News

| Labor Law
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)

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.

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 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.

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).

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."

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.

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 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 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.   

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).

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.

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):

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):