News

| Kfir Yadgar
February 8th, 2018

Gornitzky represents Rimonim in a lease transaction worth over NIS 50 million. 

Gornitzky represented Rimonim hotels chain in a lease transaction worth over NIS 50 million, according to which Rimonim will manage and operate the Kedma Hotel, currently under construction near kibbutz Sde Boker in southern Israel. In the framework of the transaction, Rimonim will provide the owner, Neot Boker Ltd. (jointly held by private entrepreneurs and Kibbutz Sde Boker) with a NIS 10 million loan.

The hotel will be opened for the public towards the end of 2018, and will include approximately 140 rooms and suites. 

 

Rimonim was represented by Managing Partner Kfir Yadgar, Partner Yiftah Farber and Associate Dafna Sidkiyahu.

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).

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

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.

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

March 13th, 2016

Gornitzky represented IDB development Ltd. in a request to amend IDB holdings company’s creditors agreement

Gornitzky represented IDB development Ltd. In a request to amend IDB holdings company’s creditors agreement, to which the trustee of debenture “Tet” objected, claiming that the agreement would not solve the company’s financial problems in the next year. He therefore asked the company and the court to determine that in case the company would reach insolvency, the position of the creditors would be restored.

 

See full story (Hebrew)

 

IDB development Ltd.was represented by Pinhas Rubin (Firm Chairman), Kfir Yadgar (Partner) and Yair Shiloni (Partner)

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

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.

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 20th, 2017

Gornitzky represents the controlling shareholders of Platforma Marketing Communication Ltd.

Gornitzky represented the controlling shareholders of Platforma Marketing Communication Ltd. in a claim which was filed against them, for alleged minority oppression. At the end of the proceeding, which lasted for six years, the claim was fully dismissed. Unlike many oppression claims, the Court did not see fit to order a "separation of forces" between the shareholders in the company, despite the apparent crisis of confidence amongst the company's shareholders and despite the fact that the controversy led to additional legal proceedings. Moreover, dividends from the company's treasury were not distributed and a principle disagreement erupted over the identity of the Dircetor soon to be appointed. The Court remained undeterred by the events and dismissed the claim.

 

The company was represented by Kfir Yadgar (Managing Partner) and Associates Ehud Katzenelson and Inbal Ronel.

 

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

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).

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

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).

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.

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.

 

April 7th, 2015

Partner Kfir Yadgar discusses Environmental & Pollution Law in Israel

Partner Kfir Yadgar discusses Environmental & Pollution Law in Israel