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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)

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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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)

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 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): 

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.

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.

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.

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

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.

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)

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.

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.

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.

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.

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.