sharon Werker-Sagy (partner) and Maya Dvir

April 16th, 2016

Gornitzky represented A.D.O. Group Ltd. (TASE: ADO) - controlled by Shikun & Binui Group (TASE: SKBN( in two tender offers for its shares, amounting to a total aggregate of NIS 350 million. 

Gornitzky represented A.D.O. Group Ltd. (TASE: ADO) - controlled by Shikun & Binui Group (TASE: SKBN( in two tender offers for its shares, amounting to a total aggregate of NIS 350 million.

 

Gornitzky represented and advised the company's management and Board of Directors in connection with the public offers, the consultation included advising on various aspects of corporate and securities law matters as well as tax matters.

 

A.D.O. Group Ltd. was represented by Yair Shiloni (Partner), Itamar Ben-Yehuda. and Michal Karzbrun

April 11th, 2016

Gornitzky & Co. is representing AHAVA shareholders in connection with the sale of 100% of AHAVA's shares to Fosun Group for an aggregate price of NIS 290 million

Gornitzky represented the shareholders of AHAVA - Dead Sea Laboratories Ltd., a manufacturer of cosmetic products composed of mineral-rich mud from the Dead Sea. Its products are sold in over 25 different countries. Gornitzky advised the shareholders in connection with the sale of 100% of the shares to the large Chinese investment conglomerate, Fosun Group, for an aggregate price of NIS 290 million. Within the framework of the agreement, Fosun will purchase the share capital of all of AHAVA’s shareholders, Gaon Holdings, the Livnat family, Shamrock Israel Growth Fund, Kibbutz Mitzpeh Shalem and Kibbutz Kalia.

 

See related article in Globes, one of Israel’s leading financial daily newspapers.

 

The shareholders were represented by Chaim Friedland (Partner, Corporate/M&A), Yoav Meer  (Corporate), Nir Knoll (Corporate), Danielle Skald (Tax), Bar Sarafian (Employment)

April 6th, 2016

Gornitzky reperesent private companies controlled by Zeitouni and Gindi in a Nis 185 million transaction 

Gornitzky reperesent private companies controlled by Zeitouni and Gindi in a Nis 185 million transaction. A. Zeitouni and Moshe and Yigal Gindi purchased two plots of land in Givat Shmuel from a subsidiary of Menora Mivtachim Holdings, with a total area of 7 Dunams, for the construction of 200 residential units.


See full story (Hebrew)

 

Both companies were represented by Adv. Eyal Marom (Partner) and Adv. Maya Hoftman.

March 30th, 2016

Dan Public Transportation Ltd. sold 50% of its land rights in Bnei Brak to Ashtrom Properties Ltd.. The two plan to construct, among others, three office buildings, as well as a commercial complex

Dan Public Transportation Ltd. And Ashtrom Propertie Ltd. completed a transaction to sell 50% of the rights in the Dan Garage in Bnei Brak to Ashtrom for 100 million NIS.

 

According to the agreement, Dan and Ashtrom will establish a partnership, in which they will realize the land rights in order to build an office and commercial complex in the extent of 1000 sqm., including two buildings.

 

The said land is about 3.3 acres in the city of Bnei Brak. Today, it serves as a garage and bus parking lot for Dan. The partnership intends to construct three office buildings, about 35 floors each, as well as a commercial complex. In the first stage, a 40,000 sqm. tower will be built, followed by an additional similar tower, which will include, among others, commercial areas, offices and upper and underground parking lots. Simultaneously, the partnership will act to receive additional rights which will enable the construction of the third tower.

 

See full story (Hebrew)

 

Dan Group was represented by Adv. Shlomo Cohen (Partner) and Adv. Lior Relevy (Partner) and Lior Grinblat

March 16th, 2016

Gornitzky represented Osem in a motion to deny an urgent petition by one of Osem's shareholders to grant temporary relief, for the purpose of postponing the general meeting of Osem's shareholders

Gornitzky & Co. represented Osem Investments Ltd. (TASE: OSEM, a part of the Nestle group)  in a motion to deny an urgent petition by one of Osem's shareholders to grant temporary relief, for the purpose of postponing the date on which the general meeting of Osem's shareholders is scheduled to take place (March 17th, 2016). The meeting's agenda will include the approval of the reverse triangular merger between Osem and Nestle, in which Nestle is expected to purchase public holdings in Osem, which in turn will become a private company under Nestle's full ownership.

 

Osem Investments Ltd. was represented by Adv. Noam Ronen (Partner) and Adv. Tom Alkalay

March 13th, 2016

Gornitzky & Co. represent I.D.B. Development in a motion to amend I.D.B. Holdings' creditor arrangement, following which I.D.B. Development will be delisted from trading in the Tel-Aviv Stock Exchange

Gornitzky & Co. represent I.D.B. Development in a motion to amend I.D.B. Holdings' creditor arrangement, following which I.D.B. Development will be delisted from trading in the Tel-Aviv Stock Exchange.
I.D.B. Development's trustee for Series 9 bondholders objected the motion claiming, among others, that the company was insolvent and that the suggested amendment could not ensure the company's full commitments until the end of the year.
On March 10th, 2016, a court session was held at the District Court in Tel Aviv, before the honorable Judge Brenner, upon which a decision was issued, approving the amendment of the

 

 

See full story (Hebrew)

 

I.D.B. Development is represented by Pinhas Rubin (Chairman of the Firm), Kfir Yadgar (Partner) and Yair Shiloni (Partner).

March 1st, 2016

On March 20th, 2016, Adv. (C.P.A) Daniel Paserman (Partner) will be lecturing at a conference at the ILP. The subject is Private Philanthropy in Israel- Obstructions and Opportunities.

On March 20th, 2016, Adv. (C.P.A) Daniel Paserman (Partner), Head of the firm's Tax practice, will be lecturing at a conference at the Institute for Law and Philanthropy (ILP) at Tel Aviv University's Faculty of Law. The subject of the lecture is Private Philanthropy in Israel- Obstructions and Opportunities. Also attending the conference will be Prof. Joseph Klafter (President of Tel Aviv University), Prof. Ron Harris (Dean of the Faculty of Law, Mrs. Dafna Meitar-Nechmad (President of the Zvi and Ofra Meitar Family Fund), Prof. David Hahn (Administrator General and Official Receiver), Prof. Yoram Margalioth (Director of the Institute for Law and Philanthropy), Prof. Miranda Perry Fleischer, Adv. Galia Feimer, Mr. Noam Lautman and Mrs. Noa Krauss-Lahav.

 

For the conference program and registration click here

February 25th, 2016

Gornitzky represents IHI, owner of the Hilton Tel Aviv hotel, in their Merger Notification and Request for an Exemption to a Restrictive Agreement filed with the Israeli Antitrust Authority.

Gornitzky represented IHI, owner of the Hilton Tel Aviv hotel, in their Merger Notification and Request for an Exemption to a Restrictive Agreement filed with the Israeli Antitrust Authority. The filing had to do with the renewal of an agreement that will allow IHI and Hilton's continuous management of the prestigious Hilton hotel, in the coming 20 years.

 

See the decision of the Antitrust Authority


The antitrust representation was led by Adv. Avner Finkelstein (partner) and Adv. Noga Blickstein Shchory.

February 16th, 2016

Gornitzky represented the sole investor in a USD 2 million venture investment in a healthcare startup.

Gornitzky represented the sole investor in a USD 2 million venture investment in a healthcare startup.

The investor was represented by Ori Yitzhak (Partner, Corporate/M&A), Gil Grady (Partner, Tax) and Avi Meer.


The investment was the investor’s second investment in the startup following the startup’s USD 3 million Series A round in August 2013. Gornitzky (Yisrael Spero (Partner, Corporate M&A) and Avi Meer) represented the investor in the Series A round.

February 4th, 2016

Gornitzky represented Osem Investments Ltd., in a substantial “Reverse Triangular Merger” pursuant to which Nestle shall acquire all Osem’s "floating shares” in cash (representing a valuation of NIS 9.13 Billion)

Gornitzky represented Osem Investments Ltd. (“Osem”), one of the leading companies in the food industry is Israel, in a substantial “Reverse Triangular Merger” pursuant to which Nestle S.A. ("Nestle"), the controlling shareholder of Osem, shall acquire all Osem’s "floating shares" (held by the public) in a cash consideration representing a valuation of NIS 9.13 Billion for Osem. Subject to the completion of the merger transaction, Osem will be delisted from TASE and become a private company wholly owned by Nestle.


See full story (Hebrew)


Osem was represented by Lior Porat (Partner), Yair Shiloni (Partner) and Uri Heller (Associate). 

January 3rd, 2016

Gornitzky represents Israel Corp  in a motion to approve a derivative suit pertaining Israel Corp's previous CEO, Mr. Nir Gilad, employment terms prior to 20th Amendment of the Israeli Companies Law.

Gornitzky successfully represented Israel Corp in a motion to approve a derivative suit pertaining Israel Corp's previous CEO, Mr. Nir Gilad, employment terms approved prior to 20th Amendment of the Israeli Companies Law (addressing the compensation and salary approval process for senior executives). The Tel Aviv District Court dismissed the suit against Israel Corp and its Board Members.


See full articel in Globes magazine (Hebrew)


Israel Corp was represented by Pinhas Rubin (Firm Chairman), Lior Porat (partner) and Shirin Gabbay-Metzger

December 8th, 2015

Gornitzky's Chaim Friedland (Partner) was featured in "Globes" Magazine expressing his support in amending the Israeli Companies Law in such a way that will facilitate and de-regulate Dual-listed companies.

Gornitzky's Chaim Friedland (Partner) was featured in "Globes" Magazine expressing his support in amending the Israeli Companies Law in such a way that will facilitate and de-regulate Dual-listed companies - “We are on a path to a place more professional and practical. It will be less intimidating to list on Tel Aviv Stock Exchange” said adv. Friedland and added: “the important news is the new direction”.

 

See full story (Hebrew)

December 2nd, 2015

Gornitzky represents the underwriters, led by Apex Issuances, in a NIS 265 million unsecured bonds IPO on the Tel Aviv Stock Exchange, made by Strawberry Fields REIT, Ltd.

Gornitzky represents the underwriters, led by Apex Issuances, in a NIS 265 million unsecured bonds IPO on the Tel Aviv Stock Exchange, made by Strawberry Fields REIT, Ltd, a BVI company based in the U.S. which owns 39 income generating properties in the U.S., used as retirement homes and medical facilities. 

 

The underwriters were represented by Yair Shiloni (partner) and Sagit Amit Evan.

November 25th, 2015

Lior Porat (Partner) was featured in an article in "TheMarker" magazine with regards to public companies board members' liabilities 

Lior Porat (Partner) was featured in an article in "TheMarker" magazine with regards to public companies board members' liabilities vis-a-vis a recent Supreme Court ruling mentioning that "board members are well aware of the matter and public companies today are very meticulous on keeping elaborated protocols".


Read the full story (hebrew item)

November 11th, 2015

Gornitzky represented the underwriters, led by Piper Jaffray, in Vascular Biogenics Ltd.’s (operating as VBL Therapeutics) USD 15 million offering of shares and warrants on the NASDAQ Global Market. VBL Therapeutics is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of first-in-class treatments for cancer.

Gornitzky represented the underwriters, led by Piper Jaffray, in Vascular Biogenics Ltd.’s (operating as VBL Therapeutics) USD 15 million offering of shares and warrants on the NASDAQ Global Market. VBL Therapeutics is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of first-in-class treatments for cancer.

 

Piper Jaffray & Co. acted as sole bookrunner for the offering. JMP Securities acted as lead manager and Roth Capital Partners and LifeSci Capital acted as co-managers.

 

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Yoav Meer.

 

October 26th, 2015

Adv. Pinhas Rubin, head of the firm, stressed the importance of inequality in the tax system: “Tax equality is important, but there are cases where separation and inequality are wanted”, said Rubin.

Adv. Pinhas Rubin, head of the firm, stressed the importance of inequality in the tax system: “Tax equality is important, but there are cases where separation and inequality are wanted”, said Partner Pinhas Rubin and added that the state should not only offer Google tax benefits but also pay the Company to arrive to Israel: “I am in favour of inequality to those kind of businesses for the greater good of Israel”. This was said during the Tax Convention of The Research Institute on Society and Economy. Convention participants included: Mr. Yoram Gabay, former head of State Revenue Division, Mr. Uriel lynn, Head of the Federation of Israeli Chambers of Commerce, Prof. Yoram Margalioth, Tax Professor in the Buchmann faculty of law in Tel Aviv University and Mr. Yoel Naveh, Chief Economist and head of State Revenue Division.

September 16th, 2015

Gornitzky & Co. represented Fortissimo Capital Fund in its acquisition of Fishman Thermo Technologies LTD. Fishman is a leading manufacturer and supplier of cooling system products for the automotive industry.

Gornitzky & Co. represented Fortissimo Capital Fund in its acquisition of Fishman Thermo Technologies LTD from Tene for Investment F.E., Limited Partnership, Origo 1 Manof Fund, Limited Partnership, Origo 2 Manof Fund, Limited Partnership & Ilanit Cohen. Fishman is a leading manufacturer and supplier of cooling system products for the automotive industry.

Fortissimo Capital Fund was represented by Chaim Friedland (Partner, Corporate/M&A), Avner Finkelshtein (Partner, Antitrust), Yehonatan RafAvi Meer, Nir Knoll and Noa Schweitzer

September 8th, 2015

At the 4th Annual Legal Conference of the Israeli Bar Association, Adv. Pinhas Rubin, partner, strongly condemned the delay in approving the gas outline agreement.  Rubin argued that monopoly is not a derogatory word and that monopolies are not illegal “particularly given that it contributes 8 billion dollars annually to the state”. Conference participants included, among others, Supreme Court President Miram Naor, Opposition Leader Isaac Herzog, Ministers, members of the Knesset and numerous attorneys. Read the full story: (Hebrew)

August 9th, 2015

Gornitzky represented Delek Real Estate Ltd. in a successful hearing process in which it was decided not to press charges against the Company

Following a successful preliminary hearing, in which Advocates Pinhas Runin (Partner), Erez Harel (Partner) and Hila Shimon represented Delek Real Estate Ltd., the Tel Aviv District prosecution decided not to press charges against the Company (and against Ilik Rojansky – former CEO) and resolve the case in a discontinuance of the proceeding settlement (in which the company will only bear a financial sanction).

July 22nd, 2015

Gornitzky represents the underwriters, led by Nomura and Roth Capital, in RedHill Biopharma’s USD 40 million public offering of ADSs

 

 

 

 

 

Gornitzky represented the underwriters, led by Nomura and Roth Capital Partners, in RedHill Biopharma’s USD 40 million public offering of American Depository Shares (ADSs) on the NASDAQ Capital Market. RedHill Biopharma Ltd., a biopharmaceutical company primarily focused on drugs for inflammatory and gastrointestinal diseases, is dually traded on the NASDAQ and the Tel Aviv Stock Exchange (NASDAQ: RDHL, TASE: RDHL).

 

Nomura Securities and Roth Capital Partners acted as joint book-running managers for the offering. MLV & Co. and H.C. Wainwright acted as co-managers for the offering.

 

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Sagit Amit Evan.

 

 

July 20th, 2015

Gornitzky represented Nes-Pan in Mega Retail Creditor Arrangement

 

Gornitzky represented Nes-Pan (a subsidiary of Amot Investments) in a stay of proceedings requested by Eden Teva Market (a subsidiary of Mega Retail). Nes-Pan is one of Eden Teva Markets' Creditors, leasing a property to the company in Be'er Sheba.

 

Nes-Pan was represented by Ms. Orly Tenennbaum (Partner) and Mr. Daniel Lasry.

 

 

July 20th, 2015

Gornitzky represents Osem (a part of the Nestle group) in the successful dismissal of a motion to approve a consumer claim as a class action

Gornitzky represented Osem Investments Ltd. (TASE: OSEM, a part of the Nestle group) in the successful dismissal of a motion to approve a consumer claim as a class action with respect to an alleged violation of the Food Labeling Regulations (36 - Chocolate and 1145 - labeling prepacked food) and an alleged misleading of its consumers regarding the labeling of its Fitness cereals products ("Fitness White chocolate", "Fitness chocolate" and "Fitness Dark chocolate").

Haifa District Court dismissed the motion, and awarded Osem with unusual legal fees and expenses.    

 

Osem Investments Ltd. was represented by Noam Ronen (Partner) and Tom Alkalay

 

For more information on our class actions practice, visit here.

July 8th, 2015

Gornitzky represented Oxygen and Argon Works Ltd. in the signing of a NIS 186 million investment transaction with FIMI Opportunity Funds.

Gornitzky represented Oxygen and Argon Works Ltd. ("OXAR"), one of Israel's largest manufacturers and suppliers of industrial gases, in the signing of a NIS 186 million investment transaction with FIMI Opportunity Funds, for which FIMI shall receive 51% of OXAR's share capital. The closing of the investment is subject to, inter alia, the approval of the Israel Antitrust Authority.

 

Oxygen and Argon Works provides industrial gases to over 500 institutions and factories in Israel, including leading companies in the metal, electronic, chemical, petrochemical, food, glass and recycling (environmental) industries, as well as research institutes, universities, medical institutions and the Israeli Ministry of Defense.

 

The representation of Oxygen and Argon Works Ltd. was led by Gur Y. Savir (Partner) and Uri Heller. The proceedings vis-à-vis the Israel Antitrust Authority are being led by Avner Finkelshtein (Partner) and Noa Schweitzer.

July 1st, 2015

Gornitzky represented Milchan Media Ltd. in the sale of a portion of its shares in Israel's Channel 10 to the R.G.E Group Ltd.

 

Gornitzky represented Milchan Media Ltd. in the sale of a portion of its shares in Israel's Channel 10 to the R.G.E Group Ltd. Channel 10, one of only three privately-owned broadcasting channels in Israel. The channel has recently been granted a 15-year broadcasting license, making Channel 10 the first of the three to obtain such license. 

 

Milchan Media is ultimately owned by Mr. Arnon Milchan, a well-known international film producer who has produced over 130 full-length motion pictures (including Pretty Woman, 12 Years a Slave, Gone Girl, L.A. Confidential, Fight Club, and Mr. and Mrs. Smith).

 

Milchan Media Ltd. was represented by Lior Porat (Partner) and Yoav Meer.

June 28th, 2015

Gornitzky represented Bank Hapoalim, Mizrahi Tefahot Bank, and The Phoenix as lenders in a NIS 600 million syndicated loan to Mashav - Initiating and Development Ltd., a private holding company which owns Israel's sole producer of cement.

Gornitzky represented Bank Hapoalim, Mizrahi Tefahot Bank, and The Phoenix as lenders in a NIS 600 million syndicated loan to Mashav - Initiating and Development Ltd., a private holding company which owns, among others, Nesher Israel Cement Enterprises Ltd., Israel's sole producer of cement. The loan will be used, in part, to refinance Mashav's debt to the syndication and, in part, for the development of its activities and investments in the areas of industry, infrastructures and energy.


The lenders were represented by Eli Elya (Partner), Inbal Badner and Nir Keidar.

 

June 22nd, 2015

Gornitzky representsShikun & Binui Ltd in the drafting and publishing of a shelf prospectus, and a following debt offering

 

 

Gornitzky represented Shikun & Binui Ltd, one of Israel’s leading real - estate and infrastructure companies, in the drafting and publishing of a shelf prospectus on the Tel - Aviv stock Exchange, followed by a debt offering to the public in an aggregate amount of approximately NIS 350 million.

 

Shikun & Binui Ltd was represented by Sharon Werker-Sagy (partner), Yoav More, Ben Goldman and Michael Goffer.

June 9th, 2015

Gornitzky is representing IC Power Ltd. in the NIS 60 million purchase of a 120 MW co-generation power plant in Hadera.

Gornitzky is representing IC Power Ltd. in the NIS 60 million purchase of a 120 MW co-generation power plant in Hadera from Hadera Paper Ltd. Following the acquisition, IC Power will exclusively provide Hadera Paper with electricity for a period of 21 years. The closing of the purchase is subject to, inter alia, the approval of the Israel Antitrust Authority.

 

 


IC Power Ltd. is represented by Jack Smith (Partner), Moshe Krieger, Arielle Ruimi, Shira Porat and Moran Shanni. The proceedings vis-à-vis the Israel Antitrust Authority are being led by Avner Finkelshtein (Partner).

May 26th, 2015

Gornitzky is representing the Agrexco liquidators in a lawsuit against the State of Israel, which was recently approved to go to court. 

Gornitzky is representing the Agrexco liquidators in a lawsuit against the State of Israel, which was recently approved to go to court. In the lawsuit, the liquidators attribute responsibility for Agrexco's near NIS 500 million debt and subsequent bankruptcy collapse to the behavior of the State and affiliated entities, which controlled Agrexco, for their improper use of the company to promote national and other agendas that were contrary to the company's best business interest and created financial instability.

 

The liquidators, led by Dr. Shlomo Nass, are represented by Pinhas Rubin (Firm Chairman), Yaron Elhawi (Partner), Ofer Fleischer (Partner) and Shani Weiss.

 

For related news click here and here

.

May 20th, 2015

Senior partner Pinhas Rubin speaks about banks confidentiality in the Israel Bar Association Annual Conference opening Panel. Read the full story: (Hebrew)

May 19th, 2015

Senior partner Moriel Matalon speaks in the Israel Bar Association Annual Conference opening Panel. Read the full story: (Hebrew)

May 13th, 2015

Partner Lior Relevy was featured in an article in The Marker regarding the deferential costs between Tama Israel and new building projects. Read the full story: 

Hebrew Item
April 27th, 2015

Gornitzky represented the TASE in the successful dismissal of a NIS 648 million motion to approve a class action filed against the stock exchange. 

Gornitzky represented the Tel Aviv Stock Exchange in the successful dismissal of a NIS 648 million motion to approve a class action, filed against the stock exchange in relation to the fees charged by it, and in connection with the articles of association and directions published by the Stock Exchange. Honorable Judge Haled Kabub accepted the arguments raised by Gornitzky (on behalf of the TASE), and dismissed the motion in limine, for reasons of lack of rivalry and lack of authority.

 

The Tel Aviv Stock Exchange was represented by Pinhas Rubin (Firm Chairman), Harel Shaham (Partner), Noga Haruvi and Amnon Biss.

April 1st, 2015

Gornitzky represented National Petroleum Ltd. in the sale of its shares in West Indies Oil Company Ltd. to the Government of Antigua and Barbuda.

Gornitzky represented National Petroleum Ltd., a Bermuda company, in the sale of its shares in West Indies Oil Company Ltd., an Antiguan energy company and a regional leader, to the Government of Antigua and Barbuda.

National Petroleum Ltd. was represented by Moriel Matalon (Managing Partner) and Yoav Meer.

March 30th, 2015

Gornitzky & Co. represented the Bank Hapoalim and other syndicate banks in financing a part of Bright Food (Group) Co., Ltd.'s buyout of the Israeli food company, Tnuva.  

Gornitzky & Co. represented the Bank Hapoalim (as arranger and original lender) and other syndicate banks (Bank Discount, First International Bank of Israel and Clal Insurance Enterprises Holdings Ltd.) in financing a part of Bright Food (Group) Co., Ltd.'s buyout of the Israeli food company, Tnuva.  


The lenders were represented by Eli Elya (Partner and Practice Head), Elite Elkon May-Tal (Partner), Dubi Gross (Partner), Nir KeidarOri Yitzhak, Gila Ponte-Shlush, Amnon Biss and Ady Abrams.

March 25th, 2015

Gornitzky & Co. represented the underwriters, led by Wells Fargo and RBC, in the USD 40 million initial public offering of SteadyMed Ltd. on the NASDAQ Global Market. 

Gornitzky & Co. represented the underwriters, led by Wells Fargo and RBC, in the USD 40 million initial public offering of SteadyMed Ltd. on the NASDAQ Global Market. SteadyMed is a specialty pharmaceutical company focused on the development of drug products to treat orphan and high value diseases with unmet parenteral delivery needs.

Wells Fargo Securities and RBC Capital Markets acted as joint book-running managers for the offering. JMP Securities acted as lead manager for the offering.

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Yoav Meer.

March 5th, 2015

Partner Michael Ayalon stresses the importance of written employment contracts, employee's rights and employer's requirements before the 2015 labor law conference.

Read the full story (Hebrew):

February 15th, 2015

Gornitzky & Co. represented the underwriters, led by Wells Fargo, in RedHill Biopharma’s USD 14.4 million public offering of American Depository Shares (ADSs) on the NASDAQ Capital Market.

Gornitzky & Co. represented the underwriters, led by Wells Fargo, in RedHill Biopharma’s USD 14.4 million public offering of American Depository Shares (ADSs) on the NASDAQ Capital Market. RedHill Biopharma Ltd., a biopharmaceutical company primarily focused on drugs for inflammatory and gastrointestinal diseases, is dually traded on the NASDAQ and the Tel Aviv Stock Exchange (NASDAQ: RDHL, TASE: RDHL).

 

Wells Fargo Securities acted as lead book-running manager and Roth Capital Partners acted as joint book-running manager for the offering. MLV & Co acted as co-manager for the offering.

 

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Sagit Amit Evan.


For more information on our capital markets practice, please click here.

February 9th, 2015

Gornitzky represented 3D Systems Corporation (NYSE: DDD) in its USD 97 million acquisition of all outstanding shares in Cimatron Ltd. (NASDAQ: CIMT), a leading provider of integrated 3D CAD/CAM software products.

Gornitzky represented 3D Systems Corporation (NYSE: DDD) in its USD 97 million acquisition of all outstanding shares in Cimatron Ltd. (NASDAQ: CIMT), a leading provider of integrated 3D CAD/CAM software products.

 

3D Systems Corporation, a market leader in 3D printing, was represented by Chaim Friedland (Partner), Assaf Harel, Yehontan Raff, Danielle Skald (Tax), Bar Sarafian (Labor Law) and Ben Goldman.

February 2nd, 2015

Gornitzky represented Fortissimo in its acquisition of a group of companies, including Enercon Ariel Ltd.

Gornitzky & Co. represented Fortissimo Capital Fund in its acquisition of a group of companies, including Enercon Ariel Ltd. The companies develop, produce and market power supply and UPS systems, which are used by leading manufacturers of aviation, aerospace, naval and ground military/defense equipment, as well as for civilian use. The purchase amount is undisclosed.

 

Enercon Ariel Ltd. is a leading designer/manufacturer of custom power supplies for the aerospace and defense industries.

 

Fortissimo Capital Fund was represented by Chaim Friedland (Partner), Timor Belan (Partner), Avner Finkelshtein (Partner, Antitrust), Michael Ayalon (Partner, Labor Law), Idan Baki (Partner, Finance), Shira Porat (Finance), Lior Grinblat, and Ariel Davis.   

January 26th, 2015

Gornitzky & Co. represented Fortissimo Capital Fund in its acquisition of Synergy Cables Ltd. for NIS 15 million. 

Gornitzky & Co. represented Fortissimo Capital Fund in its acquisition of Synergy Cables Ltd. for NIS 15 million. The transaction was conducted through the Beer Sheba District Court in the context of corporate reorganization proceedings with respect to Synergy Cables and its publicly traded bonds.

Synergy Cables, headquartered in Sderot, Israel, is a global supplier of power & electrical cables.

Fortissimo Capital Fund was represented by Chaim Friedland (Partner, Corporate/M&A), Yaron Elhawi (Partner, Restructuring & Insolvency), Yair Shiloni (Partner, Capital Markets), and Avner Finkelshtein (Partner, Antitrust).

January 15th, 2015

Gornitzky represented Le Peigne in its investment in Moovit, as part of a consortium of investors in Moovit’s USD 50 million financing round. 

Gornitzky represented Le Peigne in its investment in Moovit, as part of a consortium of investors in Moovit’s USD 50 million financing round. Le Peigne is controlled by the Arnault Group, which also controls Christian Dior and LVMH Moet-Hennessy—Louis Vitton. 

 

Moovit is a mobile application that enables users to track information on public transport. 

 

Le Peigne was represented by Chaim Friedland (Partner) and Yoav Meer.

December 29th, 2014

Gornitzky represented Shanghai GEOC Hengtong Investment Limited Partnership, a Chinese investment fund, and its affiliate, Fortune China Ltd. in a USD 10 million investment in Highcon Systems Ltd.

Gornitzky represented Shanghai GEOC Hengtong Investment Limited Partnership and its affiliate, Fortune China Ltd., in a USD 10 million investment in Highcon Systems Ltd. 

 

Highcon Systems Ltd. is the manufacturer of a revolutionary digital converting solution for the Direct-to-Pack Folding Carton sector, the Highcon Euclid - the world’s first production digital cutting and creasing machine.

 

Shanghai GEOC Hengtong Investment Limited Partnership and Fortune China Ltd. were represented by Timor Belan (Partner) and Avi Meer.

December 23rd, 2014

Gornitzky represented Bank Hapoalim in three simultaneous real-estate financing transactions with Neptune Hotel Ltd., Sella Capital Real Estate Ltd. and Issta Israel Ltd. 

Gornitzky represented Bank Hapoalim (TASE: POLI) in three separate and simultaneous real-estate financing transactions with Neptune Hotel Ltd. (of the ILDC Group), Sella Capital Real Estate Ltd. (TASE: SLARL) and Issta Israel Ltd.

 

Bank Hapoalim was represented by Eli Elya (Partner, Banking and Finance), Lior Relevy (Real Estate), Inbal Ravid-Badner, Nir Keidar and Lior Baran.

December 14th, 2014

Gornitzky hosted a Workshop for the Economic Analysis of Law at Tel-Aviv University in loving memory of the firm's partner, Adv. Ariel Zelichov, ob"m.

Gornitzky hosted a Workshop for the Economic Analysis of Law at Tel-Aviv University in loving memory of the firm's partner, Adv. Ariel Zelichov, ob"m.


Speakers at the event included: Prof. Sharon Hannes, Ms. Einat Zelichov, Firm Chairman Pinhas Rubin, Dr. Shai Lavi and Managing Partner Moriel Matalon.

November 19th, 2014

Gornitzky represented the underwriters, led by Jefferies and Cowen and Company, in the USD 45 million initial public offering of NeuroDerm Ltd. on the NASDAQ Global Market.

Gornitzky represented the underwriters, led by Jefferies and Cowen and Company, in the USD 45 million initial public offering of NeuroDerm Ltd. on the NASDAQ Global Market.


Jefferies and Cowen and Company acted as joint book-running managers for the offering. Oppenheimer & Co. and Roth Capital Partners acted as co-managers for the offering.

 

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Yehonatan Raff.

November 4th, 2014

Gornitzky & Co. co-hosted a strategy and business development forum together with Deloitte Brightman Almagor Zohar, on the topic of "How to Consistently be at the Forefront of Innovation in Your Field."  

Gornitzky & Co. co-hosted a strategy and business development forum together with Deloitte Brightman Almagor Zohar, on the topic of "How to Consistently be at the Forefront of Innovation in Your Field."  The forum was attended by leading Israeli strategy and business development executives, with featured speakers including Gur Y. Savir, partner at Gornitzky & Co., and Shahar Florence, CFO of Strauss Group.

 

The forum meets on a quarterly basis and serves as a platform for sharing information and professional tools.

October 6th, 2014

Gornitzky represented the underwriters, led by Deutsche Bank, in the USD 40 million initial public offering of Vascular Biogenics Ltd. (operating as VBL Therapeutics) on the NASDAQ Global Market.

Gornitzky represented the underwriters, led by Deutsche Bank, in the USD 40 million initial public offering of Vascular Biogenics Ltd. (operating as VBL Therapeutics) on the NASDAQ Global Market.

 

Deutsche Bank acted as book-running manager for the offering. JMP Securities and Oppenheimer & Co. acted as co-managers for the offering.

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Yoav Meer.

September 15th, 2014

Gornitzky represented Shanghai GEOC Hengtong Investment Limited Partnership, a Chinese investment fund, and its affiliate, Fortune China Ltd. in a USD 12.5 million investment in InSightec Ltd.

Gornitzky represented Shanghai GEOC Hengtong Investment Limited Partnership and its affiliate, Fortune China Ltd., in a USD 12.5 million investment in InSightec Ltd.

 

InSightec Ltd. is a global leader and pioneer in MR-guided focused ultrasound therapy for non-invasive treatment of various clinical indications.

 

Shanghai GEOC Hengtong Investment Limited Partnership and Fortune China Ltd. were represented by Timor Belan (Partner), Yehonatan Raff and Bat-Chen Mazor.

August 5th, 2014

Gornitzky & Co. represented the underwriters, led by Credit Suisse and Jefferies in Macrocure Ltd.’s USD 53.5 million initial public offering on the NASDAQ Global Market.

Gornitzky & Co. represented the underwriters, led by Credit Suisse and Jefferies in Macrocure Ltd.’s USD 53.5 million initial public offering on the NASDAQ Global Market.

Credit Suisse and Jefferies acted as joint book-running managers for the offering. Nomura Securities and Oppenheimer & Co. acted as co-managers for the offering.

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Yoav Meer.

May 5th, 2014

Chaim Friedland, a partner at Gornitzky & Co., was featured in an article in The American Lawyer magazine on the rising business activity in Israel's financial markets.

Chaim Friedland, a partner at Gornitzky & Co., was featured in an article in The American Lawyer magazine on the rising business activity in Israel's financial markets and the growing number of Israeli companies listed outside Israel.

 

Mr. Friedland attributes the growth to the fact that, "The companies that are coming out of Israel are highly innovative and cater to global markets.  They have outgrown the size of the Israeli stock exchange." Mr. Friedland believes that Israeli companies' natural affinity for US stock markets creates an opportunity to raise US investors' awareness of Israeli companies.  This, together with the inviting Israeli regulations for foreign investors, has had a major hand in the economic turnaround Israel has witnessed over the last year.

April 1st, 2014

Gornitzky represented Strauss Investments (1993) Ltd. in a change of shareholders composition in Reshet-Noga Ltd., the Israeli Channel 2 concessioner. 

Gornitzky represented Strauss Investments (1993) Ltd. in a change of shareholders composition in Reshet-Noga Ltd., the Israeli Channel 2 concessioner, and the entrance of a new major shareholder – Endemol Group.

 

Strauss Investments (1993) Ltd. was represented by Lior Porat (Partner), Avner Finkelstein (Partner, Antitrust) and Yoav Meer.

March 26th, 2014

Gornitzky & Co. represented the underwriters, led by Credit Suisse, Jefferies and BMO Capital Markets, in MediWound Ltd.’s USD 80.5 million initial public offering on the NASDAQ Global Market.


Gornitzky & Co. represented the underwriters, led by Credit Suisse, Jefferies and BMO Capital Markets, in MediWound Ltd.’s USD 80.5 million initial public offering on the NASDAQ Global Market.

 

Credit Suisse, Jefferies and BMO Capital Markets acted as joint book-running managers for the offering. Oppenheimer & Co. acted as co-manager for the offering.

 

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Yoav Meer.

March 5th, 2014

Gornitzky & Co. represented the underwriters, led by Bank of America Merrill Lynch and Jefferies, in the USD 151 million secondary public offering of shares of Enzymotec Ltd. on the NASDAQ Global Select Market.


Gornitzky & Co. represented the underwriters, led by Bank of America Merrill Lynch and Jefferies, in the USD 151 million secondary public offering of shares of Enzymotec Ltd. on the NASDAQ Global Select Market.

 

Bank of America Merrill Lynch and Jefferies acted as joint book-running managers for the offering. Wells Fargo Securities acted as lead manager for the offering and Canaccord Genuity and Wedbush Securities acted as co-managers for the offering.

 

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Yoav Meer.

February 27th, 2014

Gornitzky hosted a conference, attended by over 500 individuals, at the Tel Aviv Museum of Art in celebration of its 75 years of legal excellence.

 

Gornitzky hosted a conference, attended by over 500 individuals, at the Tel Aviv Museum of Art in celebration of its 75 years of legal excellence.

 

Guest lecturers included Prof. Aharon Barak, President of the Supreme Court (ret.), and Former Prime Minister Ehud Olmert. A panel including Prof. Eitan Sheshinski, Justice Bracha Ofir (ret.), Shlomo Maoz and Pinhas Rubin (Firm Chairman) was moderated by Nechemia Strassler. Closing remarks were delivered by Moriel Matalon (Managing Partner).

 

February 3rd, 2014

Gornitzky & Co. represented Fattal Hotels Ltd. in an agreement with Amot Investments Ltd. (TASE: AMOT) to lease Building C in the Amot Insurance Project in Tel Aviv, for the opening of a new business hotel.

Gornitzky & Co. represented Fattal Hotels Ltd. in an agreement with Amot Investments Ltd. (TASE: AMOT) to lease a 9,200 square meter building in Tel Aviv, for the opening of a new business hotel.


Fattal will convert the building into a 190-room business hotel under the Leonardo brand at investment of NIS 50 million. The lease is for a total of 24 years and 11 months – after the conversion of the building over a period of one year, the 20-year lease will come into effect, with an option to extend the lease by four years.


Fattal Hotels Ltd. was represented by Shlomo Cohen (Partner) and Maya Hoftman.

January 23rd, 2014

Gornitzky & Co. hosted a strategy and business development forum together with Deloitte Brightman Almagor Zohar, on the topic of "One Step Ahead of the Competition".  

Gornitzky & Co. hosted a strategy and business development forum together with Deloitte Brightman Almagor Zohar, on the topic of "One Step Ahead of the Competition".  The forum was attended by leading Israeli strategy and business development executives, with featured speakers including Pinhas Rubin, the Chairman of Gornitzky & Co.

 

The forum will be meeting on a quarterly basis and is intended to serve as a platform for sharing information and professional tools.

January 19th, 2014

Pinhas Rubin, Chairman of Gornitzky & Co. and Israel's leading tax law expert, was featured in an article in The Marker newspaper discussing tax havens and the increasing difficulty in their utilization.

 

Pinhas RubinChairman of Gornitzky & Co. and Israel's leading tax law expert, was featured in an article in The Marker newspaper discussing tax havens and the increasing difficulty in their utilization.

 

Mr. Rubin emphasized that, "Unlike in the past, the tax havens do not create a tight blockage on information. Today it is easier to know who is behind a company, corporation or trust, even if they are located in a tax haven." Mr. Rubin attributes this limited transparency not only to legislative changes in the tax havens themselves, but rather namely to the unwillingness of the majority of the world's banks to open an account without the prior exposure of the identity of the real beneficiaries and of those behind the companies in question.

January 15th, 2014

Gornitzky & Co. represented A.D.O. Group Ltd. (TASE: ADO) in a NIS 100 million public rights issue offering.

Gornitzky & Co. represented A.D.O. Group Ltd. (TASE: ADO) of the Shikun & Binui Group (TASE: SKBN) in its public rights offering, in which the company raised NIS 100 million in exchange for shares and options.

 

A.D.O. Group Ltd. was represented by Yair Shiloni (Partner) and Itamar Ben Yehuda.

November 17th, 2013

Gornitzky's Daniel Paserman was featured by The International Who’s Who of Private Client Lawyers discussing levels of activity, increased disclosure between governments regarding the tax affairs of high net worth individuals and regulatory changes.

Gornitzky's Daniel Paserman was featured by The International Who’s Who of Private Client Lawyers in a discussion on private wealth. The discussion was focused mainly on levels of activity, increased disclosure between governments regarding the tax affairs of high net worth individuals and regulatory changes.

October 3rd, 2013

Gornitzky & Co. represented the underwriters, led by Bank of America Merrill Lynch and Jefferies, in the USD 71 million initial public offering of Enzymotec Ltd. on the NASDAQ Global Select Market.

Gornitzky & Co. represented the underwriters, led by Bank of America Merrill Lynch and Jefferies, in the USD 71 million initial public offering of Enzymotec Ltd. on the NASDAQ Global Select Market.

 

Bank of America Merrill Lynch and Jefferies LLC acted as joint book-running managers for the offering. Wells Fargo Securities, LLC acted as lead manager for the offering and Canaccord Genuity and Wedbush Securities acted as co-managers for the offering.

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Yoav Meer.

September 11th, 2013

Gornitzky represented Rutledge Vine Capital in its equity investment in Tok Media International Ltd., a private company in the social media space. 

Gornitzky represented Rutledge Vine Capital in its equity investment in Tok Media International Ltd., a private company in the social media space. Rutledge's investment in Tok Media is its second investment in the company following an investment earlier this year, where it was also represented by Gornitzky.

Rutledge Vine Capital is a global Super Angel Investor that provides early stage venture funding to startup and seed companies and technovation research projects across the globe.

Rutledge was represented by Ari Fried (Partner) and Yehonathan Raff.

 

August 8th, 2013

Gornitzky & Co. was featured in the Globes newspaper as one of the few workplaces in Israel that opens its doors and provides day-camp for children of employees at the firm.

Gornitzky & Co. was featured in the Globes newspaper as one of the few workplaces in Israel that opens its doors and provides day-camp for over 50 children of employees at the firm. The day-camp includes a full day of activities, as well as an end-of-summer pool party at the home of Moriel Matalon (Managing Partner).

 

As to the question of whether the presence of the children at work has an adverse effect on productivity, Mr. Matalon says, "On the contrary. The camp is in the firm's office building, but in a separate area.  Not only are the parents at ease knowing that their children are in good and professional hands throughout the summer, but they are now closer than ever and productivity actually rises."

July 25th, 2013

Gornitzky & Co. mourns the untimely passing of our beloved friend and partner, Hagar Alon-Windman. 

Gornitzky & Co. mourns the untimely passing of our beloved friend and partner, Hagar Alon-Windman at the age of 35. We send our heartfelt condolences to her husband, daughters, parents and the entire Alon-Windman family.

 

The family is sitting shiva at the Alon residence at 26 Meiron Street in the Neve Hillel neighborhood of Rishon L'Tzion.

 

May the mourners be comforted among the mourners of Zion and Jerusalem and may they know no more sorrow.

July 19th, 2013

Gornitzky represented YES Pharma Ltd. in its purchase of 33% ownership of Stereokem Inc., a developer and manufacturer of active pharmaceutical ingredients (APIs).

Gornitzky represented YES Pharma Ltd. in its purchase of 33% ownership of Stereokem Inc. a developer and manufacturer of active pharmaceutical ingredients (APIs). Stereokem is a US-based pharmaceutical industry leader, with much of its business concentrated in India.

 

Yes Pharma Ltd. is a distribution company, involved in both exclusive representation and global supply of pharmaceutical ingredients, with specialization in providing full sourcing options, complete technical capabilities and regulatory support for a wide range of APIs.

 

Yes Pharma was represented by Yisrael Spero (Partner) and Ariel Davis.

July 2nd, 2013

Gornitzky represented Mr. Ziel Feldman in the Tel Aviv District Court's dismissal of a request by Bank Discount to declare Feldman bankrupt.

Gornitzky represented American real estate mogul, Mr. Ziel Feldman, in the Tel Aviv District Court's dismissal of a request by Bank Discount to declare Feldman bankrupt.

 

Honorable Judge Eitan Orenstein rejected and dismissed Bank Discount's request to declare Feldman bankrupt following arguments made by Gornitzky regarding the factual complexity of the dispute, and, inter alia, the disagreement over the alleged NIS 138 million debt and the questionable legality of the interest rates applied to the loan by Bank Discount.

 

Mr. Ziel Feldman was represented by Ofer Tzur (Partner, Head of Litigation) and Harel Shaham (Partner).

 

 

June 26th, 2013

Gornitzky & Co. represented Nilit Ltd. in agreements with a division of Delek the Israel Fuel Corp. Ltd. for the conversion of Nilit's fuel oil consuming facilities to natural gas based facilities

Gornitzky & Co. represented Nilit Ltd., an international manufacturer of nylon for the textile and plastic industries, in agreements with a division of Delek the Israel Fuel Corp. Ltd. (TASE: DLKIS) for the conversion of Nilit's fuel oil consuming facilities in Migdal Ha'Emek to natural gas based facilities and for the supply and purchase by Nilit of compressed natural gas (CNG), which will be delivered to Nilit by way of special purpose CNG tankers.


Nilit Ltd. was represented by Jack Smith (Partner) and Moshe Krieger.

June 12th, 2013

Gornitzky & Co. represented Profimex Ltd. in its investment in a multifamily community known as Cabot Crossing Apartment in Lowell, Massachusetts, valued at USD 20.3 million.  

Gornitzky & Co. represented Profimex Ltd. in its investment in a multifamily community known as Cabot Crossing Apartment in Lowell, Massachusetts, valued at USD 20.3 million. 

 

Profimex Ltd. is a global real estate and renewable energy investment firm that serves as a premier provider of global real estate investment opportunities for High Net Worth Individuals and institutional investors, and organizes joint investment schemes with foreign investors in each local jurisdiction.

 

Profimex Ltd. is represented by Daniel Paserman (Partner), Yisrael Spero (Partner) and Avi Meer.

June 9th, 2013

Gornitzky represented Rutledge Vine Capital in its second equity investment in Getonic Ltd., a private company which developed a social-shop platform. 

Gornitzky represented Rutledge Vine Capital in its second equity investment in Getonic Ltd., a private company which developed a social-shop platform. Rutledge's investment in Getonic is its second investment in the company following an investment made in mid-2012, where it was also represented by Gornitzky.

 

Rutledge Vine Capital is a global Super Angel Investor that provides early stage venture funding to startup and seed companies and technovation research projects across the world.

 

Rutledge was represented by Ari Fried (Partner).

June 8th, 2013

Gornitzky & Co. represented Profimex Ltd. in its investment in a portfolio of two neighboring core-plus real estate properties in Newton, Massachusetts, valued at USD 49 million.  

Gornitzky & Co. represented Profimex Ltd. in its investment in a portfolio of two neighboring core-plus real estate properties in Newton, Massachusetts, valued at USD 49 million. 

 

Profimex Ltd. is a global real estate and renewable energy investment firm that serves as a premier provider of global real estate investment opportunities for high net worth individuals and institutional investors, and organizes joint investment schemes with foreign investors in each local jurisdiction.

 

Profimex Ltd. is represented by Daniel Paserman (Partner), Yisrael Spero (Partner) and Avi Meer.

June 4th, 2013

Gornitzky & Co. represented Starhome BV in their purchase of MACH, which is being divested by Syniverse Technologies LLC.

Gornitzky & Co. represented Starhome BV in their purchase of MACH’s data clearing and NRTRDE business within the European Economic Area, under a corporate divestiture by Syniverse Technologies LLC, as mandated and instructed by the European Commission (antitrust). The acquisition is contingent upon approval of the transaction by the European Commission and other applicable jurisdictions.

 

Starhome is a leading global provider of international roaming solutions and their products are used by more than 200 mobile operators worldwide, including by 20 of the 30 largest operators in the world. MACH is a leading provider of cloud-based managed communication services worldwide.

 

Starhome BV was represented by Chaim Friedland (Partner, Corporate/M&A), Yoram Arad (Partner, Technology/Commercial), Yisrael Spero (Partner, Corporate/M&A/Regulatory), Yehonatan Raff, Avi Meer and Ariel Davis.

May 2nd, 2013

Gornitzky & Co. hosted an event attended by over 100 Israeli future students, who will be studying for their MBA next year in the United States.

Gornitzky & Co. hosted an event attended by over 100 Israeli future students, who will begin studying for their MBA next year in the USA, representing almost 20 of the world's leading MBA programs. The event, which took place at the firm's offices in Tel Aviv, included short lectures by an immigration lawyer, an Israel-US taxation specialist, a moving and relocation company, and more.

April 24th, 2013

Gornitzky advised Prolor Biotech Inc. in their merger with Opko Health Inc., under which Opko will acquire Prolor in a stock-for-stock merger valued at approximately USD 480 million.

Gornitzky advised Prolor Biotech Inc. (AMEX: PBTH; TASE: PBTH) in connection with their proposed merger with Opko Health Inc. (NYSE: OPK). Under the merger agreement, Opko will acquire Prolor for USD 480 million in shares, one third more than its market cap of approximately USD 370 million. The merger is subject to various conditions, including stockholder approval and regulatory approvals.

 

Prolor Biotech Inc., a biopharmaceutical company focused on developing and commercializing longer-acting proprietary versions of already approved therapeutic proteins, was represented by Chaim Friedland (Partner, Corporate), Gil Grady (Partner, Tax), Dubi Gross (Partner, Corporate), Avner Finkelshtein (Antitrust), Yehonatan Raff and Ariel Davis.

April 21st, 2013

Partners Daniel Paserman and Aviram Handel lectured at a family wealth management conference sponsored by Gornitzky & Co.

Partners Daniel Paserman and Aviram Handel lectured at a family wealth management conference sponsored by Gornitzky & Co. and attended by over 200 of Israel's high net worth individuals. Topics covered by the two included efficient methods for the transfer of family assets, and developments in the taxation of high net worth individuals.

March 18th, 2013

Gornitzky represented Partner Communications (Orange) in the successful dismissal of a derivative suit petition filed against the company's directors, which challenged the distribution of dividends and obtainment of loans. 

Gornitzky represented Partner Communications (commercially branded as "Orange") in the successful dismissal of a derivative suit petition filed against the company's directors, which challenged the distribution of dividends by Partner and loans obtained during the same period. The claim made by Gornitzky & Co., that the petition for the approval of the derivative suit was based upon economic and legal errors and should therefore be dismissed, was accepted by Judge Khaled Kabub of the Tel Aviv District Court.

 

Partner Communications (Orange) was represented by Mr. Pinhas Rubin (Firm Chairman), Mr. Lior Porat (Partner) and Ms. Sagit Ohana-Livne (Partner).

 

February 27th, 2013

Gornitzky & Co. represented Fattal Group in their NIS 1.5 billion purchase of 20 hotels in Germany - one of the largest hotels deals in Europe in recent years.

Gornitzky & Co. represented Fattal Group in their NIS 1.5 billion purchase of 20 hotels in Germany - one of the largest hotels deals in Europe in recent years.

 

Fattal Group, together with a consortium of international investors, signed an agreement to acquire from Goldman Sachs the entire share capital of the Queens Moat Houses (Germany) Holding GmbH, which maintains a portfolio of the 20 hotels.

 

Fattal Group was represented by Mr. Jack Smith (Partner), Mr. Dubi Gross (partner), Ms. Shiri Shani (Partner) and Mr. Yisrael Spero (Partner).

February 15th, 2013

Gornitzky & Co. represented Melisron Ltd., controlled by the Ofer Brothers Group, in the sale of two if its shopping malls for NIS 1.02 billion to a consortium of insurance companies.

Gornitzky & Co. represented Melisron Ltd. (TASE: MLSR), controlled by the Ofer Brothers Group, in the sale of two if its shopping malls - the Renanim Mall in Ra'anana and the Savionim Mall in Yehud - for NIS 1.02 billion to a consortium of insurance companies.

 

Melisron is selling the malls under its terms of agreement with the Israel Antitrust Authority following the acquisition of British Israel. This is one of the largest shopping mall transactions conducted in Israel's income producing property market in recent years.

 

Melisron Ltd. was represented by Shlomo Cohen (Partner) and Itai Itzkovich.

February 1st, 2013

Gornitzky & Co. represented one of the world's leading banks in the Israeli aspects of a USD 50 million loan facility to an international biotechnology company with an Israeli subsidiary.

Gornitzky & Co. represented one of the world's leading banks (traded on the Deutsche Börse and the NYSE) in the Israeli aspects of a USD 50 million loan facility to an international biotechnology company with an Israeli subsidiary.

 

The bank was represented by Benjamin Waltuch (Partner), Idan Baki (Partner) and Ariel Davis.

January 27th, 2013

Noam Ronen, a partner at Gornitzky & Co., was featured in an article in the Calcalist newspaper discussing a future in which the transfer of tort claims may no longer be prohibited.

Noam Ronen, a partner at Gornitzky & Co., was featured in an article in the Calcalist newspaper discussing a future in which the transfer of tort claims may no longer be prohibited, further to the recent precedent ruling of the Israeli Supreme Court in a case regarding a tort claim made by Banco Bilbao of Argentine.

 

According to Mr. Ronen, the prohibition to transfer tort claims is somewhat archaic in today's commercial world. "If we all agree that you can 'sell' or reassign a contractual right to receive money, as seen during the sub-prime crisis with the sale of mortgage loans from one bank to another, then why not permit the sale of the right to sue for damages?" Ronen believes that the day is approaching when tort claims will be a transferable asset, just as any other asset can be assigned, transferred and even sold.

 

He also points to the possibility that trading tort claims can be harmful to the world of class actions. "Suppose a town suffers from an environmental nuisance due to a factory. A seasoned claimant goes door-to-door and 'purchases' the claim rights from the townspeople. Now he is suing the factory, but not in a class action suit, but rather as his own personal claim, as the claim rights were sold to him. He can settle with the factory on behalf of all the residents, without them ever receiving full compensation, while he receives his recoupment without any criticism. Have we not then bypassed the class action mechanism and its purpose?"

January 7th, 2013

Avner Finkelshtein, who leads Gornitzky's Antitrust & Competition practice, was featured in an article in the Calcalist newspaper discussing the Israel Antitrust Authority's shift in focus from classic cartels to bid rigging offenses.

Avner Finkelshtein, who leads Gornitzky's Antitrust & Competition practice and is the formerly Deputy Director and legal counsel of the Investigations Department at the Israel Antitrust Authority (IAA), was featured in an article in the Calcalist newspaper discussing the Israel Antitrust Authority's shift in focus from classic cartels to bid rigging offenses.

 

Mr. Finkelshtein speculates that this phenomenon, which he believes will only grow with time, is not only the product of what the IAA calls 'a national calamity', but rather "It is possible that there is a more practical explanation that stems from the relative ease by which the IAA can expose and investigate tender bid rigging offenses. Procurement managers in the public or private sector that are even the slightest bit alert can easily spot suspicious activity patterns of tender bidders." And this, Mr. Finkelshtein maintains, shortens the process leading to an investigation and discovery of bid rigging offenses, unlike with classic cartels, which is much more difficult to prove.

January 2nd, 2013

Gornitzky & Co. represented Hadas Arazim Investment House, in a merger transaction with Halman-Aldubi, subsequent to which the joint investment house will manage assets and investment in the scope of approximately USD 5 billion.

Gornitzky & Co. represented Hadas Arazim Investment House, in a merger transaction with Halman-Aldubi, subsequent to which the joint investment house will manage assets and investment in the scope of approximately USD 5 billion.

 

The transaction included the transfer and sale of shares in Hadas Arazim's subsidiaries, the merger of Hadas Arazim's provident funds management company with Halman Aldubi's provident funds management company and the refinancing of bank loans.

 

Hadas Arazim was represented by Chaim Friedland (Partner), Timor Belan (Partner) and Inbal Ravid-Badner.

December 31st, 2012

Throughout the course of 2012, Gornitzky & Co. represented Profimex Ltd. in a series of 12 syndicated investments in real estate properties across the United States and the UK with a total value of USD 900 million.

Throughout the course of 2012, Gornitzky & Co. represented Profimex Ltd. in a series of 12 syndicated investments in real estate properties across the United States and the UK with a total value of USD 900 million.

 

Profimex Ltd. is a global real estate and renewable energy investment firm that serves as a premier provider of global real estate investment opportunities for High Net Worth Individuals and institutional investors, and organizes joint investment schemes with foreign investors in each local jurisdiction.

 

Profimex Ltd. is represented by Daniel Paserman (Partner), Dr. Zvi Gabbay (Partner), Yisrael Spero and Guy Avner.

December 17th, 2012

Recently, Gornitzky & Co. welcomed two new partners to its ranks, Mr. Harel Shaham and Mr. Yisrael Spero. Also to join the firm, are seven new associates.

Recently, Gornitzky & Co. welcomed two new partners to its ranks, Mr. Harel Shaham and Mr. Yisrael Spero. Also to join the firm, are seven new associates.

 

Mr. Shaham has been an associate with the firm since 2006 and specializes in complex civil and commercial litigation cases, including in the fields of capital markets, shareholder disputes, real estate, tenders, insurance, slander, administrative law and labor law, as well as in class actions and derivative suits.

 

Mr. Spero has been an associate with the firm since 2007 and focuses his legal practice on domestic and cross border M&A transactions, private equity investments and complex commercial transactions.


Gornitzky & Co. has also welcomed seven new associates to its ranks, including Ms. Joanna Yanowsky, who was previously an associate at a leading, boutique labor law firm, and Ms. Shirin Gabbay-Metzger, Ms. Elinor Vardi, Ms. Noga Haruvi, Ms. Bat-Hen Mazor, Mr. Yoav Meer and Mr. Ram Shchory, who have recently completed their legal clerkship at the firm.

December 11th, 2012

Gornitzky & Co. represented Mr. Avi Gross in a USD 2 million non-brokered private placement in Elbit Vision Systems Ltd. 

Gornitzky & Co. represented Mr. Avi Gross in a USD 2 million non-brokered private placement in Elbit Vision Systems Ltd.

 

As part of the private placement, Gross will initially be allotted 5.3 million shares in exchange for USD 500,000 and will also extend the company a USD 300,000 loan. Furthermore, Gross will also receive two warrants - the first warrant exercisable for up to USD 200,000 of ordinary shares and the second for up to USD 1,000,000 of ordinary shares.

 

Mr. Gross was represented by Mr. Timor Belan (Partner) and Mr. Ariel Davis.

 

December 2nd, 2012

Dr. Zvi Gabbay, a partner at Gornitzky and former Head of Enforcement at the Israel Securities Authority, believes that two recent decisions rendered by an Administrative Enforcement Tribunal are indicative of the ISA's attempt to utilize the administrative enforcement procedure in order to broaden the scope of its authority.

According to the Israeli newspaper, Calcalist, Dr. Zvi Gabbay, a partner at Gornitzky and former Head of Enforcement at the Israel Securities Authority, believes that two recent decisions rendered by an Administrative Enforcement Tribunal are indicative of the ISA's attempt to utilize the administrative enforcement procedure in order to broaden the scope and type of entities that are under its supervision, such as the non-public companies Tnuva and Apax and day trader Rafael Dahan.

 

"I believe that the administrative enforcement proceeding is good and appropriate, and yet it seems that the ISA utilizes it to expand the scope of its authority, and that is not what it was intended for," said Dr. Zvi Gabay. "Of the only two decisions that the Administrative Enforcement Committee publicized thus far, you can see a clear trend towards organizations and people who are not supervised by the ISA.  It is inappropriate to take advantage of the process for expanding control."

 

Dr. Gabbay was interviewed in response to the Administrative Enforcement Committee decision rendered in the matter of Refael Dahan, an independent investor, whose daily investment activities were interpreted by the ISA as deliberate influence on certain share prices.

November 27th, 2012

Gornitzky & Co. represented Israel Corporation and its subsidiaries in the purchase of 16-20 billion cubic meters of natural gas from the Tamar partners for USD 4 billion.

Gornitzky & Co. represented Israel Corporation and its subsidiaries in the purchase of 16-20 billion cubic meters of natural gas from the Tamar partners for USD 4 billion.

 

According to the purchasing contract, three of Israel Corporation's subsidiaries - Israel Chemicals Ltd. (TASE: ICL), Oil Refineries Ltd. (TASE:ORL), and OPC Rotem Ltd. - will buy the gas from the Tamar field over a period of several years.

 

In 2010, Gornitzky represented Israel Corporation in the signing of a gas purchasing contract with Egypt's East Mediterranean Gas Company (EMG), a contract which was subsequently rendered unnecessary when Egypt suspended all gas deliveries to Israel.

 

Israel Corporation is Israel's second largest buyer of natural gas after Israel Electric Corporation.

 

Negotiations on behalf of Israel Corporation were led by Jack Smith (Partner) and Moshe Krieger.

November 21st, 2012

Gornitzky represented Gandyr Group in the signing of an agreement for the purchase of Odem Partnership from Enlight Renewable Energy Ltd., of the Eurocom Group, for approximately NIS 19 million.

Gornitzky represented Gandyr Group in the signing of an agreement for the purchase of Odem Partnership from Enlight Renewable Energy Ltd., of the Eurocom Group, for approximately NIS 19 million. Within the framework of the deal, Gandyr Group will receive all rights in the partnership, as well as its liabilities, including a financing agreement with Bank Hapoalim.

 

Odem Partnership holds 62 solar energy facilities with an aggregate installed capacity of approximately 3 MW.

 

Gandyr Group was represented by Timor Belan (Partner), Amit Gelbard and Arielle Ruimi.

 

November 9th, 2012

Gornitzky is representing a private Canadian company, controlled by Elad Canada's controlling shareholder, in the issuance of an ordinary tender offer for the purchase of traded Series 1 options of Elad Canada.

Gornitzky is representing a private Canadian company, controlled by Elad Canada's controlling shareholder, in the issuance of an ordinary tender offer for the purchase of traded Series 1 options of Elad Canada.  The options are exercisable for ordinary shares, at a total amount of up to approximately NIS 61 million.

 

Sharon Werker-Sagy (Partner) and Etai Mashiah are leading the representation.

October 31st, 2012

Gornitzky's lawyers successfully argued, on behalf of Ben Gurion University in their appeal before a subcommittee of the Council for Higher Education, that the committee not prohibit students from enrolling in the political science department next year and thereby, in effect, close it down.

Gornitzky's lawyers successfully argued, on behalf of Ben Gurion University in their appeal before the subcommittee of the Council for Higher Education, that the committee not prohibit students from enrolling in the political science department next year and thereby, in effect, close it down.

 

The subcommittee had come to their initial decision after the department had been criticized for being politically imbalanced and lacking certain professional standards. Gornitzky's lawyers claimed before the subcommittee that their recommendation to close the department was illegal and not within the scope of their authority.

 

Ben Gurion University was represented by Mr. Moriel Matalon (Managing Partner) and Mr. Ofer Fleischer.  

October 19th, 2012

Gornitzky & Co. represented Fortissimo Capital in their USD 80.3 million purchase of Starhome BV, a subsidiary of Comverse Technology Inc. (NASDAQ: CMVT), as well as in the financing of the transaction.

Gornitzky & Co. represented Fortissimo Capital,  in their USD 80.3 million purchase of Starhome BV, a subsidiary of Comverse Technology Inc. (NASDAQ: CMVT), as well as in the financing of the transaction.

 

In addition to legal representation of the private equity fund in the purchase and financing of the transaction, Gornitzky & Co. also negotiated a complex transitional services agreement, which provides Starhome with continued support services from Comverse.

 

Starhome is a leading provider of international roaming solutions and their products are used by more than 200 mobile operators worldwide, including by 20 of the 30 largest operators in the world. Fortissimo Capital is a group of private equity funds managing half a billion dollars.

 

Fortissimo was represented by Chaim Friedland (Partner, Corporate/M&A), Benjamin Waltuch (Partner, Corporate/M&A), Yoram Arad (Partner, Technology/Commercial), Idan Baki (Partner, Banking/Finance), Avner Finkelshtein (Antitrust), Yehonatan Raff  and Ariel Davis.

September 11th, 2012

Earlier this month, Gornitzky & Co. welcomed a new partner to the firm, Mr. Dubi Gross. Also to join the firm, over the summer, are four new associates.

Earlier this month, Gornitzky & Co. welcomed a new partner to the firm, Mr. Dubi Gross. Also to join the firm, over the summer, are four new associates.

 

Mr. Dubi Gross is qualified as an Advocate in Israel and a Solicitor in England & Wales. Dubi served as an associate at Gornitzky, from 2001-2006, before receiving his LL.M. at the London School of Economics and Political Science. Thereafter, Dubi worked for five years in the Banking & Capital Markets group in the London office of White & Case, where he was involved in various types of financing transactions and debt restructurings in the banking sector.

 

Gornitzky & Co. has also welcomed four new associates to its ranks over the course of the summer: Mr. Tsachi Hoftman, Mr. Itamar Ben Yehuda, Ms. Lior Grinblat and Mr. Avishai Marom.

September 10th, 2012

Gornitzky represented ADO Group Ltd. in a deal to bring in Harel Group as a strategic partner in the company by way of allotment of shares and convertible debentures to Harel Group in exchange for NIS 75 million.

Gornitzky represented ADO Group Ltd. in a deal to bring in Harel Group as a strategic partner in the company by way of allotment of shares and convertible debentures to Harel Group in exchange for NIS 75 million.

In the context of this transaction, Gornitzky assisted the company in their negotiations with Harel and in the obtainment of the necessary consents from third parties, as well as in capital markets related aspects.

 

ADO Group Ltd. is a public company listed on the Tel Aviv Stock Exchange.

 

Mr. Yair Shiloni (Partner), Mr. Ori Yitzhak and Mr. Yonatan Zehavi led the representation.

 

August 30th, 2012

Judge Danya Kareth Meyer of the Tel Aviv District Court has rejected the request for a NIS 720 million class action against Yitzhak Tshuva and Delek Group.

Judge Danya Kareth Meyer of the Tel Aviv District Court has rejected the request for a NIS 720 million class action against Yitzhak Tshuva and Delek Group.

 

The request for the class action, filed by attorney Renan Gersht, was rejected by Judge Kareth Meyer based on evidence provided by Gornitzky & Co., which highlighted numerous and significant technical errors in the plaintiff's claims.

 

Tshuva and Delek Group were represented by Mr. Pinhas Rubin (Firm Chairman), Mr. Ofer Tzur (Partner, Head of Litigation), Mr. Kfir Yadgar (Partner) and Mr. Ofer Fleischer.

 

August 29th, 2012

Gornitzky & Co. represented Bank Hapoalim B.M. in the NIS 30 million financing transaction of a 3 megawatt photovoltaic power plant in Israel.

Gornitzky & Co. represented the Project Finance Department of Bank Hapoalim B.M. in a transaction valued at approximately NIS 30 million, for the financing of the design, development, construction and operation of a 3 megawatt photovoltaic power plant in Israel.

 

Bank Hapoalim B.M. was represented by Mr. Eli Elya (Partner), Ms. Editte Galli Heyne (Partner) and Ms. Arielle Ruimi.

August 2nd, 2012

Triveni Engineering & Industries, a publicly traded industrial group based in India, was recently represented by Gornitzky & Co. in their strategic investment in Aqwise, an Israeli water and wastewater treatment solutions company.

Triveni Engineering & Industries, a publicly traded industrial group based in India, with a fast growing water division focused on high-end technology projects, was represented by Gornitzky & Co. in their strategic investment in Aqwise, an Israeli water and wastewater treatment solutions company.

 

The agreement between the investor and the company calls for commercial cooperation between the two, and included two share purchases – a primary issuance from Aqwise to Triveni, as well as a secondary purchase of a portion of shares from existing shareholders.

 

The representation was led by Mr. Chaim Friedland (Partner), Mr. Yisrael Spero and Mr. Ariel Davis.

 

July 5th, 2012

The Tel Aviv District Court rejected a NIS 300 million class action against the Tel-Aviv Central Bus Station, which was represented by Gornitzky & Co., alleging violations of the Prevention of Smoking and Exposure to Smoking in Public Places Act.

The Tel Aviv District Court rejected a petition to approve a NIS 300 million class action against the Tel-Aviv Central Bus Station, which was represented by Gornitzky & Co., alleging violations of the Prevention of Smoking and Exposure to Smoking in Public Places Act.

 

Judge Magen Altuvia denied class action status to the lawsuit and accepted the claims of Nitsba Holdings 1995 Ltd. (TASE: NTBA), which owns and operates the Tel-Aviv Central Bus Station, Israel's largest land transportation terminal. The court ruled that the liability of an operator of a public facility should not be determined by the outcome, but rather by whether necessary actions were taken to prevent the violations. 

 

Nitsba Holdings was represented by Mr. Noam Ronen (Partner) and Ms. Neta Peled.

June 18th, 2012

The Tel Aviv District Court dismissed in limine a motion to approve a derivative claim against Bezeq, alleging that the company's shareholders were harmed by the distribution of approximately NIS 7 billion in dividends. Bezeq was represented by Gornitzky & Co.

Judge Ruth Ronen of the Economic Department of the Tel Aviv Jaffa District Court dismissed in limine a motion to approve a derivative claim against Bezeq the Israel Telecommunications Corp. Ltd. (TASE: BEZQ), alleging that the company's shareholders were harmed by the distribution of approximately NIS 7 billion in dividends.


Judge Ronen accepted Bezeq's arguments that the claimant should not be permitted to file such claim, as he is neither a registered shareholder of the company nor a member of its board of directors. Additionally, Bezeq argued that the distribution of the dividends had been approved by the vast majority of the shareholders, at the company's general assembly.


Bezeq was represented by Mr. Pinhas Rubin (Firm Chairman), Mr. Lior Porat (Partner) and Mr. Asaf Avtuvi.

 

June 12th, 2012

Gornitzky & Co. was chosen by Yeshiva University to host the first alumni event of its kind in Israel. The event took place on June 12th at the firm's offices in Tel Aviv.

Gornitzky & Co. was chosen by Yeshiva University to host the first alumni event of its kind in Israel. The event took place on June 12th at the firm's offices in Tel Aviv.

 

Yeshiva University is a top ranked New York university, dedicated to melding the ancient traditions of Jewish law and life with the heritage of Western civilization.

May 25th, 2012

At the annual conference hosted by the Israel Bar Association, Mr. Moriel Matalon participated in a panel discussion regarding the growing numbers of attorneys in Israel, following the passing of a directive that removes barriers which prevented foreign lawyers from working in Israel.

At the annual conference hosted by the Israel Bar Association, Mr. Moriel Matalon participated in a panel discussion regarding the growing numbers of attorneys in Israel, following the passing of a directive that removes barriers which prevented foreign lawyers from working in Israel, and permits collaboration between Israeli and foreign law firms. 

 

The Israeli newspaper, Globes, quoted Mr. Matalon predicting a bright future for the larger law firms, such as Gornitzky, as the "dramatic polarization" between large Israeli law firms and smaller ones continues to grow in the coming years. "The process in the next ten years will continue to be one of dramatic polarization, whereby small law firms will have a hard time surviving and very low profit margins, and on the other hand, large law firms will just continue to grow."

 

May 2nd, 2012

Gornitzky & Co. represented Profimex Ltd. in its USD 17.5 million investment in the Hawthorne Center, a commercial complex in Cincinnati, Ohio, the majority of which is leased out to Coca-Cola Refreshment USA, Inc.

Gornitzky & Co. represented Profimex Ltd. in its USD 17.5 million investment in the Hawthorne Center, a commercial complex in Cincinnati, Ohio. The property serves, inter alia, as the regional marketing center of Coca Cola Refreshment USA, Inc.

 

Profimex Ltd. is a global real estate and renewable energy investment firm that serves as a premier provider of global real estate investment opportunities for High Net Worth Individuals and institutional investors, and organizes joint investment schemes with foreign investors in each local jurisdiction.

 

Profimex Ltd. is represented by Daniel Paserman (Partner), Dr. Zvi Gabbay (Partner), Yisrael Spero and Guy Avner.

April 30th, 2012

Gornitzky represented Kadimastem Ltd. in their successful negotiations with Merck Serono S.A. for the entry into a long-term collaboration between the companies in drug discovery and screening to discover new drugs for the treatment of Multiple Sclerosis.

Gornitzky represented Kadimastem Ltd. in their successful negotiations with Merck Serono S.A. for the entry into a long-term collaboration between the companies in drug discovery and screening to discover new drugs for the treatment of the neurological disease Multiple Sclerosis. As part of the joint project between the two companies, Kadimastem's innovative and breakthrough platform, using human stem cells-derived functional tissues, will be applied to test potential new drugs for the treatment of the neurological disease.

 

Kadimastem is an Israeli biotechnology company focused on the industrial development and commercialization of human pluripotent stem cell-based products for the pharmaceutical and/or medical treatment of diabetes, neurodegenerative diseases and other indications.

 

Mr. Yoram Arad (Partner) and Mr. Idan Baki (Partner) led the representation.

April 19th, 2012

The Tel Aviv District Court denied a motion to authorize a class action suit against 4 major Israeli banks.

Deputy Chief Justice of the Tel Aviv District Court, Dr. Drora Pilpel, denied a petition for a class action suit against Bank Hapoalim (Israel's largest bank), Bank Otsar Hahayal, Bank Discount and Bank Leumi. The plaintiffs claimed that the banks had mislead their clients and breached their banking duties by collecting fees for the exercise of options on the Tel Aviv 25 Index, which they had allegedly not informed their clients of. Hon. Judge Pilpel ruled that the banks had fulfilled their obligations and gave full disclosure of the exercise fees.


Bank Hapoalim and Bank Otsar Hahayal were represented by Mr. Pinhas Rubin (Firm Chairman) and Mr. Noam Ronen (Partner).

March 26th, 2012

The courts ruled in support of Ofroni Holdings, winner of a tender offering for the purchase of land in Rishon L'Tzion.

After winning a tender offer by a court-appointed receiver for the purchase of land "as is" in Rishon L'Tzion, Ofroni Holdings discovered several previously undisclosed disputes between the owners and the Rishon L'Tzion planning authorities. In a motion to void the tender, the Rishon L'Tzion Magistrate's Court gave an unprecedented ruling in support of arguments made by Adv. Noam Ronen of Gornitzky on Ofroni's behalf, placing the burden of active disclosure of crucial information on the sellers.

 

Ofroni Holdings was represented by Mr. Noam Ronen (Partner).

February 1st, 2012

"Administrative Enforcement of Israeli Securities Laws," authored by Dr. Zvi Gabbay, is the first and only book of its kind in Israel to analyze the various administrative enforcement procedures and processes by which the Israel Securities Authority (ISA) operates and employs its enforcement powers.

"Administrative Enforcement of Israeli Securities Laws," authored by Dr. Zvi Gabbay, is the first and only book of its kind in Israel to analyze the various administrative enforcement procedures and processes by which the Israel Securities Authority (ISA) operates and employs its enforcement powers.

 

The book reviews three main administrative enforcement procedures: a procedure for casting "simple" financial sanctions; an administrative enforcement process adjudicated by an administrative tribunal, authorized to impose significant financial sanctions, to cancel permits and licenses granted by the ISA, including barring officers and directors from serving in this capacity in publicly held companies for a limited period; and an administrative process enabling regulated entities to reach agreements resolving their matters with the ISA by way of agreed-upon sanctions, without admitting or denying the allegations.

January 13th, 2012

Gornitzky & Co. represented Shikun & Binui Ltd. before the Israel's Supreme Court, appealing the rejection of their petition against the win of Shapir Engineering in the tender for the construction and operation of the new NIS 10 billion IDF training camps.

One week before the final announcement of the winning bidder in the tender for the construction and operation of a new IDF training camps, worth approximately NIS 10 billion, Mahanegev, a company owned by Shikun & Binui Ltd., submitted an appeal to Israel's Supreme Court. The company appealed the win of Shapir Engineering (2001) Ltd. in the tender. Gornitzky & Co. represented Shikun & Binui in the appeal and in the filing of an urgent application for an emergency hearing.

 

Mr. Ofer Tzur (Partner, Head of Litigation), Mr. Eli Cohen (Partner) and Mr. Itzchak Lazar lead the representation.

November 1st, 2011

Gornitzky & Co. welcomed Mr. Avner Finkelshtein, formerly of the Israel Antitrust Authority, to join the firm's Antitrust & Competition practice.

Gornitzky & Co. welcomed Mr. Avner Finkelshtein, formerly of the Israel Antitrust Authority, to join the firm's Antitrust & Competition practice.

 

Prior to joining Gornitzky & Co. and over the course of ten years, Avner served in a variety of positions at the Israel Antitrust Authority, most recently as Deputy Director and legal counsel of the Investigations Department. In serving in these positions, Avner was responsible for many cartel investigations conducted by the IAA over the past decade, and represented the IAA's general director before the District Court of Jerusalem and the Competition Tribunal on several leading cases, including criminal cartels and merger cases.

October 9th, 2011

Gornitzky & Co. represented Melisron Ltd. (TASE: MLSR), of the Ofer Brothers group, in a NIS 529 million issuance of debentures.

Gornitzky & Co. represented Melisron Ltd. (TASE: MLSR), of the Ofer Brothers group, in raising NIS 529 million (approximately USD 150 million) through debentures secured by shares of British-Israel Investments Ltd.

 

In April 2011, Gornitzky represented Melisron in purchasing 70% of the capital stock of British-Israel for approximately NIS 1.7 billion. Melisron-British is now the largest group in the Israeli shopping malls industry, managing approximately 20 shopping malls across Israel.

 

Mr. Itay Geffen (Partner) and Mr. Guy Keren led the representation.

September 26th, 2011

Gornitzky & Co. represented Delek Real Estate Ltd.'s controlling shareholder, Mr. Yitzhak Tshuva, in signing an agreement with the company's bondholders, delaying the payments of several series of debentures.

In negotiations between the representatives of several of Delek Real Estate Ltd.'s bondholders and the company's controlling shareholder, Mr. Yitzhak Tshuva, the parties agreed that payments to the bondholders will be delayed by several months and in return, the bondholders will receive NIS 13 million in compensation.

 

Mr. Ofer Tzur (Partner, Head of Litigation) represented Mr. Tshuva in this case.

September 20th, 2011

Gornitzky & Co. represented Bezeq Ltd. in obtaining the court's approval for a NIS 3 billion dividend, by way of capital reduction and also in recent court deliberations regarding the dividend

In March 2011, Bezeq Ltd. was authorized by the Financial Department of the District Court in Tel-Aviv (the Honorable Judge Danya Kareth Meyer) to distribute a NIS 3 billion dividend by way of capital reduction, as was recommended by its board of directors and approved by its general assembly. The approved dividend is to be paid in six payments, over a period of three years. In September 2011, the District Court ruled, inter alia, that a request to object to the dividend filed by two of Bezeq Ltd.'s bond holders a few months following the court's approval, became redundant.


Bezeq The Israel Telecommunications Co. Ltd. which is Israel's largest telecom operator, was represented by Mr. Pinhas Rubin (Firm Chairman), Mr. Lior Porat (Partner) and Mr. Asaf Avtuvi.

June 13th, 2011

In a precedential decision, Judge Yaakov Sheinman of the District Court in Petach Tikva, accepted arguments made by Gornitzky & Co. on behalf of ImageSat International and dismissed in limine the application to approve a NIS 4 billion derivative action against the company.

In a precedential decision, Judge Yaakov Sheinman of the District Court in Petach Tikva, accepted arguments made by Gornitzky & Co. on behalf of ImageSat International and dismissed in limine the application to approve a NIS 4 billion derivative action against the company.

 

The request for the in limine dismissal of the application was based on the innovative claim that a derivative action in the name of a foreign company cannot be filed in Israel under the Israeli Companies Law.

 

ImageSat International N.V., a leading provider of high-resolution, satellite earth-imagery, which launched and operates the EROS commercial satellites, was represented by Mr. Ofer Tzur (Partner, Head of Litigation) and Mr. Eli Cohen (Partner).

May 31st, 2011

Gornitzky & Co.'s Chairman, Mr. Pinhas Rubin, said that judges are expected to try and facilitate a compromise between the parties, but should not rebuke parties who refuse to compromise

Gornitzky & Co.'s Chairman, Mr. Pinhas Rubin, spoke in a panel held in the Israel Bar Association 2011 Annual Conference in Eilat regarding the judge’s role in mediating between the parties in a legal dispute, or helping them in reaching a compromise. The conference included several legal panels which dealt with a broad range of current legal issues.

 

"When I walk into the courtroom I expect the judges to try and comprise between the parties, as long as they are familiar with all the details of the case, and I am always disappointed when the judge calls for the first witness," said Mr. Pinhas Rubin. Mr. Rubin stated his belief that "the opposing party, provided he does not live by the sword and by the sword alone, also expects the judge to try and find a solution to the dispute. It does not bother me when the judge asks me to compromise, even when I am sure that my claims are just. In fact, a good compromise can be better than a good decision”.

 

However, Mr. Rubin warned that judges should beware of forcing the parties to compromise. “A forced compromise is not a compromise at all. I find it unacceptable when a judge rebukes a party that refuses to compromise, it causes antagonism."

January 19th, 2011

The Tel-Aviv District Court judgment in favor of Dr. Joshua Rosensweig, who was represented by Gornitzky & Co., referred to the firm as a highly respected firm with a reputation separate from its partners.

Gornitzky & Co. represented Adv. Dr. Joshua Rosensweig (a former senior partner at Gornitzky and one of Israel's foremost businessmen) in a lawsuit in which Adv. Avi Gera claimed that Dr. Rosensweig allegedly prevented Adv. Gera from his share in their dissolved joint firm's alleged reputation. Adv. Gera estimated his share of the firm's reputation at NIS 9 million when filing the lawsuit in 2004.

 

Throughout the legal proceedings, which lasted nearly 7 years, prominent Israeli businessmen testified on behalf of Dr. Rosensweig, including Mr. Tzadik Bino, Mr. Israel (Izzy) Tapuchi, Mr. Benjamin Jesselson, Mr. Yair Hamburger and C.P.A. Aharon Zohar.

 

The Tel-Aviv District Court (Honorable Judge Ruth Ronen) ruled in favor of Dr. Rosensweig, stating that the dissolved firm had no reputation separate from that of its partners. In her judgment, Judge Ronen wrote that only in rare cases does a law firm have a reputation separate from the identity of its partners, and referred specifically to Gornitzky & Co. as an example of a highly respected firm with a reputation independent from its partners

 

The team handling the representation included Pinhas Rubin (Firm Chairman), Noam Ronen (Partner) and Ofer Fleischer.

January 12th, 2011

Policity Ltd, represented by Gornitzky & Co., has recently been named preferred bidder in a tender for the design, finance, construction, operation and maintenance of the national training center of the Israeli Police, estimated at NIS 1.8 billion

Gornitzky & Co. represented Policity Ltd, a single purpose company held by Shikun & Binui Ltd (TASE:SKBN) (50%) and Hashmira Ltd. (of the G4S group) (50%), in submitting its bid in the tender for the design, finance, construction, operation and maintenance of the national training center of the Israeli Police for a period of 25 years. Policity Ltd has recently been declared preferred bidder in the tender.

 

The project is to be constructed in the western industrial zone of the Israeli city of Beit Shemesh, in an area of approx. 230 dunams (approx. 57 acres) and will include different structures in an estimated scope of 42,000 meters of main areas and service areas in an estimated scope of 20,000 meters. The approximate scope of occupancy of the training center is 2,000 cadets on weekdays. Policity will be entitled to a construction grant, a fixed quarterly payment and additional variable payments for the different operation and maintenance services to be supplied, summing up to approximately NIS 1.8 billion.

 

The team handling the representation included Itay Geffen (Partner) and Yiftah Farber.

August 13th, 2017

Gornitzky represents Fortissimo Capital Fund in its acquisition of Tuttnauer Co. Ltd. 

Gornitzky represented Fortissimo Capital Fund in its acquisition of Tuttnauer Co. Ltd. Since 1925, Tuttnauer has been and continues to operate as a leading manufacturer and supplier of autoclaves, washers and other sterilization applications and devices.

 

Fortissimo was represented by Chaim Friedland (Partner, Corporate/M&A), Idan Baki (Partner, Finance), Avner Finkelshtein (Partner, Antitrust), together with associates Yoav Meer, Alon Peled, Nir Knoll and Coral Leshez.

July 30th, 2017

Gornitzky represents Priority in its acquisition of Monitin Information Systems' ERP operations.

Gornitzky represented Priority Software in its acquisition of the entire ERP operations of Monitin Information Systems, a long-standing ERP developer and implementor for numerous Israeli corporations.

 

Priority is a portfolio company of Fortissimo Capital, a prominent Israeli private equity fund and this is its third acquisition in recent months represented by our firm.

 

We congratulate Priority on its continued expansion in Israel and abroad.

 

Priority was represented by Sagit Amit Evan (Senior Associate), Eitan Mor (Associate), Daniel Reshef (Associate) and Ori Sheinkman (Associate).

July 26th, 2017

Gornitzky represents the Israel Football Association in a motion to approve a NIS 38.5 million derivative suit against it.

The petitioners maintain that funds which were transferred by the Football Association should be claimed via third parties.

The Football Association was represented by Kfir Yadgar (Managing Partner), Ofer Fleischer (Partner) and Lior Sharabi (Associate).

July 11th, 2017

Gornitzky represents Le Peigne in its investment in Riskified Ltd.

Gornitzky represented Le Peigne in its investment in Riskified Ltd., an Israeli startup company specializing in e-commerce fraud prevention, as part of a consortium of investors in Riskified’s USD 33 million financing round. Le Peigne is controlled by the Arnault Group, which also controls Christian Dior and LVMH Moet-Hennessy—Louis Vitton.


Le Peigne was represented by Chaim Friedland (Partner) and Yoav Meer.

July 6th, 2017

Gornitzky represents Shikun & Binui in the financial closing of a large-scale project.

Gornitzky represented Shikun & Binui Group, Israel’s leading infrastructure and real estate group, in the financial closing of a large-scale project for the construction of a photovoltaic solar power plant (MW120) in Kibbutz Zeelim, for approximately NIS 650 million. This is meant to be the largest power plant ever to be built in Israel.

 

Shikun & Binui Group was represented by Partners Itay Geffen (Head of Infrastructure) and Yiftah Farber, together with Associates Maya Dvir and Liron Koren.

June 29th, 2017

Gornitzky represents Oron Group Investments and Holdings in a NIS 100 million public offering.

Gornitzky represented the construction company Oron Group Investments & Holdings Ltd. in a NIS 100 million public offering, by expanding existing bonds series, traded on TASE. Oron was represented by Yair Shiloni (Partner) and Itamar Ben Yehuda (Associate).

June 26th, 2017

On 17 May 2017, Eli Elya, head of Gornitzky's Australia Desk, attended an exclusive dinner hosted by Solomon Lew, one of Australia's highest profile businessmen, to honor Former Australian Prime Minister, Tony Abbot, and celebrate his honorary doctorate from the Tel Aviv University.

 

The dinner included senior figures from the Israel Australia Chamber of Commerce, Tel Aviv University, prominent business figures and the Australian ambassador to Israel.

June 22nd, 2017

An Israeli chapter in the FRAPA report dealing with the protection of television formats in worldwide legal regimes.

Our firm took part in an international report incorporating 30 different countries, in the field of Media and Communications, on the matter of legal protection of television formats. The report provides a comparative review of legal options available for the protection of television formats and is a cooperation between FRAPA, a leading international organization in the area of recognition and protection of TV formats, and the global law firm, Baker McKenzie.

 

The Israeli chapter in the report was written by Lior Porat, Managing Partner and Head of Telecommunication and Media practice at our firm, together with associate Karin Shani.

 

For more information please visit the FRAPA website: https://www.frapa.org/general/formats-are-protected-by-law

June 9th, 2017

Gornitzky represents Noy Fund in its NIS 120 million purchase of Tahal Group's shares.

Gornitzky represents Noy Fund, an Israeli infrastructure and energy investment fund, in the acquisition of Tahal Group's stake in the pumped-storage hydroelectricity project in Kochav Hayarden, for approximately NIS 120 million.

 

Noy Fund was represented by Partners Itay Geffen (Head of Infrastructure), Ronit Rozenstein-Barel and Amit Levy (Associate).

June 1st, 2017

Gornitzky represents Telrad Networks Ltd. in an IPO on TASE.

Gornitzky represented Telrad Networks Ltd., a global provider of innovative telecom solutions, including wireless communication products, in a NIS 162 million IPO on TASE; the IPO was carried out through a combination of the issuance of shares by the Company, along with an offer for sale of shares by the Company's shareholders.

 

Telrad Networks was represented by Yair Shiloni (Partner), Sagit Amit Evan (Senior Associate) and Itamar Ben-Yehuda and Netalee Aviv (Associates).

May 8th, 2017

Gornitzky represents Strauss in a large scale public offering of an aggregate sum of NIS 115.9 million.

Strauss Group, the largest food and beverage company in Israel, issues approximately 1.7 million shares in a public offering for an aggregate sum of NIS 115.9 million.

 

The public offering was conducted following a private placing for institutional bodies, worth approximately NIS 144 million.
 

Strauss Group Ltd. was represented by Sharon Werker Sagy (Partner) and Shai Chen (Associate).

April 12th, 2017

Gornitzky represents the Phoenix in a temporary injunction halting the sale of Arena's major assets.

The Phoenix Insurance Company was granted a temporary injunction halting the sale of Arena Group's major assets.

 

Within the framework of an originating motion in the matter of the Phoenix's right of first refusal in the Star Center Mall in Ashdod, the Tel Aviv District Court halted a proceeding executed by Arena Group for the sale of Star Center Mall in Ashdod and Arena Mall in Nahariya. The two malls were offered for sale as a whole, with the intention of unlawfully bypassing the Phoenix's right to first refusal. On Passover eve, the court ruled that at this stage, no communication shall be conducted regarding the transfer of any rights to the land on which the Star Center Mall in Ashdod is located, and that the temporary injunction shall remain in effect until another decision is reached in the case.

 

The Phoenix Insurance Group was represented by Noam Ronen (Partner) and Daniel Barlev.

April 5th, 2017

Gornitzky represents Mobile operator Golan Telecom, which was acquired by Electra Consumer Products (ECP) for NIS 350 million.

Upon receiving all necessary regulatory approvals, the acquisition of Golan Telecom by ECP for NIS 350 million has been completed. The deal was signed at the start of January 2017, and upon completion of ECP's due diligence and receipt of all regulatory approvals, the deal was consummated with ECP acquiring control of Golan Telecom.


Golan Telecom and its shareholders were represented by Chaim Friedland (Partner, Corporate), Lior Porat (Partner, Telecoms), Avner Finkelshtein (Partner, Antitrust), together with Avi Meer, Asaf Avtuvi and Noa Schweitzer.

 

March 30th, 2017

Gornitzky represented Ofer Investment Ltd., in two financing agreements in a total sum of NIS 240 Million.

Gornitzky represents Ofer Investment, the major holdings company of the Ofer Family, in NIS 240 Million financing agreements

Gornitzky successfully represented Ofer Investment Ltd., the major holdings company controlled by the Ofer Family, in two substantial Financing Agreements with Discount Bank the Phoenix group in a total sum of NIS 240 Million.

 

Ofer Investment was represented by Kfir Yadgar (managing partner), Uri Heller (corporate and financing) and Aviv Urinowski (real-estate).

February 26th, 2017

Gornitzky represents 'Dan Group' in a complex purchase transaction to sell "Lahav Warehouse" retail, a supermarket chain held by Dan Group, to 'Freshmarket' Ltd.', for an amount exceeding NIS 90 million

Gornitzky represents 'Dan Group' in a complex purchase transaction to sell "Lahav Warehouse" retail, a supermarket chain held by Dan Group, to 'Freshmarket' Ltd.', for an amount exceeding NIS 90 million. As part of the transaction, our legal team dealt with various legal aspects regarding M&A, Antitrust, Corporate, etc. Moreover, as part of the transaction's condition precedents, the parties were obligated to receive the Israeli Antitrust Commissioner's approval for the acquisition, as well as to receive the consent of the lessors of the properties on which Lahav Warehouse supermarkets operated, in order to assign the relevant leases to Freshmarket Ltd.

 

Dan Group was represented by Kfir Yadgar (partner), Yiftah Farber (partner) and Maya Dvir.

February 5th, 2017

Gornitzky firm represents Melisron Ltd. in a joint transaction with AFI Group of Sarona compound in a purchasing deal worth hundreds of millions, after winning Israel's Land Authority's auction

Gornitzky firm represents Melisron Ltd. in a joint transaction with AFI Group of Sarona compound in a purchasing deal worth hundreds of millions, after winning Israel's Land Authority's auction

The acquired land plot which is located south of the military offices in Tel Aviv is suitable for commerce and/or offices.The land plot is about 13,000 square meters, which is the largest plot in the Sarona compound in Tel Aviv, located on the corner of "Ha'arbaa" and "Leonardo de vinci" streets.

As part of the joint transaction, the counter parties have arranged all of the construction details, development, building methods,management, operation, marketing and leasing of the project that will be built by both companies.

 

Melisron was represented by Shlomo Cohen (Partner) and Maya Hoftman

January 29th, 2017

Gornitzky represents Mr. Kobi Tribitch and his partners, in a long-term lease agreement of space in the Meier on Rothschild, thereby opening the "Rothschild-Allenby Culinary Market" for gourmet food

Gornitzky represents Mr. Kobi Tribitch, former owner of the Tiv-Taam supermarket chain (TASE: TTAM), and his partners, (including former Ikea Israel CEO, Mr. Shlomo Gabay and Eric Abramovich, owner of Masterfood Inc, in a long-term lease agreement of space in Tel Aviv's most luxurious skyscraper, the Meier on Rothschild, opening the "Rothschild-Allenby Culinary Market", with over 40 stalls, designed similarly to the Boqueria Market in Barcelona, Spain, and Eataly on Manhattan's 5th Avenue.

Our firm is also responsible for handling all matters related to the sublease of retail space to third-party vendors that will operate restaurants, food stands and shops within the market.

The developers are represented by Kfir Yadgar (Partner), Lee Cohen, Dana Suidman and Shiri Nass Magid

January 19th, 2017

Gornitzky represented the sole investor in a USD 2 million venture investment in a healthcare startup.

Gornitzky represented the sole investor in a USD 2 million venture investment in a healthcare startup.

 

The investor was represented by Ori Yitzhak (Partner) and Avi Meer.

 

January 16th, 2017

Gornitzky represented Melisron Ltd., the leading real estate company in the field of shopping malls and commercial centers, in a NIS 940 million issuance of public bonds

Gornitzky represented Melisron Ltd., the leading real estate company in the field of shopping malls and commercial centers, in a NIS 940 million issuance of public bonds. Melisron issued one new series of bonds, which is secured by a real-estate asset, and two existing series was expanded.

 

Melisron Ltd was represented by Sharon Werker-Sagy (Partner), Itay Itzkovich (Partner) Uri Heller, Inbal Zackay-Horev, Shahar Oshri and Shai Chen.

 

January 1st, 2017

Gornitzky's Dispute Resolution team successfully represented Bezeq the Israel Telecommunication Corp. Ltd. before the Supreme Court, receiving an unprecedented ruling in Corporate Law 

Gornitzky's Dispute Resolution team successfully represented Bezeq the Israel Telecommunication Corp. Ltd. before the Israeli Supreme Court, resulting in an exceptional ruling in favour of Bezeq, dismissing two appeals over the decision of the honourable Judge Kaboub at the Tel Aviv District Court which denied two motions to approve a derivative suit.
Among others, the ruling unprecedentedly asserts the absorption of the Delawarean Business Judgment Rule within the Israeli Corporate law.

 

Bezeq was represented by Pinhas Rubin (firm chairman), Lior Porat (partner), Asaf Avtuvi and Ehud Katzenelson

December 19th, 2016

Gornitzky represents Sabon Shel Pa’am and its Shareholders in the Sale by its shareholders of approximately 70% of the shareholding of Sabon to Yves Rocher Group

Gornitzky represented Sabon Shel Pa’am (“Sabon”) and its Shareholders in the sale by its shareholders of approximately 70% of the shareholding of Sabon to Yves Rocher Group. Sabon is a leading producer and retailer of cosmetic, body care, home style and ambience products sold in concept stores around the world. Yves Rocher is a worldwide cosmetics and beauty brand, based in La Gacilly, France. Yves Rocher is present in 88 countries on five continents

As part of the transaction, the selling shareholders will continue to hold a significant position in the global company and shall take an active role in the management of the company for the next several years, after which they shall have an exit right. In addition to negotiating the sale agreement, we were required to negotiate a shareholders agreement between Yves Rocher and the selling shareholders for the relationship between the parties and the management of the companies.

For further reading in the Marker (Hebrew)

Sabon Shel Pa’am (“Sabon”) and its Shareholders is represented by Chaim Friedland (partner), Yehonatan Raff, Yoav Meer, Sam Berkowitz, Danielle Skald (tax) and Bar Sarafian (labour)

December 12th, 2016

Gornitzky represented the underwriters, led by Jefferies and Cowen and Company, in the USD 86 million follow-on offering of NeuroDerm Ltd. on the NASDAQ Global Market

Gornitzky represented the underwriters, led by Jefferies and Cowen and Company, in the USD 86 million follow-on offering of NeuroDerm Ltd. on the NASDAQ Global Market. NeuroDerm Ltd. is a clinical stage pharmaceutical company developing treatments for central nervous system (CNS) disorders.

Jefferies and Cowen and Company acted as joint book-running managers for the offering. Raymond James & Associates and Roth Capital Partners acted as co-managers for the offering.

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Nir Knoll.

December 5th, 2016

Gornitzky represents Golan Telecom in its appeal to the Antirust Court regarding the Antirust Commissioner's decision to oppose the merger transaction between Golan Telecom and Cellcom Israel

Gornitzky represents Golan Telecom in its appeal to the Antirust Court regarding the  Antirust Commissioner's decision to oppose the merger transaction between Golan Telecom and Cellcom Israel.


Read full story in Globes (Hebrew)

 

Golan Telecom is represented by Avner Finkelshtein (partner) and Noa Schweitzer Amar

November 30th, 2016

Gornitzky represented Menora Mivtachim Insurance in connection with two institutional bodies in a deferred liabilities deed, in the amount of NIS 100 million

Gornitzky represented Menora Mivtachim Insurance Ltd. in connection with two institutional bodies – third parties that are not connected to the Menora group - in a deferred liabilities deed, according to which Menora will be granted an amount of NIS 100 million, in return for recognition as complex secondary capital of Menora Insurance, in accordance with the confirmation of the Director of Capital Market, Insurance and Savings Department.


Menora Mivtachim Insurance Ltd. was represented by Sharon Werker Sagy (Partner).

November 29th, 2016

Gornitzky represented Audio Pixels Holdings Ltd. and additional parties involved, in a successful dismissal of a motion to approve a derivative suit against them, in the amount of NIS 500 million

Gornitzky successfully represented Audio Pixels Holdings Ltd. (an Australian public company) as well as its Israeli subsidiary, Audio Pixels, officers of the company and additional parties involved, in the dismissal of a motion to approve a derivative suit against them, in the amount of NIS 500 million.

 

Lod District Court (the honorable Judge Dr. Borenstein) dismissed the motion to file a derivative suit against Audio Pixels, in the amount of approximately NIS 500 million, in relation to the claim of alleged technology theft, concerning unique developments in the audio field.

 

The technology to which the motion refers to is in fact a unique technology for the manufacturing of speakers, developed by Audio Pixels, based on micro electromagnetic structures (MEMS) and not on the customary classic speaker components in today's industry, which is expected to provide unprecedented performance in the field of audio. Several months ago, Audio Pixels reported a cooperation agreement for the production of chips together with the Israeli company TowerJazz. Recently, the company also proceeded to report to its investors its progress in the developmental stages, along with the unique cooperation with Bar Ilan University, in a project aimed at assisting the blind in sight analysis via the use of part of the technology it is developing.


At the beginning of 2013, Amir Baron, a software engineer, filed a request for the approval of a derivative suit against Audio Pixels Holdings Limited, its Israeli subsidiary, Audio Pixels, and several other executive officers at Audio Pixels along with other individuals involved.
Within the framework of the motion to approve a derivative suit, filed in the amount of about NIS 500 million, it was claimed that the intellectual property used by Audio Pixels belongs in fact to an Israeli Start-up company called B-4 (no longer active today, in which Baron worked together with the respondents) and that one of the respondents, who left B-4 in 2006, took the technology with him and used it, together with other respondents, in order to establish Audio Pixels, and in practice, the technology used by Audio Pixels today is B-4's intellectual property.


In a lengthy and detailed ruling, the court dismissed the motion to approve a derivative suit .
Furthermore, the court determined that taking into account that B-4 is at the end of the road and that the purpose of the suit is to serve the personal interests of the share -holders, it cannot be determined that the purpose of the suit is indeed in favor of the company. Furthermore, the court ruled that the petitioner's good-faith should be questioned.


Due to these reasons, the court decided to dismiss the motion to file a derivative suit and to impose the expenses on the petitioner.

 

The Audio Pixels group, its subsidiaries and other parties involved were represented by Eli Cohen (Partner), Or Lustgarten and Yaad Gordon.

November 15th, 2016

Gornitzky & Co. is proud of Mr. Pinhas Rubin, Chairman of the firm, who was ranked 35th in TheMarker Magazine's list of top 100 most influential people

Gornitzky & Co. is proud of Mr. Pinhas Rubin, Chairman of the firm, who was ranked 35th in TheMarker Magazine's list of top 100 most influential people: "Rubin, 67, head of Gornitzky& Co., is considered an expert of tax and commercial law, but also prides himself on his multi-disciplinary approach and expertise in numerous legal fields. He advises families, individuals and large companies in the Israeli market". See the full article: http://www.themarker.com/st/c/prod/tm/2016/influ/3/#

October 13th, 2016

Partners Daniel Paserman (CPA), Erez Harel and Shlomo Aviad Zider in an article in The Marker about the importance of early preparations amongst companies for an audit of the tax authorities.

Partners Daniel Paserman (CPA), Erez Harel and Shlomo Aviad Zider in an article in The Marker in which they stressed the importance of early preparations amongst companies and their employees for an audit of the tax authorities.

 

See full story in The Marker

October 5th, 2016

Gornitzky represented Melisron Ltd., the Israel’s leading real estate company in the field of shopping malls and commercial centers, in a NIS 152 million issuance of public commercial securities.

Gornitzky represented Melisron Ltd., the Israel’s leading real estate company in the field of shopping malls and commercial centers, in a NIS 152 million issuance of public commercial securities.

 

Melisron Ltd. was represented by Sharon Werker Sagy (Partner), Uri Heller and Shai Chen.

September 22nd, 2016

Gornitzky successfully represented Shikun & Binui Ltd. in an exchange tender offer swapping a short-term debt with a long-term debt totalling approximately NIS 880 million. 

Gornitzky successfully represented Shikun & Binui Ltd. in an exchange tender offer swapping short-term debt with a long-term debt totalling approximately NIS 880 million. The exchange offer involved replacing series of bonds traded at the stock exchange with another series of bonds traded at the Exchange as per the shelf prospectus report.

 

Shikun & Binui Ltd. was represented by Sharon Werker Sagy (Partner) and Shai Chen

August 30th, 2016

Gornitzky represents SeaSpine in an agreement to acquire the assets of NTL Spine, an expandable interbody platform technologies company. In the acquisition, most of NTL Spine’s assets will be transferred to SeaSpine

Gornitzky together with DLA Piper represented SeaSpine in an agreement to acquire the assets of NTL Spine, an expandable interbody platform technologies company.

In the acquisition, most of NTL Spine’s assets will be transferred to SeaSpine. NLT Spine will receive an initial payment of USD 1 million and further payments in stock conditional upon meeting milestones, and altogether, stands to receive USD 5 million in milestone payments and up to USD 43 million in royalties. NTL Spine was founded by Dr. Tzony Siegal in 2006. It is a graduate of the Incentive incubator in Ariel, and among its later investors are Accelmed and Peregrine Ventures. NLT president and CEO Didier Toubia said that the company sees SeaSpine as the ideal partner to lead NTL’s innovative solutions in the market.

 

See full story in Globes

 

SeaSpine was represented by Chaim Friedland (partner). Yoni Raff, Avi Meer and Daniel Skald

August 29th, 2016

Timor Belan (partner) and associate Assaf Harel in an interview for “Times of Israel” regarding Israel’s legal framework for protecting personal data and the need for local improvements in the field.

Timor Belan (partner) and associate Assaf Harel in an interview for “Times of Israel” regarding Israel’s legal framework for protecting personal data and the need for local improvements in the field.

Read article


August 22nd, 2016

Gornitzky represents the Delek Group in the NIS 1.95 billion sale of their controlling stake in The Phoenix Holdings Ltd. to Fujian Yango Group Co.

Gornitzky represents the Israeli conglomerate Delek Group (DLEKG:TASE) in the NIS 1.95 billion sale of their controlling stake in The Phoenix Holdings Ltd. (PHOE1:TASE), the holding company of one of Israel's largest insurance companies and one of the country's largest investment houses (Excellence), to Fujian Yango Group Co., Ltd., the largest privately-owned conglomerate in mainland China.
This deal is the first major sale since the Committee on Increasing Competitiveness in the Israeli Economy resolved that control holders cannot hold both large financial and large non-financial companies simultaneously. This will also be the first time that a Chinese company purchases such a highly regulated asset in Israel. The closing of the transaction is subject to obtaining the relevant permits.

 

See full story in Reuters

 

Delek Group is represented by Pinhas Rubin (Firm Chairman), Elite Elkon (Partner), Ori Yitzhak (Partner) and Avi Meer.

August 17th, 2016

Gornitzky represents the American car manufacturing Ford in in a multi-million dollar acquisition of SAIPS, an Israeli computer vision and machine learning company. 

Gornitzky represented the American car manufacturing Ford in connection with the acquisition of SAIPS, an Israeli computer vision and machine learning company. Ford announced the acquisition as part of its pledge to develop a commercial fully autonomous vehicle fleet by 2021.

 

See full story in Globes

 

Ford was represented by Chaim Friedland (Partner) Daniel Paserman (Partner, Tax), Yehonatan Raff, Aviad Rabinowitz, Danielle Skald (Tax) and Bar Sarafian.

July 20th, 2016

Yet another successful year and recognition of our outstanding abilities! This year, as in previous years, the esteemed ranking guide, Coface Bdi, top ranked our firm in 14 Tier 1 categories

Yet another successful year and recognition of our outstanding abilities! This year, as in previous years, the esteemed ranking guide, Coface Bdi, top ranked our firm in 14 Tier 1 categories. The leading rankings include Banking & Finance, Tax, Litigation & Dispute Resolution, Mergers & Acquisitions, Capital Markets & Securities, Infrastructure & Project Finance, Energy & Natural Resources, Corporate, Real Estate & Construction, Real Estate taxation, Class Actions & Derivative Suits, Telecoms & Media, Restructuring & Insolvency, Trusts, Estates & Wealth Management.

July 11th, 2016

Gur Y. Savir and Aviram Handel, partners at the firm and editors-in-chief of the journal “Family Capital” have dedicated the fourth volume of the journal in memory of the late partner Dafna Telgam

Gur Y. Savir and Aviram Handel, partners at the firm and editors-in-chief of the journal “Family Capital” have dedicated the fourth volume of the journal in memory of the late attorney Dafna Telgam. Dafna was a partner in the firm, granddaughter of the late attorney Israel Gornitzky, founder of the firm, and daughter of the late Yeruham Gornitzky, who was the chairman of the firm for many years.

 

The law journal “Family Capital” publishes articles relating to the economic aspects of private law matters including inheritance and succession, marital property, trusts and trustees, wills and associated taxation matters. Both Savir and Handel are experts in the field. The Journal includes inter alia articles written by judges, leading academics and senior lawyers.

 

Daphna Talgam

 

June 29th, 2016

Gornitzky represents the Tel Aviv Stock Exchange in a successful dismissal of a NIS 200  million class action in the matter of "Mannkind" 

Gornitzky represented the Tel Aviv Stock Exchange in a successful dismissal of a NIS 200 million high-profile class action suit with respect to the "Mannkind" stock - a bio-med company that registered its shares in the Israeli Stock Exchange.

 

See full story in Calcalist (Hebrew)


The Tel Aviv Stock Exchange was represented by Pinhas Rubin (Firm Chairman), Harel Shaham (Partner) and Lior Sharabi.

June 8th, 2016

Gornitzky successfully represented the directors of  Zmicha Investment House Ltd. In the dismissal of a motion to approve a derivative suit, targeting the company's unsuccessful investment.

Gornitzky successfully represented the directors of Zmicha Investment House Ltd., a TASE publicly traded company, in a motion to approve a derivative suit against the directors. The motion addressed allegations that the respondents (the directors) had unlawfully approved Zmicha's investment in Shemen Oil and Gas Resources Inc., in which Zmicha's controlling stockholder allegedly had a significant business interest. The motion also contended that the directors breached their duties of care and loyalty by approving this transaction in a negligent manner.

 

The Economic Department in the Tel-Aviv District Court (Honorable Judge Ruth Ronen), in a profound and well established decision, rejected the motion, ruling that Zmicha's investment in Shemen was neither an interested transaction nor a negligent one. The court ruling presents a comprehensive (and somewhat pioneering) analysis of the fundamental corporate governance issues that arise from the case, after which the motion was dismissed and the directors were awarded with legal fees and expenses.

 

The directors of Zmicha Investment House Ltd. were represented by Noam Ronen (Partner) and Noga Haruvi.

May 31st, 2016

Gornitzky & Co represented the Israel Corporation Ltd. (TASE: ILCO) , the largest shareholder in Israel Chemicals Ltd., in two bond issuances of amounting to 1.4 billion NIS.

During the month of May 2016 Gornitzky & Co represented the Israel Corporation Ltd., the largest shareholder in Israel Chemicals Ltd., in two bond issuances amounting to 1.4 billion NIS.

 

The representation included: (a) advising and representing the company before the Securities Authority and the Tel Aviv Stock Exchange Ltd. in order to publish a shelf prospectus, (b) advising and representing the company before the Trustee for bond holders and the Tel Aviv Stock Exchange Ltd., and (c) negotiating with institutional investors, for the completion of the issuance of two series of bonds (one linked to the dollar and another unlinked in shekels) totalling 1.4 Billion shekels, by way of a public offering under the mentioned prospectus.

 

The Israel Corporation Ltd was represented by Yair Shiloni (Partner) and Itamar Ben-Yehuda.

May 23rd, 2016

Gornitzky represented Melisron Ltd in a substitution proceedings of public bonds of its subsidiary, British Israel, with new public bonds of Melisron in a value of NIS 1.85 Billion. 

Gornitzky represented Melisron Ltd., the leading real estate company in the field of shopping malls and commercial centers, in a substitution proceedings of two publicly traded series of bonds issued by Melisron's subsidiary, British Israel, with two new series of publicly traded of Melisron’s in a value of NIS 1.85 Billion. The substitution of the bonds is executed by way of a motion to the Tel Aviv District Court in accorfance with section 350 of the Companies Law, pursuant to which British Israel shall cease to be a "Reporting Entity" in accordace with the Securities Law.


Melisron Ltd was represented by Sharon Werker-Sagy (Partner), Inbal Zackay-Horev, Uri HellerMichael Goffer (Capital Markets) and Noam Ronen (Partner, Litigation).

 

May 1st, 2016

Gornitzky represented Melisron Ltd., the leading real estate company in the field of shopping malls and commercial centers, in a NIS 1.2 billion issuance of public bonds. 

Gornitzky represented Melisron Ltd., the leading real estate company in the field of shopping malls and commercial centers, in a NIS 1.2 billion issuance of public bonds. Melisron issued two new series of bonds, one of them is secured by a real-estate asset, and one existing series was expanded.

 

Melisron Ltd was represented by Sharon Werker-Sagy (Partner), Inbal Zackay-Horev, Uri Heller, Maya Dvir, Michael Goffer (Capital Markets) and Itay Itzkovich (Partner) and Lior Grinblat (Real Estate).

April 12th, 2016

Gornitzky represented Y.T.Y. Lenny Investments Ltd in a venture capital investment in Guardian Optical Technologies Ltd which is developing an 3D sensor for vehicles  

Gornitzky represented Y.T.Y Lenny Investments Ltd. in a venture capital investment in Guardian Optical Technologies Ltd. Guardian Optical Technologies is an innovative Israeli startup developing an advanced 3D sensor that makes cars safer and enables them to distinguish between still objects and human beings thanks to the presence of a beating heart. This sensor will prevent drivers from forgetting infants in the car as well as serve as a sensor for seat belts, the airbag system, monitoring driving, movement recognition, driver recognition, black boxes and many other applications. This 3D sensor is expected to prevent car accidents and save lives.

 

Y.T.Y Lenny Investments Ltd. and its affiliates were represented by Timor Belan (Partner) and Avi Meer.

 

April 6th, 2016

Gornitzky will be sponsoring and presenting at a luncheon of the Israel-Australia Chamber of Commerce to welcome an Australian trade delegation, Premier of NSW on 7 April 2016. 

Gornitzky will be sponsoring and presenting at a luncheon of the Israel-Australia Chamber of Commerce to welcome an Australian trade delegation headed by the Hon. Mr. Mike Baird, Premier of NSW on 7 April 2016. The delegation represents the first ever visit to Israel by the Premier of NSW to Israel, underscoring the growing ties between Israel and Australia. The event will be attended by senior Australian and Israel business, banking and industry representatives. The event will be covered by both Australian and Israeli media outlets.

March 31st, 2016

Gornitzky represents the founders of DuCool Ltd. in a dispute amongst company share-holders against the controlling shareholder in the company 

Gornitzky represented the founders of DuCool Ltd. (a company that specializes in the manufacturing of advanced air-conditioning systems, which are exported to international markets including the U.S., China and India), in a dispute amongst company share-holders against the controlling shareholder in the company, the American hedge fund, Matlin Patterson Global Advisors, LLC. its Directors.

Within the framework of these proceedings, two motions were filed by the founders of the company for the approval of two derivative actions at the District Court in Tel Aviv (Financial Department), as well as three actions at the Regional Labor Court.

In March 2016, Haifa District Court acceded the motion to suspend proceedings and appoint a trustee, as requested by the company (ex parte), a motion which was filed, according to the founders, for the purpose of dismissing proceedings which were initiated by the founders, represented by Gornitzky & Co., against the American Fund.

In an expedited process, within a number of days, the office team strived to suspend proceedings. In an unconventional ruling by the Haifa District Court, the court ordered the cancellation of the injunction to suspend proceedings, together with the annulment of a trustee, and respectively the ongoing proceedings conducted by the group of founder were restored.

 

The Company's founders were represented by Adv. Eli Cohen (Partner), Adv. Michael Ayalon (Partner), Adv. Cobi Marcus and Adv. Yaad Gordon.

March 22nd, 2016

 Adv. (C.P.A) Daniel Paserman (Partner) lectured at a conference at the ILP. The subject is Private Philanthropy in Israel- Obstructions and Opportunities.

Adv. (C.P.A) Daniel Paserman (Partner), Head of the firm's tax and funds practice, lectured at a conference at the Institute for Law and Philanthropy (ILP) at Tel Aviv University's Faculty of Law. The subject of the lecture was Private Philanthropy in Israel- Obstructions and Opportunities. Also attended the conference Prof. Joseph Klafter (President of Tel Aviv University), Prof. Ron Harris (Dean of the Faculty of Law, Mrs. Dafna Meitar-Nechmad (President of the Zvi and Ofra Meitar Family Fund), Prof. David Hahn (Administrator General and Official Receiver), Prof. Yoram Margalioth (Director of the Institute for Law and Philanthropy), Adv. Galia Feimer, Mr. Noam Lautman and Mrs. Noa Krauss-Lahav.

 

Click here for a copy of the presentation (Hebrew)

March 15th, 2016

Adv. Yaron Elhawi (partner), SDS liquidator, filed a motion to order the controlling shareholder and board members of SDS to bear the Company's debt in the sum of 72 Million NIS 

The liquidators of SDS, Adv. Yaron Elhawi (partner) and Amir Palmer, represented by Adv. Harel Shaham (partner) and Shani Weiss from Gornitzky & Co., filed a motion to order the controlling shareholder and board members of SDS to bear the Company’s debts to its creditors in the amount of over NIS 72 million. Such debt, arose , among other things, due to the distribution of a dividend in the amount of NIS 27 million, that was made to serve the urgent liquidity needs of the controlling shareholder, in violation of the duty of care of the Company’s directors and despite the existence of reasonable doubt as to the Company's solvency, and due to  amateurish and adventurous investments of tens of millions of shekels in product development and purchasing activities devoid of even elementary business logic and lacking even the most basic inquiries of the Company’s directors,who failed to take action and demonstrated complete passivity to the Company’s cash flow limitations. 

March 2nd, 2016

Gornitzky represents Osem Investments Ltd. (a part of the Nestle group) in a successful dismissal of a consumer class action suit with respect to alleged mislabeling of food products.

Gornitzky represented Osem Investments Ltd. (TASE: OSEM, a part of the Nestle group) in a successful dismissal of a consumer class action suit with respect to alleged mislabeling of food products and alleged misleading of consumers in certain provisions of regulation instruction no.1145 (labeling of packaged food), with regard to marking products using outer wrapping that hid part of the list of ingredients.

 

Osem Investments Ltd. was represented by Adv. Noam Ronen (Partner) and Adv. Nimrod Saville

March 1st, 2016

Adv. Itay Geffen (Partner) wrote a letter to acting Minister of Economy, Prime Minister Benjamin Netanyahu and Minister of Finance, Mr. Moshe Kahlon, regarding  their decision to reduce the cost of cement

In his letter to acting Minister of Economy, Prime Minister Benjamin Netanyahu and Minister of Finance, Mr. Moshe Kahlon, Adv. Itay Geffen (Partner), indicated, among others, that their decision to reduce the cost of cement will significantly harm competition, maintain Nesher's status as a monopoly in the cement market and may even result in employee layoffs.

 

See full story (Hebrew)

February 17th, 2016

Gornitzky represented Shanghai GEOC Hengtong Investment Limited Partnership, in a USD 8 million investment round in Kaymera Technologies Ltd.

Gornitzky represented Shanghai GEOC Hengtong Investment Limited Partnership, a Chinese investment fund, and its affiliate, Fortune China Limited, in a USD 8 million investment round in Kaymera Technologies Ltd. in which they were the leading investors.

Kaymera Technologies Ltd. provides a comprehensive mobile enterprise security solution that defends against all mobile threat and attack vectors.

 

Shanghai GEOC Hengtong Investment Limited Partnership and Fortune China Limited were represented by Timor Belan (Partner), Avi Meer and Bar Sarafian (Labor).

February 8th, 2016

Gornitzky represents SH.I.R. SHLOMO REAL ESTATE LTD in its issuance of public bonds

Gornitzky represented SH.I.R. SHLOMO REAL ESTATE LTD of the Shmeltzer Group in its issuance of public bonds, in which SH.I.R. SHLOMO REAL ESTATE LTD raised NIS 100 million, by way of issuing a new series of bonds.

 

SH.I.R. SHLOMO REAL ESTATE LTD was represented by Sharon Werker-Sagy (partner) and Maya Dvir

January 4th, 2016

Gornitzky represents Altshuler Shaham Investment House in an up to NIS 90 million credit facility to "Nethaniel Group". The funds will be used, inter alia, to the construction of an office and commercial complex, located in the city of Holon, Israel.

The Loan Agreement includes a one year credit line; in an aggregate sum of NIS 45 million starting 2016 and a long term loan agreement will replace it subject to the fulfillment of several conditions precedent. The total credit facility that will be provided by Altshuler Shaham will be up to 90 million NIS.

The construction is expected to be completed by the end of 2016, and the estimated annual revenue is expected to reach NIS 10 million.

 

See full story (Hebrew)

 

Altshuler Shaham were represented by Itay Geffen (Partner), Lior Relevy (Partner), Lee Cohen and Hagar Peleg

December 23rd, 2015

Gornitzky successfully represented A.S. Uri investments & assets (2000) Ltd., a subsidiary of Vitania Ltd., in a NIS 7 Million claim against the company filed by Adv. Yehuda Zehavi, which was revoked by the Tel Aviv District Court.

Gornitzky successfully represented A.S. Uri investments & assets (2000) Ltd., a subsidiary of Vitania Ltd., in a NIS 7 Million claim against the company and Gad Proper, a Vitania Ltd. Shareholder, filed by Adv. Yehuda Zehavi. The claim of the plaintiff, Adv. Zahavi, is that Vitania made a verbal commitment to him that he would be the lawyer handling the enforcement of Vitania's rights in the assisted accommodation project, “Until 120”, and “Vitania Tower”, office building in Ramat Hachayal, Tel-Aviv. Vitania Ltd. denied such commitment was ever made to Adv. Zehavi and claimed he was paid fully for all legal services provided with connection to the Project. . The Tel Aviv District Court rejected the claim and questioned the absence of a written fee agreement, while stressing the duty of lawyers to draft written agreements at all times. 

 

 

A.S. Uri investments & assets (2000) Ltd. was represented by Eli Cohen (partner), Daniel Lasry and Alex Feldsher.

 

December 6th, 2015

Gornitzky represents Fattal Group in the sale and lease back of a portfolio of 18 hotels in Germany, valued at EUR 400 million

Gornitzky successfully represented Fattal Group in a sale and lease back transaction, of a portfolio of 18 hotels located in 12 cities in Germany, valued at EUR 400 million. The purchaser and lessor is Pandox Hotels, a leading Swedish hotel owner listed on the Stockholm Exchange.

Concurrent to the sale Fattal Group has signed a long term lease agreement with regards to the hotels that were sold.

 

See full story

 

The Fattal Group wase represented by Jack Smith (partner), Ori Yitzhak (Partner) and Samuel Berkowitz

December 1st, 2015

Gornitzky is representing the founder of "Eden Teva Market", Mr. Guy Provisor, shareholder of 49% of Eden Teva Market, in a lawsuit against Alon Blue Square, Mega Retail and its senior officers (past and present) for NIS 78 Million.

 

Gornitzky is representing the founder of "Eden Teva Market", Mr. Guy Provisor, shareholder of 49% of Eden Teva Market, in a lawsuit against Alon Blue Square, Mega Retail and its senior officers (past and present) for NIS 78 Million, on the ground of misconduct that caused Provisor`s Holdings to be erased altogether.

Eden Teva Market is Israel’s largest chain of organic-food supermarkets.

Read the full story (hebrew)

Mr. Guy Provisor is represented by Ofer Tzur (Partner), Kfir Yadgar (Partner) and Maayan Melamed.

November 18th, 2015

Gornitzky represented the underwriters, led by Jefferies and Barclays, in Alcobra Ltd.’s USD 40 million offering of shares on the NASDAQ Global Market. 

Gornitzky represented the underwriters, led by Jefferies and Barclays, in Alcobra Ltd.’s USD 40 million offering of shares on the NASDAQ Global Market. Alcobra is an emerging pharmaceutical company primarily focused on the development and commercialization of a proprietary drug candidate, MDX, to treat cognitive disorders including Attention Deficit Hyperactivity Disorder (ADHD) and Fragile X

Syndrome (FXS).

 

Jefferies and Barclays acted as joint book-running managers for the offering. Oppenheimer, Roth Capital and Cantor Fitzgerald acted as co-managers for the offering

 

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Avi Meer.

October 28th, 2015

Gornitzky & Co. represented Barak Capital, a leading Israeli investment group, in a capital raising of approx. NIS 280 Million by way of rights issuance of perpetual bonds to its shareholders.

Gornitzky & Co. represented Barak Capital, a leading Israeli investment group, in a capital raising of approx. NIS 280 Million by way of rights issuance of perpetual bonds to its shareholders.

In addition, Gornitzky & Co. succeed to revoke an injunction filed against Barak Capital by one of its minority shareholder which seek to prevent Barak Capital from completing the capital raising. 

 

Read the full story (Hebrew)


Barak Capital was represented by Ofer Tzur (Partner), Kfir Yadgar (Partner), Uri Heller and Shani Weiss

October 21st, 2015

Gornitzky represented Lumen Capital controlled by the Weil family in its successful bid for and acquisition of the "Nesher" cement production facility in Hartuv, Israel

Gornitzky represented Lumen Capital controlled by the Weil family in its successful bid for and acquisition of the "Nesher" cement production facility in Hartuv, Israel. The sale of this facility by Nesher Israel Cement Enterprises Ltd. was carried out pursuant to the divestiture order of the Israeli Antitrust Commissioner. As a result of this transaction the cement production market has been opened to competition after a period of 67 years of being subject to a complete and exclusive monopoly held by Nesher.

The Gornitzky team was led by Partners Itay Geffen (Corporate, Infrastructure & Project Finance), Chaim Friedland (Corporate, Mergers & Acquisitions), Avner Finkelshtein (Antitrust) and associate Yael Kleinman.

September 10th, 2015

Gornitzky represents China Railway tunneling Group (CRTG) and its partner Solel Boneh, in a petition against their successful win of a NIS 2.9 Billion tender for the Tel Aviv Light Rail project

Gornitzky represented CRTG, a subsidiary of China Railway Engineering Group Ltd., the largest Chinese company specializing in underground works,  and its partner Solel Boneh in a successful dismissal of a petition filed to the Tel-Aviv District Court and to the Tender Committee in connection with their win of a NIS 2.9 Billion tunneling tender published as part of the Tel Aviv Metropolitan Area Mass-Transit System.

August 19th, 2015

Partner Aviram Handel discusses Forced Heirship legislative amendment in the EU and their effect on dual citizenship

Partner Aviram Handel discusses Forced Heirship legislative amendment in the EU and their effect on dual citizenship

July 27th, 2015

Partner Ofer Tzur discusses the Law to Promote Competition and Reduce Concentration in the Columbia Convention hosted by the Ono Academic College.

July 21st, 2015

Gornitzky represented the underwriters, led by Jefferies and Cowen and Company, in NeuroDerm's USD 77 million follow-on offering on NASDAQ

 

 

Gornitzky represented the underwriters, led by Jefferies and Cowen and Company, in the USD 77 million follow-on offering of NeuroDerm Ltd. on the NASDAQ Global Market. NeuroDerm Ltd., is a clinical stage pharmaceutical company developing drugs for central nervous system (CNS) diseases.


Jefferies and Cowen and Company acted as joint book-running managers for the offering. Raymond James & Associates and Roth Capital Partners acted as co-managers for the offering.

  

The underwriters were represented by Chaim Friedland (Partner) and Ari Fried (Partner).

 

July 20th, 2015

Gornitzky represented Amot Investment in Mega Retail's Credior Arrangement

Gornitzky represented Amot Investments (TASE: AMOT) in Mega Retail's Plan of Recovery and Creditors Arrangement.

 

Within the framework of the Arrangement, various creditors (among them Amot) had reached an Arrangement to restructure Mega's debts, which accumulated to USD 700 million. The Arrangement was approved by the Central District Court pursuant to section 350 of the Companies Law.

 

Amot is the investment arm in Israel of Alony-Hetz Properties & Investments Ltd., and is a leader in the management, leasing, maintenance, and development of income generating properties in Israel.

 

Amot was represented by Mr. Ofer Tzur (Partner), Ms. Orly Tenennbaum (Partner) and Mr. Daniel Lasry.

 

 

July 20th, 2015

Gornitzky is representing minority shareholders in Eden Teva Market lawsuit against Alon

Gornitzky is representing minority shareholders in “Eden Teva Market” (including Mr. Guy Provisor, founder and former C.E.O) in a lawsuit against Alon Blue Square (NYSE: BSI & TASE: BSI) and its subsidiary Mega Retail. Minority shareholders attribute responsibility for Eden Teva Market’s significant losses (and current suspension of proceedings) to the misconduct of controlling shareholder (Mega) and its parent company (and former controlling shareholder of Eden Teva Market) – Alon, and seek to compel Alon and Mega to purchase minority shareholders’ shares in Eden Teva Market for corresponding value of 77,000,000 NIS.

 

Eden Teva Market is Israel’s largest chain of organic-food supermarkets.

 

Minority shareholders and Mr. Provisor are represented by Ofer Tzur (Partner), Kfir Yadgar (Partner) and Maayan Melamed.

 

July 6th, 2015

Gornitzky represented Fattal Hotels Ltd. in the purchase of 63% of the partnership interests in Fattal Hotels Fund L.P. 

Gornitzky represented Fattal Hotels Ltd. in the purchase of 63% of the partnership interests in Fattal Hotels Fund L.P. Fattal Hotels Fund currently holds 18 hotels across Europe, including Germany, Belgium and Switzerland. The transaction reflects an aggregate value of €200 million to the portfolio. 

 

Fattal Hotels Ltd. were represented by Jack Smith (Partner), Kfir Yadgar (Partner), Ori Yitzhak and Samuel Berkowitz.

June 29th, 2015

Gornitzky represents a subsidiary of Menora Mivtachim Insurance Ltd in the drafting and publishing of a shelf prospectus and a following public offering of Subordinated Notes

 

 

Gornitzky represented a subsidiary of Menora Mivtachim Insurance Ltd, a leading Israeli insurance company, in the drafting and publishing of a Shelf Prospectus on the Tel - Aviv Stock Exchange, followed by a public offering of subordinated notes in an amount of approximately NIS 250 million.

 

Menora Mivtachim was represented by Sharon Werker-Sagy (partner) and Yoav More

 

 

 

June 24th, 2015

Gornitzky is representing Delek Group Ltd. in the sale of their controlling stake in Phoenix Holdings Ltd. to an affiliate of Fosun International Limited, the largest privately-owned conglomerate in Mainland China.

Gornitzky is representing Delek Group Ltd. in the sale of their controlling stake in Phoenix Holdings Ltd., which holds one of Israel's leading insurance companies (The Phoenix) and one of Israel’s largest investment houses (Excellence), to an affiliate of Fosun International Limited, the largest privately-owned conglomerate in Mainland China. This is the first time that a Chinese-owned company is purchasing a highly regulated financial institution in Israel. 

 

Delek Group is represented by Pinhas Rubin (Firm Chairman), Elite Elkon May-Tal (Partner), Ori Yitzhak, Avi Meer and Ady Abrams.

June 21st, 2015

Gornitzky represented Bank Hapoalim and Mizrahi-Tefahot Bank in the signing of a NIS 1 billion credit agreement to finance the construction of the TLV Fashion Mall in Tel Aviv

Gornitzky represented Bank Hapoalim and Mizrahi-Tefahot Bank in the signing of a NIS 1 billion credit agreement to finance the construction of the TLV Fashion Mall in Tel Aviv. This is part of the first real-estate project ever in Israel to be financed by a syndication of banks.

 

The banks are represented by Eli Elya (Partner), Tamar Cohen (Partner), Lior Baran, Aviad Rabinowitz and Moran Ben-Moshe Sabato.

June 3rd, 2015

Gornitzky is representing Elo-Nit in a lawsuit against Kadima - Zoran Local Council, in the matter of foul played bid

 

 

 

 

May 21st, 2015

Partner Moriel Matalon was granted Honorary degree "Honoris Causa" by the Israel Association Bar for excelling in his field and his broad activity with UNICEF. Read the full story: (Hebrew)

 

 

 

May 20th, 2015

Gornitzky represented China Railway Tunnel Group (CRTG) in their win of the NIS 2.9 billion tender to build the tunnels and underground stations in the western section of the Tel Aviv light rail's red line.

Gornitzky represented China Railway Tunnel Group (CRTG) in their win of the NIS 2.9 billion tender to build the tunnels and underground stations in the western section of the Tel Aviv light rail's red line, together with the Solel Boneh unit of Shikun & Binui Holdings Ltd. This tender is largest tender in the project operated by NTA Metropolitan Mass Transit System Ltd.


China Railway Tunnel Group is represented by Itay Geffen (Partner), Yiftah Farber and Amit Levy.

May 13th, 2015

Gornitzky successfully argued against the disclosure of documents on behalf of Bank Hapoalom. Read the full story:(Hebrew)

May 12th, 2015

Partner Dubi Gross was interviewed by i24 news regarding the main economic issues that dominated the recent UK elections.

April 7th, 2015

Partner Kfir Yadgar discusses Environmental & Pollution Law in Israel

Partner Kfir Yadgar discusses Environmental & Pollution Law in Israel 

 

 

 

March 30th, 2015

Gornitzky represented Melisron Ltd (TASE: MLSR), controlled by the Ofer Brothers Group, in several public Bond Offerings in an aggregate amount of approximately NIS 930 million.

Gornitzky represented Melisron Ltd (TASE: MLSR), controlled by the Ofer Brothers Group, in several public Bond Offerings in an aggregate amount of approximately NIS 930 million, by way of issuing two new Series of Bonds (one secured) and expanding two existing Series of (secured) Bonds.

 

Melisron Ltd was represented by Sharon Werker-Sagy (partner), Inbal Zakai-Horev and Yoav More

 

 

 

 

March 25th, 2015

Senior partner Pinhas Rubin participates in a round table convention in connection with governance. Read the Full story:

March 11th, 2015

Gornitzky's Jack Smith was featured in an article in Globes regarding the ramifications of the regulatory uncertainty prevailing in the gas exploration industry in Israel. read the full story (Hebrew):

February 17th, 2015

Gornitzky represented Mekorot Israel National Water Co. in the successful dismissal of a NIS 5.4 million lawsuit filed against the company in relation to reimbursement of money paid in the 1960’s and 1970's for water supply.  

Gornitzky & Co. represented Mekorot Israel National Water Co. in the successful dismissal of a NIS 5.4 million lawsuit filed against the company in relation to reimbursement of money paid in the 1960’s and 1970's  for water supply (“water rights”). The res judicata arguments made by Gornitzky, following a prior settlement in a class action suit between Mekorot’s shareholders (including the claimant), Mekorot and the State of Israel., were accepted by Justice Dr. Dafna Avnieli of the Tel Aviv District Court.

 

Mekorot Israel National Water Co. was represented by Timor Belan (Partner) and Nir Keidar, together with Nehushtan, Zafran, Scharf, Jaffe & Co.

 

For more information on our litigation practice, visit here.

February 10th, 2015

Gornitzky's Daniel Paserman was featured by the Globes newspaper in an article where he is interviewed on the phenomena of Israelis with offshore bank accounts. Read the full srory (Hebrew): 

Gornitzky's Daniel Paserman was featured by the Globes newspaper in an article where he is interviewed on the phenomena of Israelis with offshore bank accounts. The discussion was focused mainly on the legitimacy of the funds in these accounts and expected changes to the trend.

Read the full srory (Hebrew): 

February 4th, 2015

Gornitzky represented Le Peigne in its investment in Taboola, as part of a consortium of investors in Taboola’s USD 117 million financing round. 

Gornitzky represented Le Peigne in its investment in Taboola, as part of a consortium of investors in Taboola’s USD 117 million financing round. Le Peigne is controlled by the Arnault Group, which also controls Christian Dior and LVMH Moet-Hennessy—Louis Vitton.

Taboola is a leading content discovery and marketing platform, serving over 130 billion recommendations to over 350 million unique visitors every month.

Le Peigne was represented by Chaim Friedland (Partner) and Yoav Meer.

February 1st, 2015

Gornitzky represented Israel Corporation in the successful interim decision in a derivative suit against the company, whereby the court accepted the motion not to reveal attorney-client privileged information discussed in board meetings.

Gornitzky represented Israel Corporation in the successful interim decision in a derivative suit against the company, whereby the Economic Division of the Tel Aviv District Court accepted the motion not to reveal attorney-client privileged information discussed in board meetings. The derivative suit is in relation to the restructuring of the company's subsidiary, Zim Integrated Shipping Services Ltd.

 

Israel Corporation is represented by Pinhas Rubin (Firm Chairman), Noam Ronen (Partner) and Noga Haruvi.

 

For more information on our class actions practice, visit here.

January 18th, 2015

Gornitzky hosted an event for Masa Israel Journey participants who are contemplating aliya on the various legal aspects of immigration.

Gornitzky hosted an event for Masa Israel Journey participants who are contemplating aliya on the various legal aspects of immigration.

 

The event included a lecture by Bar Sarafian - a recent immigrant herself - on labor law, immigration law and other legal aspects related to non-Israelis living and working in Israel. The event also included a Q&A panel with Gornitzky lawyers who have made aliya from the U.S., South Africa, Switzerland and Australia.

January 12th, 2015

Gornitzky represented Israel Corporation as the conglomerate split itself into two parts, and in the dual-listing of its spin-off, Kenon Holdings Ltd., on the TASE and on the NYSE.

Gornitzky represented Israel Corporation (TASE: ILCO) as the conglomerate split itself into two parts by way of a distribution of a dividend in kind, and in the dual-listing of its Singaporian spin-off corporation, Kenon Holdings Ltd. (TASE: KEN, NYSE: KEN) on the Tel Aviv Stock Exchange and on the New York Stock Exchange.

 

Israel Corporation and Kenon were represented by Pinhas Rubin (Firm Chairman) and Lior Porat (Partner), together with Elite Elkon-May-Tal (Partner), Gil Grady (Partner, tax), Yair Shiloni (Partner, capital markets), Idan Baki (Partner, finance), Avner Finkelshtein (Partner, antitrust), Nurit Traurik (Partner), Ori Yitzhak, Itamar Ben Yehuda (capital markets), Avishai Marom, Amit Levy, Shira Porat (finance) and Natalie Dragot.

December 29th, 2014

Gornitzky represented Shanghai GEOC Hengtong Investment Limited Partnership, a Chinese investment fund, and its affiliate, Fortune China Ltd. in a USD 5 million investment in Vascular Graft Solutions Ltd.

Gornitzky represented Shanghai GEOC Hengtong Investment Limited Partnership, a Chinese investment fund, and its affiliate, Fortune China Ltd. in a USD 5 million investment in Vascular Graft Solutions Ltd.

 

Vascular Graft Solutions Ltd. is a developer of innovative solutions to improve the outcome of bypass surgery and patients’ quality of life. 

 

Shanghai GEOC Hengtong Investment Limited Partnership and Fortune China Ltd. were represented by Timor Belan (Partner) and Assaf Harel.

December 23rd, 2014

Gornitzky represents Osem (of the Nestle group) in the successful and precedential dismissal of a consumer class action suit after a motion to allow the class action was previously granted.

Gornitzky represented Osem Investments Ltd. (TASE: OSEM, a part of the Nestle group) in the rare and successful dismissal of a consumer class action suit with respect to alleged mislabeling of cereal boxes against the company and Unilever,  after a motion to allow the class action was previously granted by the same judge.

 

Osem Investments Ltd. was represented by Noam Ronen (Partner) and Nimrod Saville.

 

For more information on our class actions practice, visit here.

November 26th, 2014

Gornitzky represented Northland Capital Markets in the USD 10 million follow-on offering of On Track Innovations Ltd. (NASDAQ: OTIV) on the NASDAQ Global Market.

Gornitzky represented Northland Capital Markets in the USD 10 million follow-on offering of On Track Innovations Ltd. (NASDAQ: OTIV) on the NASDAQ Global Market.  Northland Securities acted as sole underwriter for the offering.

 

Northland Capital Markets, a boutique investment banking firm that focuses on growth companies and institutional investors, was represented by Chaim Friedland (Partner), Ari Fried (Partner) and Yoav Meer.

November 9th, 2014

Gornitzky represented Shanghai GEOC Hengtong Investment Limited Partnership, a Chinese investment fund, and its affiliate, Fortune China Ltd. in a USD 12 million investment in CNoga Medical Ltd.

Gornitzky represented Shanghai GEOC Hengtong Investment Limited Partnership and its affiliate, Fortune China Ltd., in a USD 12 million investment in CNoga Medical Ltd.

 

Cnoga Medical Ltd. is a developer of home medical screening devices using non-invasive monitoring technology.

 

Shanghai GEOC Hengtong Investment Limited Partnership and Fortune China Ltd. were represented by Timor Belan (Partner) and Ariel Davis.

October 30th, 2014

Representation of Israel Corp. in USD 200 million collar transaction with Goldman Sachs and Morgan Stanley as counterparties 

We represented Israel Corp. in a collar transaction with Goldman Sachs and Morgan Stanley as counterparties. This collar is a unique equity derivative transaction, (even on a global scale) that involved complex financing issues and collateral arrangements that are rarely seen and done on the Israeli market. In addition, the transaction involved questions of both US and Israeli securities laws, as a result of the dual listing of Israel Chemicals shares on the NYSE, and included the first ever IPO conducted as a short sale in connection with an equity derivative transaction.

September 29th, 2014

Gornitzky represented Israel Corporation in a USD 200 million derivative financing transaction, with respect to shares of Israel Chemicals (ICL).

Gornitzky represented Israel Corporation (TASE: ILCO) in a USD 200 million derivative financing transaction, with respect to shares of Israel Chemicals (TASE: ICL), which were part of a sale offering of ICL's shares on the New York Stock Exchange.

 

Israel Corporation was represented by Idan Baki (Partner) and Nurit Traurik (Partner).

August 31st, 2014

Gornitzky represented 3D Systems Inc. in the USD 120 million cash acquisition of Simbionix.

Gornitzky represented 3D Systems Inc. in the USD 120 million cash acquisition of Simbionix USA Corp., a developer of 3D virtual reality simulation systems for training doctors to conduct complex surgical and treatment procedures.

 

3D Systems Inc. (NYSE: DDD) was represented by Chaim Friedland (Partner), Daniel Paserman (Partner, Tax), Avi Meer and Danielle Skald.

July 3rd, 2014

Partner Avner Finkelshtein participated in a panel group discussion on antitrust and competition matters.

Partner Avner Finkelshtein participated in a panel group discussion on antitrust and competition matters.  The topics discussed included excessive legislation, the growth in manpower at the Israel Antitrust Authority and the Law for Enhancement of Competition in the Israeli Food Sector as an example of competitive activism.  Avner's advice to the IAA, "My advice to the IAA is to dare to listen to the private sector...if they would listen they could avoid mistakes".

April 2nd, 2014

Gornitzky represented Altria Group Inc. in its acquisition of Green Smoke Inc., an electronic cigarette business, for USD 110 million and up to USD 20 million in incentive payments.

Gornitzky represented Altria Group Inc. (NYSE: MO) in its acquisition of Green Smoke Inc., an electronic cigarette business, and its affiliates. Altria, which owns the top U.S. cigarette maker, Philip Morris USA, has purchased Green Smoke for USD 110 million and up to USD 20 million in incentive payments.

 

Altria Group Inc. was represented by Chaim Friedland (Partner, Corporate M&A), Yoram Arad (Partner, High-Tech), Ari Fried (Partner, Corporate M&A), Idan Baki (Partner, Finance), Michael Ayalon (Partner, Labor), Dafna Michalevich-Bacharach (High-Tech), Avi Meer (Corporate) and Joanna Yanowsky (Labor).

March 31st, 2014

Gornitzky & Co. announced the launch of a new journal "Family Wealth" on private wealth, trusts and estates.

Gornitzky & Co. announced the launch of a new journal "Family Wealth" ("הון משפחתי") on private wealth, guardianship, trusts and estates with partners, Gur Y. Savir and Aviram Handel, as Co-Chief Editors.

 

The journal will be distributed at a conference to take place on April 2, which will be attended by Supreme Court Justice Neal Hendel, Tel Aviv District Court Justice Shaul Shohat, professors from leading universities in Israel and many others.

March 5th, 2014

Gornitzky & Co. represented the underwriters, led by Jefferies, in Compugen Ltd.’s USD 72.5 million public offering on the NASDAQ Global Market.


Gornitzky & Co. represented the underwriters, led by Jefferies, in Compugen Ltd.’s USD 72.5 million public offering on the NASDAQ Global Market. Compugen is dually traded on the NASDAQ and the Tel Aviv Stock Exchange (NASDAQ: CGEN, TASE: CGEN).

 

Jefferies LLC acted as the sole bookrunner for the offering.  JMP Securities, Oppenheimer & Co. and Chardan Capital Markets acted as co-managers.


The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Ariel Davis.

March 4th, 2014

Gornitzky & Co. represented the underwriters, led by Goldman Sachs, Credit Suisse and Jefferies, in Lumenis Ltd.’s USD 75 million public offering on the NASDAQ Global Select Market.

Gornitzky & Co. represented the underwriters, led by Goldman Sachs, Credit Suisse and Jefferies, in Lumenis Ltd.’s USD 75 million public offering on the NASDAQ Global Select Market.

 

Goldman Sachs, Credit Suisse and Jefferies acted as joint book-running managers for the offering. Wells Fargo Securities acted as co-manager for the offering.


The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Sagit Amit Evan.

February 27th, 2014

Dubi Gross, a partner at Gornitzky & Co., was featured in an article in the Globes newspaper on China's penetration into the Israeli market.

Dubi Gross, a partner at Gornitzky & Co., was featured in an article in the Globes newspaper on China's penetration into the Israeli market, in light of the possible sale of Israeli dairy manufacturer, Tnuva, to China’s state-owned Bright Foods company.

 

Mr. Gross maintains that there are several important factors to take into account when doing business with the Chinese, "The Chinese internal procedures, such as decision-making procedures, are highly structured and different from what we are accustomed to. They are longer processes, with a particular order, and you can not bypass or shorten the procedures." Mr. Gross attributes this in part to the numerous Chinese regulatory demands and authorizations required when taking money out of the country. As one who represents Chinese companies in negotiations, he noted their thorough and pleasant nature; even in tense situations.

Read the full story (Hebrew):

February 2nd, 2014

Gornitzky & Co. represented Fortissimo Capital Fund in its NIS 192 million acquisition of Eshbel Technologies Ltd., after receiving court approval for the transaction.

Gornitzky & Co. represented Fortissimo Capital Fund in its NIS 192 million acquisition of Eshbel Technologies Ltd. The transaction was conducted through the Central Region District Court in the context of insolvency proceedings with respect to Eshbel.

 

Eshbel is the developer of Priority, proprietary ERP software for small and medium businesses worldwide.

 

Fortissimo Capital Fund was represented by Chaim Friedland (Partner, Corporate/M&A), Maya Sabari (Sadeh) (Partner, Litigation), Idan Baki (Partner, Finance), Avner Finkelshtein (Partner, Antitrust) and Ariel Davis.

January 22nd, 2014

Gornitzky represented A.D.O. Group Ltd. (TASE: ADO) in its issuance of public bonds, in which ADO raised NIS 100 million.  

Gornitzky represented A.D.O. Group Ltd. (TASE: ADO) of the Shikun & Binui Group (TASE: SKBN) in its issuance of public bonds, in which ADO raised NIS 100 million.  The bonds were secured by shares in a Cypriot company. 

 

A.D.O. Group Ltd. was represented by Yair Shiloni (Partner) and Itamar Ben Yehuda.

January 16th, 2014

Gornitzky represented Shilav Group Ltd. in the sale of all of its shares in Tiny Love Ltd. and affiliated companies.

Gornitzky represented Shilav Group Ltd. in the sale of all of its shares in Tiny Love Ltd. and its U.S. and Chinese affiliates to Dorel Industries Inc. (TSX: DII/B), a Canadian corporation based in Quebec. Dorel Industries designs and manufactures for three areas: juvenile, home furnishings and recreational/leisure. The purchase price was not disclosed.

 

Tiny Love Ltd. is in the business of designing, developing and supplying retailers and distributors with activity gyms, mobiles, baby gear, baby toys and on-the-go baby toys.

 

Shilav Group Ltd. was represented by Chaim Friedland (Partner), Timor Belan (Partner), Avner Finkelshtein (Partner, Antitrust) and Yoav Meer.

December 10th, 2013

Gornitzky represented Materna Industries in an agreed order with the Israel Antitrust Authority, whereby the leading infant nutrition company will not be declared a member of an oligopoly.

Gornitzky represented Materna Industries in an agreed order with the Israel Antitrust Authority, whereby the Commissioner will not declare Materna, Israel's leading infant nutrition company, a member of a concentration group (oligopoly) under the amended Israeli Restrictive Trade Practices Law. Terms for infant formula distribution to Israeli hospitals have also been regulated in the agreement.

 

Materna Industries Limited Partnership, owned by Osem-Nestle (TASE: OSEM), was represented by Avner Finkelshtein (Partner), Sagit Ohana-Livne (Partner) and Ehud Katzenelson.

October 29th, 2013

Gornitzky represented A.D.O. Group Ltd. in its acquisition of a EURO 98 million German residential real estate portfolio from British property fund manager Stenham.

Gornitzky represented A.D.O. Group Ltd. (TASE: ADO) of the Shikun & Binui Group (TASE: SKBN) in its acquisition of a EURO 98 million German residential real estate portfolio from British property fund manager Stenham for cash and shares in A.D.O. Group. The portfolio comprises 48 buildings in Berlin including approximately 1,150 residential units.


A.D.O. Group Ltd. was represented by Yair Shiloni (Partner), Dubi Gross (Partner) and Yehonatan Raff.

September 16th, 2013

Gornitzky & Co. represented I.P.M. Beer Tuvia Ltd. in an EPC contract with Siemens AG and Siemens Israel Ltd. for the development and construction of an approximately 430 megawatt private power plant.

Gornitzky & Co. represented I.P.M. Beer Tuvia Ltd. in an engineering, procurement and construction (EPC) contract with Siemens AG (XETRA: SIE) and Siemens Israel Ltd. with respect to the development and construction of an approximately 430 megawatt duel fueled, combined cycle, gas turbine private power plant in Israel.


I.P.M. Beer Tuvia Ltd. was represented by Jack Smith (Partner), Moshe Krieger and Arielle Ruimi.

September 9th, 2013

Gornitzky represented a former CEO in the rejection of NIS 6.8 million of corporate embezzlement charges filed by the company he had headed, and in filing a counter claim against the company.

Gornitzky represented a former CEO in the rejection of NIS 6.8 million of corporate embezzlement charges filed by the company he had headed, and in filing a countersuit against the company.

 

Regional Labor Court Justice Ilan Itah decreed that the payments received by the CEO are neither the fruits of embezzlement nor an unusual scheme, as wrongfully argued by the employer. The judge subsequently rejected the majority of the suit, while partially accepting the counter claim made by the CEO following which he ruled that the parties must settle accounts for certain amounts owed to one another.

 

The CEO was represented by Ofer Tzur (Partner, Head of Litigation) and Harel Shaham (Partner).

August 6th, 2013

Gornitzky represented TRAX Technology Solutions Pte Ltd. in finalizing a USD 6.6 million A-round financing agreement with one of Singapore's largest private equity funds.

Gornitzky represented TRAX Technology Solutions Pte Ltd. in finalizing a USD 6.6 million A-round financing agreement with one of Singapore's largest private equity funds. The terms of the agreement include the immediate cash infusion of USD 6.6 million, with an option for an additional USD 14 million (approximately) available over the next 18 months.

 

TRAX Technology Solutions Pte Ltd. is a leading provider of in-store auditing and shelf monitoring solutions for the fast moving consumer goods industry (FMCG).

 

TRAX was represented by Chaim Friedland (Partner), Yoram Arad (Partner) and Yehonatan Raff.

 

July 25th, 2013

Gornitzky represented Terra Group in their partnership with Boulevard Group in a combination deal for the construction of 200 residential units and a commercial center in Tel Aviv.

Gornitzky represented Terra Group in their partnership with Boulevard Group in a combination deal for the construction of 200 residential units and a commercial center in Tel Aviv. The project will be built on an area of 3 dunam in the Florentine neighborhood of Tel Aviv.

 

Terra Group was represented by Timor Belan (Partner) and Lior Relevy.

July 4th, 2013

Jack Smith, a leading energy law partner at Gornitzky & Co., participated in a panel discussion on "The Consequences of the Natural Gas Revolution on the Israeli Economy and Industry" at an annual energy conference.

Jack Smith, a leading energy law partner at Gornitzky & Co., participated in a panel discussion on "The Consequences of the Natural Gas Revolution on the Israeli Economy and Industry" at Tashtiot's 3rd annual energy conference in Tel Aviv.

 

The conference was attended by speakers including Israel's Minister of Energy and Water, Silvan Shalom, and Tel Aviv's Mayor Ron Huldai.

 

Other lawyers from Gornitzky & Co. to lecture at the conference included Moran Erez and Moshe Krieger.

July 1st, 2013

Recently, Gornitzky & Co. welcomed a new partner to its ranks, Mr. Avner Finkelshtein. Also to join the firm, are nine new associates.

Recently, Gornitzky & Co. welcomed a new partner to its ranks, Avner Finkelshtein. Also to join the firm, are nine new associates.

 

Mr. Finkelshtein joined the firm as an associate in 2011, after serving as Deputy Director and legal counsel of the Investigations Department at the Israel Antitrust Authority. He specializes in a wide variety of competition law matters, such as mergers and acquisitions, criminal cartel investigations, joint ventures, abuse of dominance, distribution and pricing practices and other legislations governing foreign investments in Israel.

Gornitzky & Co. has also welcomed nine new associates to its ranks, including Sagit Amit-Evan,  Avi Meer, Danna Parnes, Gilad Rosen (CPA) and Nurit Lifshitz. Also to join the firm - Liron Gilor, Nimrod Saville, Moran Shanni and Eyal Rivner, who have recently completed their legal clerkship.

June 23rd, 2013

Gornitzky represented Negev Energy – Ashalim Thermo-Solar Ltd. in their win of a BOT tender for the design, finance, construction and operation of a USD 1.1 billion solar thermal plant in Ashalim with a net power output of up to 121 megawatts.

Gornitzky represented Negev Energy – Ashalim Thermo-Solar Ltd., a company equally held by Shikun & Binui - Renewable Energy Ltd. (TASE: SKBN) and a subsidiary of Spain's Abengoa Solar S.A., in their win of a BOT tender published by the Government of Israel for the design, finance, construction and operation of a USD 1.1 billion solar thermal plant in Ashalim with a net power output of up to 121 megawatts.

 

The planned concentrated solar power plant is expected to operate as a parabolic trough plant with 4.5 hours of thermal energy storage. Electricity generated in the plant will be purchased by Israel Electricity Corporation over a 25 year power purchase agreement.

 

Negev Energy was represented by Itay Geffen (Partner), Dubi Gross (Partner), Moshe Krieger, Imri Kozak and Arielle Ruimi.

June 10th, 2013

Gornitzky represented Kadimastem Ltd. in its USD 5.5 million initial public offering on the Tel Aviv Stock Exchange.

Gornitzky represented Kadimastem Ltd. (TASE: KDST) in its initial public offering of 3.1 million shares on the Tel Aviv Stock Exchange, for approximately USD 5.5 million. The underwriter of the offering was Rosario Capital Ltd.


Kadimastem is an Israeli biotechnology company focused on the industrial development and commercialization of human pluripotent stem cell-based products for the pharmaceutical and/or medical treatment of diabetes, neurodegenerative diseases and other indications.


Kadimastem Ltd. was represented by Sharon Werker-Sagy (Partner) and Etai Mashiah.

June 9th, 2013

Gornitzky represented Rutledge Vine Capital in its second equity investment in Getonic Ltd., a private company which developed a social-shop platform. 

Gornitzky represented Rutledge Vine Capital in its second equity investment in Getonic Ltd., a private company which developed a social-shop platform. Rutledge's investment in Getonic is its second investment in the company following an investment made in mid-2012, where it was also represented by Gornitzky.

 

Rutledge Vine Capital is a global Super Angel Investor that provides early stage venture funding to startup and seed companies and technovation research projects across the world.

 

Rutledge was represented by Ari Fried (Partner).

June 5th, 2013

Gornitzky & Co. represented the underwriters led by Morgan Stanley and Jefferies in the USD 59 million initial public offering of Kamada Ltd. on NASDAQ.

Gornitzky & Co. represented the underwriters, led by Morgan Stanley and Jefferies, in the USD 59 million initial public offering of Kamada Ltd. on the NASDAQ Global Select Market.

 

Kamada, a biopharmaceutical company engaged in specialty life-saving therapeutics, was traded on the Tel Aviv Stock Exchange prior to the NASDAQ offering and its shares are now traded on both the TASE and NASDAQ.

 

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Yoav Meer.

May 8th, 2013

Gornitzky represented an international consortium of investors in the acquisition of a controlling stake in Carmel Winery, valued at NIS 130 million.

Gornitzky represented an international consortium of investors in the acquisition of a controlling stake in Carmel Winery. The winery, valued at NIS 130 million, is Israel’s oldest and largest commercial winery, founded in 1882 by Baron Edmond de Rothschild.

 

The purchasing consortium was organized by Kedma Capital, a private equity fund, and is comprised of both Israeli and foreign investors, including the Jesselson family.

The investors were represented by Chaim Friedland (Partner), Yisrael Spero (Partner), Avner Finkelshtein and Yoav Meer.

April 28th, 2013

Gornitzky represented Chinese conglomerate, Fosun International Ltd., in their acquisition of Alma Lasers Ltd. for approximately USD 240 million.

Gornitzky represented Chinese conglomerate, Fosun International Ltd. (HK: 656), in all legal aspects of their approximately USD 240 million acquisition of a 95.6% stake in Alma Lasers Ltd., a manufacturer of lasers used in cosmetic surgery. Alma Lasers was purchased by Fosun International's subsidiaries, Shanghai Fosun Pharmaceuticals (Group) Co. Ltd. and Chindex Medical Ltd., and its private equity fund, Pramerica-Fosun China Opportunity Fund.

 

Fosun International is the largest private-owned (non-governmental) conglomerate in Mainland China. This is Fosun International's first acquisition since its public offering on the Hong Kong Stock Exchange and its first ever investment outside of China.

 

Fosun International Ltd. was represented by Chaim Friedland (Partner, Corporate), Gil Grady (Partner, Tax), Dubi Gross (Partner, Corporate), Avner Finkelshtein (Antitrust), Gilad Lubinsky (Litigation), Michael Ayalon (Labor), Mirit Ber-Hoffman, Yehonatan Raff, Joanna Yanowsky and Yoav Meer.

April 21st, 2013

Gornitzky represented Isramco Ltd. in a USD 500 million loan from Deutsche Bank and Natixis, which will be used in part to finance the development of the Tamar gas field.

Gornitzky represented Isramco Ltd. (NASDAQ: ISRL; TASE: ISRA.L) in a USD 500 million loan from Deutsche Bank (NYSE: DB; DAX: DBK) and Natixis (FP: KN), which will be used to repay the company's bridge loan for the financing of the development of its share in the Tamar gas field, and for further development of the field.

 

Isramco Ltd. was represented by Elite Elkon May-Tal (Partner) and Ori Yitzhak.

April 18th, 2013

Gornitzky represented Tene Investment Funds, a private equity firm, in the USD 168 million sale of its holdings in Caesarstone Sdot-Yam Ltd. (Nasdaq: CSTE) in an underwritten follow-on offering. 

Gornitzky represented Tene Investment Funds, a private equity firm, in the USD 168 million sale of its holdings in Caesarstone Sdot-Yam Ltd. (Nasdaq: CSTE) in an underwritten follow-on offering.

 

J.P. Morgan Securities LLC, Barclays Capital Inc. and Credit Suisse Securities (USA) LLC served as the joint bookrunning managers for the offering, and Stifel, Nicolaus & Company, Incorporated and Robert W. Baird & Co. Incorporated served as the co-managers for the offering.

 

The representation of Tene Investment Funds was led by Chaim Friedland (Partner) and Ari Fried (Partner).

 

March 12th, 2013

Gornitzky & Co. represented Profimex Ltd. in the acquisition of the Arlington Highlands shopping center in Texas, valued at USD 204 million. 

Gornitzky & Co. represented Profimex Ltd. in the acquisition of the Arlington Highlands shopping center in Texas, valued at USD 204 million. The tenants list includes over 100 national chains and leading retailers, such as Bed Bath & Beyond (NASDAQ: BBBY), Old Navy (a brand of Gap Inc., NYSE: GPS), Pet Smart (NASDAQ: PETM) and Starbucks (NASDAQ: SBUX).

 

Profimex Ltd. is a global real estate and renewable energy investment firm that serves as a premier provider of global real estate investment opportunities for High Net Worth Individuals and institutional investors, and organizes joint investment schemes with foreign investors in each local jurisdiction.

 

Profimex Ltd. is represented by Daniel Paserman (Partner), Dr. Zvi Gabbay (Partner), Yisrael Spero (Partner) and Guy Avner.

February 21st, 2013

Gornitzky & Co. represented Arison Holdings, which holds the controlling stake in Bank Hapoalim, in raising NIS 2.5 billion in a private placement - one of the largest in recent years.

Gornitzky & Co. represented Arison Holdings, which holds the controlling stake in Bank Hapoalim, in raising NIS 2.5 billion in a private placement. This placement is one the largest to transpire in recent years.

 

Arison Holdings was represented by Itay Geffen (Partner) and Yiftah Farber.

February 14th, 2013

Gornitzky represented Rutledge Vine Capital in its equity investment in Tok Media International Ltd., a private company in the social media space.

Gornitzky represented Rutledge Vine Capital in its equity investment in Tok Media International Ltd., a private company in the social media space. Rutledge's investment in Tok Media marks its fourth investment in Israel represented by Gornitzky.


Rutledge Vine Capital is a global Super Angel Investor that provides early stage venture funding to startup & seed companies and technovation research projects across the world.


Rutledge was represented by Mr. Ari Fried (Partner) and Mr. Yoav Meer.

January 28th, 2013

Mr. Pinhas Rubin, Firm Chairman at Gornitzky & Co., was featured in an article in The Marker discussing Amendment 20 to the Companies Law, which requires companies to establish a wage policy and strengthens the position of minority shareholders.

Mr. Pinhas Rubin, Firm Chairman at Gornitzky & Co., was featured in an article in The Marker discussing Amendment 20 to the Companies Law, which requires companies to establish a wage policy and strengthens the position of minority shareholders.

 

According to Mr. Rubin, the mistake with the amendment is that the board of directors knows the company from up close and knows what is best for the company and suddenly it will need to explain itself to shareholders, including those minority shareholders who only hold the shares for short periods of time. Mr. Rubin believes the amendment will cause disorder, a multitude of suits, and fear on the part of the serving directors due to the responsibility on their shoulders, "As soon as the general assembly says no, the executives will threaten to leave, the board of directors will revoke the decision made by the institutional investors, and then there will be all derivative suits that the board of directors will need to bravely stand up against."

January 15th, 2013

Gornitzky & Co. represented Mustang Mezzanine Fund in connection with a mezzanine loan to Malka Retail Group Ltd., a privately-held company and a dominant middle-size fashion manufacturer and retailer, with leading brands such as “ML” and “Jump”.

Gornitzky & Co. represented Mustang Mezzanine Fund in connection with a mezzanine loan to Malka Retail Group Ltd., a privately-held company, and a dominant middle-size fashion manufacturer and retailer, with leading brands such as “ML” and “Jump”. The transaction with Mustang is directed towards funding the future non-organic growth of the group.

 

Mustang Mezzanine Fund was represented by Mr. Chaim Friedland (Partner), Mr. Yair Shiloni (Partner), Mr. Yiftah Farber and Mr. Yoav Meer.

January 7th, 2013

Gornitzky & Co. represented Profimex Ltd. in their USD 29 million acquisition of real estate in Columbus, Ohio, wholly leased to DSW (NYSE: DSW) - a leading branded footwear retailer in the United States.

Gornitzky & Co. represented Profimex Ltd. in their USD 29 million acquisition of real estate in Columbus, Ohio, wholly leased to DSW (NYSE: DSW) - a leading branded footwear retailer in the United States. The property has been leased through a long-term contract with built-in rent increases and is subleased to the State of Ohio Department of Taxation.

 

Profimex Ltd. is a global real estate and renewable energy investment firm that serves as a premier provider of global real estate investment opportunities for High Net Worth Individuals and institutional investors, and organizes joint investment schemes with foreign investors in each local jurisdiction.

 

Profimex Ltd. is represented by Daniel Paserman (Partner), Dr. Zvi Gabbay (Partner), Yisrael Spero (Partner) and Guy Avner.

January 1st, 2013

Michael Ayalon, who leads Gornitzky's labor law practice, was featured in an article in the Calcalist newspaper discussing the ramifications of a proposal to forbid employers to force employees to retire at the age of 67.

Michael Ayalon, who leads Gornitzky's labor law practice, was featured in an article in the Calcalist newspaper discussing the ramifications of a proposal to forbid employers to force employees to retire at the age of 67, by revoking the Retirement Age Law (2004).

 

Mr. Ayalon believes that abolishing the law will unnecessarily take away from an employer's ability to run his business and only create further problems, "In the public sector there are still historical rulings and regulations that perpetuate the employment of inefficient employees over the course of many years prior to them reaching the age of retirement.  Now, abolishing assuming the law, which allows for the termination of their employment, will be revoked, those inefficient employees will remain in the workforce for many more years and at the expense of the taxpayers. And even more importantly, at the expense of other employees for whom the coveted positions will not become vacant."

December 24th, 2012

Gornitzky & Co. represented nine leading Israeli soccer teams in their appeal to the Supreme Court of Justice in response to a judgment, which obligates the teams to pay VAT on transfer fees paid when foreign soccer players are transferred from overseas teams.

Gornitzky & Co. represented nine leading Israeli soccer teams in their appeal to the Supreme Court of Justice in response to a judgment granted by the Tel Aviv District Court. The judgment, which was issued in favor of the Israel Tax Authority, obligates the teams to pay VAT on transfer fees paid when foreign soccer players are transferred from overseas teams.

 

The appeal was filed based on the claim that the transfer fees are not in exchange for an imported asset (the players), but rather as compensation to the foreign club for breach of a contract abroad, effectively releasing the player from his contract with the foreign club to enable him to sign a new contract with the Israeli team, as set forth in the FIFA rules.

 

Pinhas Rubin (Firm Chairman), Daniel Paserman (Partner, Head of Tax) and Yoad Cohavy are leading the representation.

December 12th, 2012

Michael Ayalon, who leads Gornitzky's labor law practice, was featured in an article in the Globes newspaper discussing issues with the Employment of Women Law, 1954, whereby employers are forbidden to dismiss pregnant employees, even if the reason behind termination is unrelated to the pregnancy.

Read the full story (Hebrew):

Michael Ayalon, who leads Gornitzky's labor law practice, was featured in an article in the Globes newspaper discussing issues with the Employment of Women Law, 1954, whereby employers are forbidden to dismiss pregnant employees, even if the reason behind termination is unrelated to the pregnancy.

 

Mr. Ayalon emphasized that employers wish to promote equal rights in the workplace, "We are all in favor of legislation as a means to accomplish this important goal." However, in the current situation, only the employers bear the cost of equality and he is quoted by the newspaper stating, "The exaggerated over-protection of working women in recent years may result, and perhaps already has, in employers avoiding employing women of childbearing age, in fear that they will be prevented from firing them for many years."

 

Read the full story (Hebrew):

December 10th, 2012

Gornitzky & Co. represented a group of investors in their investment in iMingle Ltd., an online Facebook application.

Gornitzky & Co. represented a group of investors in their investment in iMingle Ltd., an online Facebook application.

 

iMingle is the leading online live party and events application on Facebook, with over 6.5 million registered users.

 

The investors were represented by Chaim Friedland (Partner) and Yehonatan Raff.

 

November 29th, 2012

Gornitzky & Co. acted as Israeli counsel to Geni Inc., an online application for researching and building family trees based in California, in connection with its acquisition by its Israel-based rival, MyHeritage Ltd.

Gornitzky & Co. acted as Israeli counsel to Geni Inc., an online application for researching and building family trees based in California, in connection with its acquisition by its Israel-based rival, MyHeritage Ltd.

 

Gornitzky advised Geni in connection with the Israeli facets of the deal, including recommendations regarding the structure of the transaction.

 

Geni was represented by Chaim Friedland (Partner) and Yisrael Spero.

November 26th, 2012

Gornitzky & Co. represented Terra Group in a joint venture with the Boulevard Real Estate Group for the purchase of 1.7 dunam in Ramat Gan for NIS 40 million.

Gornitzky & Co. represented Terra Group in a joint venture with the Boulevard Real Estate Group for the purchase of 1.7 dunam in Ramat Gan for NIS 40 million.

 

Terra Group, a 30% stakeholder in the project, and Boulevard Real Estate Group will utilize the land for the construction of a new housing project, which will include at least 9 floors and 100 residential units.

 

Terra Group was represented by Timor Belan (Partner) and Lior Relevy.

November 19th, 2012

Gornitzky represented Israel Corporation Ltd. and entities controlled by the Ofer Group in connection with a convertible note financing in Better Place Inc. of up to an aggregate of USD 100 million.

Gornitzky represented Israel Corporation Ltd. and entities controlled by the Ofer Group in connection with a convertible note financing in Better Place Inc. of up to an aggregate of USD 100 million.

 

The investment was made by existing shareholders of Better Place and included, in addition to Israel Corporation and the entities controlled by the Ofer Group, additional shareholders of Better Place, including a leading global financial institution.

 

Zvi Ephrat (Senior Partner), Chaim Friedland (Partner) and Avishai Marom led the representation.

November 5th, 2012

Yair Shiloni, a partner at Gornitzky who specializes in corporate law and capital markets, was featured in an article in the Globes newspaper discussing the recent amendment to the Companies Law.

Yair Shiloni, a partner at Gornitzky who specializes in corporate law and capital markets, was featured in an article in the Globes newspaper discussing the recent amendment to the Companies Law, which will limit the salaries of executives in public companies.


Mr. Shiloni is quoted by the newspaper, where he stated, "The new amendment will not necessarily bring about a change in the rising salaries of executives, which the law amenders are seeking to bring to a halt.  On the other hand, it may create a noticeable difficulty in bringing good managers to public companies, which constitute a source of human capital vital for the success of company, and to dim to some extent the controlling shareholder's ability to control, as he will now be limited in his ability to direct and influence the compensation of executive officers in the company."

October 22nd, 2012

Dr. Zvi Gabbay, the former Head of Enforcement at the Israel Securities Authority, and Etai Mashiah were featured in an article in the Calcalist newspaper in which they gave tips to corporations following recent amendments to the administrative enforcement procedure legislation.

Dr. Zvi Gabbay, the former Head of Enforcement at the Israel Securities Authority, and Etai Mashiah were featured in an article in the Calcalist newspaper in which they gave tips to corporations following recent amendments to the administrative enforcement procedure legislation.

 

One of their suggestions is to implement an internal compliance program, and the two have co-authored an article ("Internal Compliance Programs: The Challenges Facing the Israeli Regulator") in which they discuss lessons learned from the United States with regard to this practice.

September 12th, 2012

Gornitzky & Co. represented private landowners of 55 dunam of land in Hod Hasharon in a significant combination venture agreement with two contracting companies for the construction of 400 residential units.

Gornitzky & Co. represented private landowners of 55 dunam of land in Hod Hasharon in a combination venture agreement with two contracting companies for the construction of 400 residential units.

 

The land to be sold is currently zoned as agricultural property and is expected to be rezoned as residential property.

 

The private landowners were represented by Mr. Eyal Marom (Partner), Ms. Shiri Shani (Partner) and Ms. Anna Cooperman.

September 11th, 2012

Gornitzky is representing leading Israeli student organizations, on a pro bono basis, in a petition to the High Court of Justice against an amendment to the National Insurance law.

Gornitzky is representing leading Israeli student organizations, on a pro bono basis, in a petition to the High Court of Justice against an amendment to the National Insurance law. Under the amendment, interns who have completed their internship, and are studying for the Israel Bar Association or Israel Board of Accountancy exam, are denied the right to unemployment benefits during the period of their studies for the exam.

 

The petition, submitted today (September 11th) is based upon the amendment's infringement of the interns' rights to equality on two accounts: first, with other unemployed persons who are not registered for certification exams, and second, with unemployed persons who are studying for their certification exams in other areas, such as investment advisers, physiotherapists, and others.

 

The petition is being led by Mr. Michael Ayalon and Mr. Imri Kozak.

September 7th, 2012

As part of a recent panel of Israel's top tax experts, Pinhas Rubin gave advice to Israel's Prime Minister and Minister of Finance on ways to decrease the budgetary deficit, while protecting the middle and lower classes of the economy.

As part of a recent panel of Israel's top 4 tax experts, hosted by Israeli newspaper "Globes," Pinhas Rubin gave advice to Israel's Prime Minister, Benjamin Netanyahu, and Minister of Finance, Yuval Steinitz, on ways to decrease the budgetary deficit, while protecting the middle and lower classes of the economy.

 

Rubin's advice included an innovative and creative solution for waging a strong battle against black money – "Future black money can be prevented or neutralized to a certain extent by technically banning cash payments...It's very simple. If there will be such a provision of law that the public is aware of, then no one will pay with cash anymore." And in doing so, Rubin believes, we will have created a system in which all transactions are controlled.

August 29th, 2012

In an article in the Israeli newspaper, Yedioth Ahronoth, Pinhas Rubin addresses the need for some changes in the Israeli justice system.

In an article in the Israeli newspaper, Yedioth Ahronoth, Pinhas Rubin addresses the need for some changes in the Israeli justice system.

 

One major change the Chairman of Gornitzky & Co. is looking to see is a solution to the serious lack of judges, which, in his opinion, has plagued the country for decades already. If the budget for the system is not increased, Mr. Rubin fears that the Israeli judiciary system will suffer the loss of some of its power, due to the overloading burden on the limited number of judges, "The country is committing a grievous sin towards the public in not setting aside the necessary resources for the [justice] system. Tell-tale signs of this misdoing can already be seen, and in my opinion, it will only get worse."

August 6th, 2012

The Lawyer, a prominent UK legal magazine, interviewed Managing Partner, Mr. Moriel Matalon, on whether foreign firms will aim to directly compete with local ones as a result of a new directive passed, which removed barriers preventing foreign lawyers from working in Israel. 

The Lawyer, a prominent UK legal magazine, interviewed Managing Partner, Mr. Moriel Matalon, on whether foreign firms will aim to directly compete with local ones as a result of a new directive passed, which removed barriers preventing foreign lawyers from working in Israel, and permits collaboration between Israeli and foreign law firms. 

 

Mr. Matalon expressed his views saying, "I’m somewhat skeptical over whether we’re going to have an inflow of foreign law firms in Israel…First, because I believe most of those law firms prefer to work with major firms in Israel rather than compete with them…Second, I believe that, apart from the knowledge of international law, in order to practice in Israel you need to have deep knowledge of the local environment – not only the legal issues, but how to deal with the government."

 

For the full article on The Lawyer's website, click here.

July 31st, 2012

While the government created uproar with its proposed amendment to the Hours of Work and Rest law, which will allow employers more flexibility in the division of daily work hours, Mr. Michael Ayalon, who leads the labor law practice at Gornitzky & Co., was interviewed on his thoughts on the matter.

Read the full story (Hebrew):

While the government created uproar with its proposed amendment to the Hours of Work and Rest law, which will allow employers more flexibility in the division of daily work hours, Mr. Michael Ayalon, who leads the labor law practice at Gornitzky & Co., was interviewed by Calcalist, a major Israeli newspaper, on his thoughts on the matter.

 

Mr. Ayalon explained the necessity of this change, saying that in times when a majority of the workforce no longer works in fields such as textile, agriculture and industry, "This is none other than an attempt to deal with the changing and dynamic reality… This proposed amendment is not a revolution, rather an adjustment and a necessary response to the needs of the modern employer and employee."

 

Read the full story (Hebrew):

June 19th, 2012

Gornitzky & Co. represented Dr. Joshua Rosensweig in a lawsuit in which Adv. Avi Gera claimed that Dr. Rosensweig allegedly prevented him from his share in their dissolved joint firm's alleged reputation.

Gornitzky & Co. represented Adv. Dr. Joshua Rosensweig (a former senior partner at Gornitzky and one of Israel's foremost businessmen) before the Israeli Supreme Court in a lawsuit in which Adv. Avi Gera claimed that Dr. Rosensweig allegedly prevented Adv. Gera from his share in their dissolved joint firm's alleged reputation. Adv. Gera estimated his share of the firm's reputation at NIS 9 million when filing the lawsuit in 2004.

 

The Supreme Court ruled in favor of Dr. Rosensweig, and affirmed the January 2011 District Court decision which stated that only in rare cases does a law firm have a reputation separate from the identity of its partners. The District Court referred specifically to Gornitzky & Co. as an example of a highly respected firm with a reputation independent from its partners.

 

The team handling the representation included Mr. Pinhas Rubin (Firm Chairman), Mr. Noam Ronen (Partner) and Mr. Ofer Fleischer.

June 17th, 2012

D&B Group (Israel) and WePower have named Gornitzky & Co. a leader in gender equality in the workplace.

D&B Group (Israel) and WePower have named Gornitzky & Co. a leader in gender equality in the workplace.

 

For the first time in Israel, a study was conducted by WePower and the D&B Group (Israel) to explore the promotion of women in the workplace. The study examined the percentage of women in managerial and director positions amongst 450 companies traded on the Tel Aviv Index 100 and in leading law and accounting firms.

 

With women constituting over 30% of the firm's partners, Gornitzky & Co. was awarded as a leader in the Israeli market in this regard by WePower and D&B Group (Israel).

 

WePower is an organization for the advancement of women's leadership in Israel.

June 12th, 2012

Mr. Pinhas Rubin, Chairman of Gornitzky & Co., criticized the toughening of Israeli regulation at an economics conference hosted by the Globes newspaper and the Tel Aviv Chamber of Commerce.

Mr. Pinhas Rubin, Chairman of Gornitzky & Co., criticized the toughening of Israeli regulation at an economics conference hosted by the Globes newspaper and the Tel Aviv Chamber of Commerce. He spoke of consequential damages that he fears the evolution of Israeli regulation seems to be causing, and of regulators who mean well but only do harm, saying, "There are regulators who mean well, but do the opposite when they force the breaking up of pyramids and of companies who hold financial and non-financial assets… One should regulate out of experience, not arrogance. I watch regulators who have just entered their positions feel that they know better than everyone, and this requires restraint.  The regulations nowadays are oppressive and impossible."

May 22nd, 2012

Gornitzky & Co. represented Bank Hapoalim in the complex refinancing arrangement of Bronicki Investments Ltd.'s NIS 500 million debt to the bank, in which the Bronicki family sold 12% of Ormat Industries Ltd. to FIMI Opportunity Fund. 

Gornitzky & Co. represented Bank Hapoalim in the complex refinancing arrangement of Bronicki Investments Ltd.'s NIS 500 million debt to the bank, in which the Bronicki family sold 12% of Ormat Industries Ltd. to FIMI Opportunity Fund.


Within the framework of the negotiations between the parties, Gornitzky & Co. represented Bank Hapoalim in two concurrent financing transactions. The first, between Bank Hapoalim and Bronicki, in which Poalim reinstated the remainder of their loan to Bronicki, with FIMI and Bronicki pledging their holdings in Ormat to secure the loan. The second transaction involved a right granted by FIMI to Bronicki Investments, whereby, under certain conditions, Bronicki can reassign to FIMI the balance of their debt to Bank Hapoalim. In this regard, Gornitzky handled the finance agreement and lien agreements with FIMI, which will come into effect only with the assignment of the loan.


Bank Hapoalim was represented by Eli Elya (Partner), Tamar Cohen and Lior Baran.

May 1st, 2012

Gornitzky & Co.'s managing partner, Moriel Matalon, was featured in the report on Israel in the May edition of Legal Business Magazine. 

Gornitzky & Co.'s managing partner, Moriel Matalon, was featured in the report on Israel in the May edition of Legal Business Magazine.

 

Mr. Matalon is quoted discussing the growing interest of international investors in financing Israeli transactions, saying, "We've recently seen much more interest shown by foreign banks looking at Israel for private wealth, but also to participate in [the] financing of major transactions." He also offered insights into Israel's economic life cycle and the potential reshuffle of the legal market.

April 23rd, 2012

The High Court of Justice accepted YES' motion and issued a conditional order against the validity of an amendment to the Communications Law.

The High Court of Justice accepted YES' motion and issued a conditional order (order nisi) against the validity of an amendment to the Communications Law, which exempts certain channels, including Channels 9 (Russian), 24 (Israeli music) and 30 (Arabic), from paying transfer fees to the satellite company for their broadcast. The legislative amendment had been accepted in 2010 and essentially absolved the said channels from paying significant fees to YES.

 

YES was represented by Mr. Lior Porat (Partner) and Mr. Asaf Avtuvi.

April 1st, 2012

Partner Communications (Orange) objected to a motion to file a derivative suit against its directors, which challenged the distribution of dividends and obtainment of loans.

Partner Communications (commercially branded as "Orange") filed an objection to a motion to file a derivative suit against its directors, which challenged the distribution of dividends by Partner and loans obtained during the same period. Gornitzky & Co. responded to the petition on behalf of Partner, claiming that the petition for the approval of the derivative suit is based upon fundamental economic and legal errors, and should therefore be dismissed.

 

Partner Communications (Orange) is represented by Mr. Pinhas Rubin (Firm Chairman), Mr. Lior Porat (Partner) and Ms. Sagit Ohana-Livne (Partner).

March 8th, 2012

In a study conducted by "Globes" and Codex, Gornitzky & Co. was found to have one of the highest percentages of female partners amongst Israeli law firms.

In a study conducted by "Globes" and Codex, Gornitzky & Co. was found to have one of the highest percentages of female partners amongst Israeli law firms.

 

The study, administered in honor of International Women's Day, found more women are being promoted in Israeli law firms, with an overall 3% rise in promotion. Gornitzky & Co. number of female partners in the firm is currently holding at 26%.

 

January 31st, 2012

Gornitzky & Co. represented Mr. Yitzhak Tshuva in the settlements reached with the majority of Delek Real Estate Ltd.'s bondholders regarding a NIS 2.1 billion debt restructuring.

Gornitzky & Co. represented Mr. Yitzhak Tshuva in the settlements reached with 72% of Delek Real Estate Ltd.'s bondholders regarding a NIS 2.1 billion debt restructuring.


Settlement agreements were reached between 72% of Delek Real Estate Ltd.'s bondholders and the company's controlling shareholder, Mr. Tshuva. According to the outline, the existing bonds will be nullified and replaced by two new series of bonds to be issued for a period of 16 years. Tshuva will infuse a total of NIS 1.3 billion to the new series.

 

Mr. Tshuva was represented by Mr. Pinhas Rubin (Firm Chairman) and Mr. Ofer Tzur (Partner, Head of Litigation).

December 21st, 2011

Gornitzky represented Cabaret Security Ltd. and Arba One Inc., two of the main selling shareholders in the $40 million financing of Cyber-Ark Software Ltd.

Gornitzky represented Cabaret Security Ltd. and Arba One Inc., two of the main selling shareholders in the $40 million financing of Cyber-Ark Software Ltd.

 

The transaction involved a USD 40 million joint investment in Cyber-Ark by JVP (one of Israel's prominent VC funds) and Goldman Sachs, in a combination of a primary (issuance) and secondary (purchase from existing shareholders) stock transaction.

 

As of the closing of the financing round, Cyber-Ark's shareholders are JVP, Vertex Venture Capital, Goldman Sachs, JPMorgan Chase Partners, Cabaret Security Ltd. and Arba One Inc., Softbank Ltd. affiliate Seed Capital Partners, and Nochi Dankner-controlled IDB Development Corp. Ltd.

 

The team handling the representation included Chaim Friedland (Partner), Avner Finkelshtein and Yisrael Spero.

October 11th, 2011

Gornitzky & Co. represented Ketura Sun, a subsidiary of Arava Power Company Ltd. (of the Siemens group) in obtaining a permanent production license for a solar field, the first license of its kind to be granted in Israel.

Gornitzky & Co. represented Ketura Sun, a subsidiary of Arava Power Company Ltd. (of the Siemens group) in obtaining a permanent production license for a medium-sized solar field, the first license of its kind to be granted in Israel.

 

The Public Utility Authority granted Ketura Sun's facility the country’s first permanent production license for a solar field, following 11 other provisional licenses that were granted to Arava Power Company. The sum of investments in these energy projects is approximately USD 300 million.

 

Mr. Jack Smith (Partner) and Ms. Hagar Alon-Windman (Partner) led the representation.

September 27th, 2011

Gornitzky & Co. was ranked in the third place among Israeli law firms in Globes' "Best Workplaces 2011". The list, which is based on questionnaires sent to 18,000 lawyers, was announced earlier this week

Gornitzky & Co. was ranked in the third place among Israeli law firms in "Best Workplaces 2011" by Globes, a prominent Israeli business newspaper. The list is based on a survey in which approximately 18,000 lawyers were asked to rank the most desirable law firms to work for. When asked the reason for their selection, most of the survey respondents replied that the firm's reputation is, by far, the most important factor when considering which law firm to work for.

September 22nd, 2011

Gornitzky & Co. represented the underwriters, led by JPMorgan, Credit Suisse and Barclays, in the secondary public offering of Mellanox Technologies Ltd. on the NASDAQ.

Gornitzky & Co. represented the underwriters, led by JPMorgan, Credit Suisse and Barclays, in the secondary public offering of Mellanox Technologies Ltd. on the NASDAQ.

 

Mellanox Technologies Ltd., dually traded on the NASDAQ and the Tel Aviv Stock Exchange, conducted a secondary public offering of its shares on the NASDAQ in September 2011. The underwriters, led by JPMorgan, Credit Suisse and Barclays, were represented by Gornitzky & Co. and White & Case, LLP. The aggregate net proceeds from the offering were approximately USD 105 million, making it the second largest SPO of an Israeli company on the NASDAQ in 2011.

 

Gornitzky's representation of the underwriters was led by Mr. Chaim Friedland (Partner) and Mr. Ari Fried (Partner).

June 26th, 2011

Gornitzky & Co. represented O.P.C. Rotem Ltd. in signing a USD 2 billion PPA (power purchase agreement) with several companies of the Azrieli Group, including Supergas, the Palmachim desalination plant and G.E.S. Ltd

Gornitzky & Co. represented O.P.C. Rotem Ltd., an Independent Power Producer owned by Israel Corporation Ltd. (TASE: ILCO), in signing a USD 2 billion power purchase agreement with several companies of the Azrieli Group, including Supergas Israel Gas Distribution Co. Ltd., the Palmachim desalination plant and G.E.S. Global Environmental Solutions Ltd. The agreement states that O.P.C Rotem Ltd. will provide electricity to the Azrieli Group for 10 years starting in 2012. The agreement is estimated to be worth USD 1 billion, and may reach a value of USD 2 billion.

 

O.P.C. Rotem Ltd. is in the process of developing a 440 MW gas fired IPP in Israel, which is intended to be the first in Israel of such scale. Such power purchase agreements negotiated and executed with a variety of electricity purchasers are groundbreaking in the Israeli market.

 

The team handling the representation included Mr. Jack Smith (Partner) and Mr. Moshe Krieger.

June 11th, 2011

Gornitzky & Co.'s Chairman, Mr. Pinhas Rubin discusses the new Administrative Enforcement Act by the Israel Securities Authority (ISA), saying that it might result in the regulator becoming too aggressive.

Gornitzky & Co.'s Chairman, Mr. Pinhas Rubin discusses the new Administrative Enforcement Act by the Israel Securities Authority (ISA), saying that it might result in the regulator becoming too aggressive.

 

So long as the regulator acts reasonably, Mr. Rubin believes that the new law is good and will result in less criminal proceedings. However, Mr. Rubin raised the concern that the ISA might be too aggressive while implementing the law, "The regulator begins his appointment at the ISA with intellectual modesty, but through the years the modesty becomes arrogance. The regulator is certain that he knows the law better than others and believes that he operates correctly, since everyone does as he commands."

April 18th, 2011

Four of the Firm’s lawyers, Yaron Alhawi, Shlomo Cohen, Daniel Paserman and Inbal Zackai-Horev, were named among Israel's most promising lawyers by Maariv, which also named Gornitzky's Chairman, Mr. Pinhas Rubin, as one of Israel's senior lawyers today

Four of the Gornitzky & Co.’s lawyers were named among Israel's most promising young lawyers by Israeli newspaper Maariv, in an article attempting to foresee Israel's future top lawyers in different practice areas.

Mr. Yaron Elhawi (Partner) and Mr. Shlomo Cohen (Partner) were named as leading real estate lawyers - the article stated that Mr. Cohen is ”only 36 years old and already considered to be one of Israel's leading lawyers in the field of real estate. He coordinates the representation of the Ofer Brothers Group in their real estate business.

Mr. Daniel Paserman (Partner) was described as one of Israel's top three young M&A lawyers. Mr. Paserman divides his time between international M&A's, creative and unique tax planning and leading the Firm's private equity practice. The article stated that Mr. Paserman consults clients such as the Tshuva Group, the Habas Group, the Steinmetz Group, the Phoenix Group and Comverse Ltd.

Ms. Inbal Zackai-Horev was described as a promising capital markets lawyer who is expected to reach new heights in the foreseen future.

Among Israel's current senior lawyers, the article named Gornitzky & Co.'s Chairman, Mr. Pinhas Rubin.

January 16th, 2011

Gornitzky & Co. represented OPC Rotem and its sponsors, Israel Corporation and Dalkia Israel Ltd, in a project financing transaction of approx. NIS 2 billion.

Gornitzky & Co. represented OPC Rotem, a private company, and its sponsors, Israel Corporation (TASE: ILCO) (80%) and Dalkia Israel Ltd (20%), a subsidiary of Veolia Environment SA (NYSE: VE), in a project financing transaction from a syndicate comprising of banks and institutional lenders, led by Bank Leumi Le-Israel B.M., for the development and construction of a 440 megawatt private (B.O.O) power plant in Israel in a total estimated investment of NIS 2 billion.

 

The transaction was led by Jack Smith (Partner) and Idan Baki (Partner).