The Legal 500

Twitter Logo Youtube Circle Icon LinkedIn Icon

Yigal Arnon & Co

1 AZRIELI CENTRE, TEL AVIV 67021, ISRAEL
Tel:
Work +972 3 608 7777
Fax:
Fax +972 3 608 7724
Email:
Web:
www.arnon.co.il
Jerusalem, Tel Aviv, Tel Aviv

Israel

Banking and finance
Banking and finance - ranked: tier 2

Yigal Arnon & Co

Acting for prolific lenders and borrowers, Yigal Arnon & Co is involved in significant project finance mandates, and also has strength across the full range of crypto and fintech issues. Simon Weintraub and Shiri Shaham advised HSBC Bank and JP Morgan as mandated lead arrangers of the term loan facility for the financing of the Leviathan gas field and continues to assist the facility agent and security trustee with ongoing amendments. Conversely, the team acted for The Jewish Agency, as borrower, in relation to a NIS600m loan provided by Harel Group for the development of an elderly housing project. Further, the team has advised international lenders, including Silicon Valley Bank Financial Group and UBS, on lending transactions and various regulatory matters. Another key figure in the team is Yuval Shalheveth, who has expertise in derivative transactions and fintech. The team also handles a range of contentious banking matters, including debt recovery and banking litigation.

[back to top]

Capital markets
Capital markets - ranked: tier 1

Yigal Arnon & Co

The team at Yigal Arnon & Co is 'always accessible' and 'absolutely committed to getting a deal done'. By some clients' measure, the firm's service across a wide range of securities matters is 'second to none'. The group has advised Israeli corporates on debt and equity issuances domestically and abroad, and also has experience acting for international banks in relation to global debt offerings. Of particular note, Simon Weintraub advised China International Capital Corporation Hong Kong and Jefferies Hong Kong, as joint underwriters, on the IPO of Sisram Medical on the Stock Exchange of Hong Kong (SEHK), making it the first Israeli company to list on the SEHK. Further, Weintraub and Shiri Shaham acted for JP Morgan Securities, CitiGroup Global Markets, and HSBC Securities, as lead underwriters, in relation to a $2bn private placement by Delek & Avner of senior secured notes to Israeli and foreign institutional investors. Another key figure is Daniel Marcovici, who has handled high-value domestic bond issuances for Nextcom Group, Ramot in the City, and Peninsula Group. Also recommended are Gil Oren and Assaf Mesica, who assisted Israel Natural Gas with its first listing for trading on the TASE.

Leading individuals

Shiri Shaham - Yigal Arnon & Co

[back to top]

Commercial, corporate and M&A
Commercial, corporate and M&A - ranked: tier 1

Yigal Arnon & Co

Yigal Arnon & Co is best known for hi-tech deals, where its corporate team is 'well suited to larger technology companies and growth companies'. In a standout matter, Barry Levenfeld acted for Mexican public company Mexichem in relation to its $1.5bn acquisition of Netafim. Also of note, David Schapiro and Eliran Furman are advising SteadyMed on its reverse triangular merger transaction with United Therapeutics Corporation in aggregate value of approximately $216m. Additionally, Orly Tsioni assisted the shareholders of Brack Capital Properties with its $302m sale of control in the company to Redzone Empire Holding. Also recommended is Barak Platt, who in 2017 was involved in the largest-ever M&A in the Israeli hi-tech space. The practice group was further strengthened in 2019 following its merger with Weinstock-Zecler & Co, which brought to the team Gidon Weinstock and Micki Shapira.

[back to top]

Competition/antitrust
Competition/antitrust - ranked: tier 1

Yigal Arnon & Co

In 2019, Yigal Arnon & Co significantly strengthened its antitrust capabilities through its merger with Weinstock-Zecler & Co, which brings to the team Niv Zecler, a stalwart of the Israeli antitrust market. Zecler's team successfully represented Super-Pharm before an antitrust tribunal in proceedings that followed an investigation of certain exclusivity clauses in the client’s commercial contracts, and also jointly representing a client in relation to unprecedented fines being imposed by the Israel Antitrust Authority (IAA) concerning the client’s alleged abuse of market position. A key figure in the team is Ronit Amir-Yaniv, who is representing Minrav Group and its CEO in criminal proceedings for alleged restrictive trade practices that took place during the Gaza War of 2008. In addition, the team is acting for Ashdod Port Company in proceedings arising out of the regulator's decision to declare the client a monopoly and impose administrative fines upon the company and its directors. Also recommended is Shani Rapoport, who advised CVC Group on its merger notice and request for exemption of a restrictive arrangement in relation to its acquisition of Teva's worldwide portfolio of women's health products. The team is also representing a number of Israeli bakers in a class action suit for an alleged restrictive arrangement following an investigation by the IAA.

Leading individuals

Niv Zecler - Yigal Arnon & Co

[back to top]

Dispute resolution: class actions
Dispute resolution: class actions - ranked: tier 1

Yigal Arnon & Co

Yigal Arnon & Co handles a range of consumer, securities, and data and privacy class actions for international tech and retail companies, and many of the largest players in Israel's financial services sector, including banks, investment houses and insurance companies. Of particular note, Barak Tal and Ruth Loven represent Google and its subsidiaries in a multitude of class actions concerning data protection. The team is often instructed by companies' directors and board members, and recently represented the board of IDB Development Corporation and the directors of Africa Israel Group in separate securities class actions. Tal and Loven have also handled securities class actions for major investment houses, including Altshuler Shaham, and Tal and Nir Rosner are representing Deloitte Brightman Almagor Zohar in a class action concerning an accountant's obligation to a company's bondholders in the preparation of the company's financial reports. In addition, a team including Dror Varsano has advised Unilever and its subsidiaries on a wide range of consumer class actions. The department also handles antitrust follow-on class actions.

Leading individuals

Barak Tal - Yigal Arnon & Co

Next Generation Partners: Dispute resolution: class actions

Ruth Loven - Yigal Arnon & Co

[back to top]

Dispute resolution: local litigation and arbitration
Dispute resolution: local litigation and arbitration - ranked: tier 2

Yigal Arnon & Co

Yigal Arnon & Co's service is characterised by 'a level of professionalism that exceeds that of many of its competitors'. The litigation group in particular has been recognised for its 'client-focused approach' and 'extensive legal knowledge'. Barak Tal in particular is 'brilliant'. Tal represents three of Israel's largest banks and one of the largest domestic credit card companies in a variety a disputes, including high-value derivative claims. Similarly, the team, which includes Daniel Abarbanel and Dror Varsano, has handled derivative actions for clients including Bezeq, El Al Israel Airlines, AFI Group and all of Israel's major insurance companies. The group also handles high-stakes ADR, which has included representing the Ministry of Finance, the Ministry of Transportation and the Jerusalem Municipality against CityPass in a series of claims totalling over NIS2bn. Also recommended is Ruth Loven, 'a masterful tactician and a tireless worker'; Loven acted for OJSC VTB Bank in a case that reached the Supreme Court regarding foreign judgment enforcement and collection proceedings in Israel. Other key clients include major sports retailers such as Puma Sports Israel and Nike Israel, and global technology groups such as Microsoft Corporation and Symantec.

Leading individuals

Barak Tal - Yigal Arnon & Co

Next Generation Partners: Dispute resolution: local litigation and arbitration

Ruth Loven - Yigal Arnon & Co

[back to top]

Employment
Employment - ranked: tier 3

Yigal Arnon & Co

The employment team at Yigal Arnon & Co has extensive experience handling the employment aspects of major cross-border M&A and liquidation procedures. Moreover, the team also handles general employment litigation and advises multinational corporates on the employment issues associated with the establishment and maintenance of Israeli operations. A key figure in the practice group is Ben Sandler, whom clients describe as 'exactly the kind of commercially minded lawyer that in-house counsel wants'. Sandler provides ongoing employment advice to international clients such as Avid Technology and Houzz. Also recommended is Shira Lahat, who advises Google on all of its ongoing employment and HR issues, and also assists the client with employment litigation.

[back to top]

Energy and infrastructure
Energy and infrastructure - ranked: tier 1

Yigal Arnon & Co

Yigal Arnon & Co is engaged by government bodies, project companies and contractors, and international lenders in the financing and development of some of the largest energy and infrastructure projects in Israel. Among the most active government-side counsel, the team, which includes Doron Tamir, is acting for the Ministry of Finance, Ministry of Transportation and the Municipality of Jerusalem in relation to all aspects of the Jerusalem Light Rail network. In addition, Tamir and Oren Roth are advising NTA Metropolitan Mass Transit System on the tendering for the design and construction of the Light Rail Transit project in Tel Aviv. On the lender side, Shiri Shaham and Simon Weintraub acted for JP Morgan and HSBC in relation to the provision of a $1.75bn term loan to finance the development of the Leviathan gas field. The team also advised JP Morgan Securities, CitiGroup Global Markets and HSBC Securities USA, as underwriters, on a series of project bond issuances in connection with the Tamar gas field, with an aggregate value of $2bn. Also recommended are Micha Tollman and David Schapiro, who are advising a consortium led by Shapir Civil & Marine Engineering on the construction of a new port in Haifa. The government-focused group was further strengthened in 2019 by its merger with Weinstock-Zecler & Co, which brought Ayelet Simon-Vekslar to the practice group.

[back to top]

Healthcare and life sciences
Healthcare and life sciences - ranked: tier 1

Yigal Arnon & Co

Yigal Arnon & Co brings together a very strong corporate practice and a highly specialised IP team to advise clients in the pharmaceutical, medical device and biotech sectors on a range of IP matters, inbound and outbound licensing, and complex M&A and cross-border investment transactions. Yoheved Novogroder-Shoshan advises FutuRx, a joint venture comprising Johnson & Johnson, Takeda and Orbimed, on pharmaceutical licensing transactions with universities and research institutions worldwide. Novogroder-Shoshan also assisted Alyn Hospital with the establishment of its Innovation Space. Also of note, Barry Levenfeld assisted with the formation of MEDX XELERATOR, a state-sponsored medical devices incubator, and provides the client with ongoing advice regarding commercialisation and arrangements among its partners and investors. Moreover, the firm's corporate team has been involved in a number of cross-border transactions in the biotech and healthcare sectors, which included acting for SteadyMed, the target company, in a reverse triangular merger with United Therapeutics Corporation. Other key figures include Daniel Green and Eli Greenbaum.

Leading individuals

Barry Levenfeld - Yigal Arnon & Co

[back to top]

Hi-tech and start-ups
Hi-tech and start-ups - ranked: tier 1

Yigal Arnon & Co

Yigal Arnon & Co has developed an impressive reputation in the hi-tech market, where it advises clients ranging from Israeli start-ups to multinational giants on high-profile M&A and investment transactions. One key figure in the department is Barry Levenfeld, who advised Mexichem on the widely publicised $1.5bn acquisition of control in the Israeli drip irrigation technology company Netafim. Additionally, Levenfeld and Ben Sandler acted for IBM Corporation in relation to its acquisition of Israeli start-up Cloudigo. The team also has expertise acting on the side of the start-ups. David Schapiro and Eliran Furman advised Magicjack Vocaltec on the $143m acquisition by Nasdaq-listed B. Riley Financial of the client's entire share capital. Similarly, Barak Platt and Ezra Gross acted for Zooz Mobile, an Israeli e-payment company, in relation to its acquisition by PayU Global. The team has also handled significant M&A deals for Houzz, SteadyMed, and Electronic Arts.

[back to top]

Insurance
Insurance - ranked: tier 2

Yigal Arnon & Co

Yigal Arnon & Co provides comprehensive contentious and non-contentious commercial advice to all of Israel's major insurance companies. Further, the firm has invested heavily in its claims practice since 2016, when Yoran Gill joined the firm to expand its liability and tort litigation capabilities. Gill represents Migdal Insurance Company in a number of malpractice and professional negligence claims, and has also handled bodily and property damages claims for Harel Insurance Company. Additionally, Barak Tal represents a variety of domestic insurers and insured companies in commercial litigation, including class actions concerning insurance products and policies.

[back to top]

Intellectual property: commercial/transactions
Intellectual property: commercial/transactions - ranked: tier 2

Yigal Arnon & Co

Yigal Arnon & Co has strengths across the spectrum of commercial IP transactions, from domestic and international licensing deals to IP-driven M&A in a huge range of sectors, including fintech, medtech, telecoms and big data. Two key figures in the team are Yoheved Novogroder-Shoshan and Barry Levenfeld, who have assisted FutuRx with a number of commercial agreements, including licensing deals with universities in Germany, the US and South Korea. Novogroder-Shoshan also advised Oculis, a Novartis Venture Fund portfolio company, on licensing agreements with two academic institutions in Iceland. Also recommended is Daniel Green, who is acting for iPharma (Hong Kong), a joint venture formed by BioLineRx and a Chinese investor, in relation to an in-licensing transaction with Boehringer Ingelheim International. The team also has expertise in open source software and semiconductors, and Eli Greenbaum handles a range of commercial IP work for clients such as Autotalks. Further, Greenbaum has advised Minute on commercial IP deals with US sporting bodies, including NFL, MLB, NBA and PGA.

Next Generation Partners: Intellectual property: commercial/transactions

Eli Greenbaum - Yigal Arnon & Co

[back to top]

Investment and venture capital funds
Investment and venture capital funds - ranked: tier 2

Yigal Arnon & Co

Yigal Arnon & Co has 'deep expertise in the venture capital field', where it maintains an active investment practice and has experience with fund formation. Yarom Romem acted for clients including Hetz Ventures and AgriNation in relation to the formation of Cayman Islands venture capital funds. Further, the team assisted OurCrowd with the launch of Cognitiv, and is also advising the client on the creation of a Cayman Island fund that will be more attractive to otherwise jurisdictionally weary European investors. The team also acts for institutional investors such as Leumi Partners and Clal Insurance Company.

[back to top]

Planning and zoning
Planning and zoning - ranked: tier 1

Yigal Arnon & Co

Rated for its ability to 'stay atop the country's ever-changing zoning regulations', Yigal Arnon & Co has been involved in some of Israel's most iconic recent real estate developments. Aner Hefetz and Hagit Bavly are advising Idit Properties on the redevelopment of Atarim Square in Tel Aviv, and continue to act for Azrieli Group in relation to the expansion of the Azrieli commercial centre. Bavly is also assisting The Jewish Agency with issues such as building permits and the city plan for the development of over 2,500 housing units for the elderly. Also recommended are Asaf Eylon, Amalia Meshi, Adam Spruch and Hagai Shmueli, all of whom have considerable experience with large-scale residential and commercial projects, including urban renewals. In the urban renewal space, the team is engaged by developers including Ramot In The City and Rova 1.

[back to top]

Real estate and construction
Real estate and construction - ranked: tier 1

Yigal Arnon & Co

Yigal Arnon & Co is 'deeply familiar with the processes and decisions of the Israel Land Authority' and has 'the invaluable ability to predict any potential problems from the very earliest stages of a transaction'. The team has noted strengths in litigation, regulation and corporate real estate, and is engaged by some of Israel's most prolific real estate companies. In a large-scale mandate, Hagit Bavly is acting for The Jewish Agency in relation to an agreement with the State of Israel for the development of 2,650 residential units for the elderly, which is financed partly through a NIS600m loan from Harel Group. Also recommended are Amalia Meshi and recently promoted partner Naftali Nir, who are advising Azorim Construction on a litany of residential development mandates in connection with the government's Mechir Lamishtaken programme. Additionally, Meshi and Nir are acting for a joint venture between Ofer Brothers Engineering & Development and Azorim Construction in relation to the development of the Herzliya Hills project, which includes 600 residential units and an expansive commercial and business district. Other significant clients include JTLV Group, Apartment for Rent - The Governmental Company for Housing and Rental, and Azrieli Group. Hagai Shmueli, Asaf Eylon and Adam Spruch are also recommended.

Leading individuals

Hagai Shmueli - Yigal Arnon & Co

Hagit Bavly - Yigal Arnon & Co

[back to top]

Real estate: urban renewal
Real estate: urban renewal - ranked: tier 1

Yigal Arnon & Co

Yigal Arnon & Co has expertise in real estate development, land taxation, planning, finance and litigation, which it brings together to advise Israel's most active real estate developers on large-scale evacuate-rebuild and TAMA 38 projects. Amalia Meshi and Naftali Nir are advising Azorim Construction on a number of urban renewal projects, including a 680-unit development in Netanya and a 400-unit project in Giv'at Shmuel. Similarly, Hagit Bavly and Asaf Eylon are assisting Afikei Smadar with the development process of an urban renewal in Kiryat Gat, which will deliver 438 new apartments in four residential towers. Another key contact is Adam Spruch, who is acting for a private equity fund in relation to the development of over 30 urban renewal projects in central Israel. The team is also acting for Acro Real Estate in an urban renewal in Tel Aviv, involving the demolition of 72 apartments and subsequent construction of 162 units and a large underground parking structure.

[back to top]

Restructuring and insolvency
Restructuring and insolvency - ranked: tier 2

Yigal Arnon & Co

The team at Yigal Arnon & Co has experience across the spectrum of restructuring and insolvency-related matters, from debt arrangements and pre-bankruptcy proceedings to liquidation. The department is jointly headed by Amnon Lorch and Gil Oren. On the creditor side, Lorch is acting for Israel Discount Bank, the largest creditor of Eurocom Communications, in relation to the company's widely publicised insolvency, with debts over NIS1.8bn. Conversely, Lorch and Dror Vigdor were appointed by the Official Receiver to act for Israel Broadcasting Authority in connection with its liquidation pursuant to the the Public Broadcasting Law. Additionally, Oren served as one of three trustees for Globus Max and recently succeeded in selling the company's assets to Elco. Further, the team is acting for a group of unsecured lenders in relation to debt arrangements with Scorpio Real Estate, and also handles various customer insolvency matters for banks including Mercantile Discount Bank, Bank Mizrahi-Tefahot, and First International Bank of Israel.

[back to top]

Tax
Tax - ranked: tier 2

Yigal Arnon & Co

Yigal Arnon & Co has 'a professional and service-oriented' tax team, handling high-end corporate transactions as well as tax litigation. 'A creative and sophisticated lawyer', Eran Lempert has 'a brilliant mind for tax' and provides ongoing operational, transactional and tax structuring advice to major multinationals, including Oracle Corporation, Medtronic, General Electric Lighting, and Microsoft Corporation. Of particular note, the team advised two financial institutions, as underwriters, on the cross-border tax aspects of the first-ever listing of shares in an Israeli company on the Stock Exchange of Hong Kong. Additionally, Lempert has been representing foreign companies that are increasingly finding themselves the targets of ITA audits and tax disputes. Ofir Levy is another contact in the practice group.

[back to top]

Telecoms and media
Telecoms and media - ranked: tier 2

Yigal Arnon & Co

The team at Yigal Arnon & Co is perhaps best known for representing media content providers and Israeli telecoms operators in high-value disputes. A key figure in the department is Ruth Loven, who advises Google on a litany of matters, including alleged privacy violations, IP rights, freedom of expression and advertisements, and also helps represent the company in class actions and administrative proceedings. Also recommended is Ido Chitman, who represents clients such as Dalia Publishing and TALI - The Collecting Society of Film and Television Creators in Israel in various IP and licensing disputes. The team also handles a range of commercial litigation, insolvency mandates and derivative claims for telecoms operators, and has advised multinational technology and media groups, including IBM Corporation and Electronic Arts, on Israel-facing M&A.

[back to top]


Legal Developments by:
Yigal Arnon & Co

Legal Developments in Israel

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • INVESTMENT OPPORTUNITIES FOR HNWIs IN ISRAEL‚ÄôS HI-TECH ECOSYSTEM

    Accredited investor funding platforms for innovative tech scale-ups offer more choice and without having to commit a large chunk of capital upfront, the risk is diluted.
  • Perhaps the QuadragaCX Story Will Have a Happy Ending

    While there are the aficionados who will say that cryptocurrencies will free us of the chains of the global financial institutions, on the occasions when the world of cryptocurrencies intersects with the world in which most of us live, the news is generally bleak. While you may not know one side of a Bitcoin from the other, you probably know that its value has crashed over the last 13 months, you may even have heard about some of some of the larger cryptohacks (that is computer heists through which digital currencies belonging to investors are stolen from crypto trading exchanges). And over the last week or so, you may have read on mainstream news sites about the death of Gerald Cotton the CEO of Canada‚Äôs largest cryptoexchange QuadragaCX. The death of the CEO of a company that few had previously heard of, was news of course, because in his passing he had taken the passwords to the accounts of his customers with him. The result of this being that about $140 million of their money was stuck somewhere between this world and the celestial ether in which Mr. Cotton now resides. Of course, it wasn‚Äôt quite told like that. We were fed terms such as ‚Äúprivate keys,‚ÄĚ lack of ‚Äúmulti-signature protection,‚ÄĚ ‚Äúcold storage wallets‚ÄĚ and more readily understandable ‚Äď ‚Äúcryptofraud‚ÄĚ. Again!
  • Israel Chapter in The Virtual Currency Regulation Review

    Earlier this year, the Israel Tax Authority (ITA) issued two circulars, one on the taxation of digital tokens and the second addressing the taxation of utility tokens in initial coin offerings (ICOs). Additionally, in March, the Israel Securities Authority (ISA) released a detailed interim report by the Committee for the Regulation of Public Offerings of Decentralized Cryptocurrency Coins (Report) (with a follow-up report due to come out around October 2018). Moreover, it is expected that before the end of 2018, legislation will come into force that for the first time will see Israeli primary legislation define virtual currencies as financial assets and mandate licensing for related services, as is later discussed in detail.
  • Spring is coming for real estate registration in Israel

    Israel may be the ‚ÄúStart-up Nation‚ÄĚ and a world-renowned center of technological innovation, yet for many years the procedures and conduct of the Israeli Land Registry have been trapped in the past.
  • PLATFORMS FOR HIGH NET WORTH INVESTORS IN ISRAELI HIGH-TECH

    Israeli hi-tech and its sources of funding have grown and diversified tremendously since the bubble burst in 2001 and over the last decade since the height of the financial crisis in 2007-2008.
  • NONDISCRIMINATION IN 5G STANDARDS

    Nondiscrimination has been the neglected stepchild of the FRAND commitment. Patent owners participating in standards organizations typically commit to license their technology on ‚Äúfair, reasonable, and nondiscriminatory (‚ÄúFRAND‚ÄĚ) terms.‚ÄĚ
  • Crash Course on Non-Disclosure Agreements

    Non-disclosure agreements are a crucial, but often overlooked, tool in allowing startup companies to grow, build strategic partnerships and explore new business relationships necessary to develop their product or bring it to market. These agreements are often short (sometimes only a page or two) and lead many founders to forego legal advice to get past this "formality" and begin working with the other party to the NDA. Yet, NDAs are important agreements with potentially far-reaching implications for the protection of a company's confidential information and intellectual property, and mishandling of NDAs can come back to haunt a startup years later.
  • Advocates Eli Greenbaum and Ezra Gross of Yigal Arnon & Co. in The Lawyer Special Report editorial

    An interview-style piece in The Lawyer, Law in Israel: moving beyond tech, quoting Eli Greenbaum and Ezra Gross:
  • Publication of Adv. Adrian Daniel's Commentary in Private Banker International on GDPR & Blockchain

    Publication of Adv. Adrian Daniel's Commentary in Private Banker International on GDPR & Blockchain.
  • Article in MEA Markets on GDPR & Israeli Law

    GDPR & ISRAELI PRIVACY LAW - KEY DIFFERENCES Yoheved Novogroder-Shoshan & Miriam Friedmann of Yigal Arnon & Co. outline the key differences between GDPR & Israeli Privacy Law.  mea_markets_-_gdpr__israeli_law_-_key_differences_14.05.2018