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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

David Schapiro

Tel:
Work +972 3 608 7726
Email:
Yigal Arnon & Co

Work Department

Asia Practice Group, Banking and Financial Services, Capital Markets, Commercial Law, Corporate Finance, Environmental Law, Mergers and Acquisitions, Project Finance, Venture Capital and Private equity.

Position

David Schapiro has represented Israeli and international clients for the past 20 years in a diverse and sophisticated transactional practice. His experience includes representing domestic and foreign clients in implementing complex corporate transactions, including mergers and acquisitions, public and private financings and complex project finance transactions. David has facilitated the implementation of some of the largest transactions completed in Israel. David has repeatedly been selected as "One of the World's Leading Lawyers" by Chambers Global guide to law firms. Legal 500 lists him edition as a recognized Israeli expert in the fields of Corporate Finance, Mergers & Acquisitions, Project Finance and Securities. Global Counsel 3,000 recommends him as a "Leading Individual" (their highest category) for "Company and Corporate Transactions", and he is highly recommended by Practical Law Company in the fields of Corporate/M&A and Restructuring and Insolvency. Israel's Maariv newspaper, has profiled David calling him "one of the most valued high-tech lawyers in Israel and the world." He is quoted in Chambers Global guide as a "standout attorney who is quite able to think outside the box" It further describes him as being "credited with taking his firm into the most lucrative project finance areas and praised for his very strong commercial acumen. His dynamic flexibility in following the market is much appreciated." David's recent (2009-2014) prominent transactions include: Representing TowerJazz in an agreement with Panasonic Corporation to create a joint venture to manufacture semiconductor products - Representing TowerJazz (Tower Semiconductor) in the acquisition of Japan based fabrication facility from Micron Technology for $140 million - Representing the Israel Infrastructure Fund (IIF) in its acquisition of interests in Derech Eretz Highways (DEC), the concessionaire for the Highway 6 BOT project for 600-700 Million NIS - Representing Siemens AG in the purchase of all the outstanding shares of Solel Solar Systems Ltd. for $420 million. - Representing Tower Semiconductor Ltd. in the acquisition of Jazz Technologies in a stock-for-stock transaction. - Representing Taro Pharmaceutical Industries Ltd. in its $250 million sale to India based Sun Pharmaceutical Ltd and the associated global restructuring of Taro's $250 million of debt. - Representing a consortium bidder in a tender issued by the State of Israel for the finance, design, construction, operation, maintenance and transfer of a sea-water desalination facility at Sorek, with an option to construct a power plant. - Representing a consortium bidder in a Tender issued by Mekorot Development & Enterprise Ltd. for the design, building and supervision, on a turn-key basis, of a seawater desalination plant at Ashdod, with production capabilities of at least 100 million cubic meters per year. - Representing Israel’s largest Bank, Bank Hapoalim in an additional credit facility in a tender issued by the State of Israel for the expansion of the existing desalination plants. - Representing Francisco Partners in its purchase of ex Libris. - Representing Ohio based billionaire Clay Mathile in his purchase and restructuring of ooVoo. - Representing Shapir Fast Lane, the concessionaire in a BOT financing of the first demand based, fluctuating toll road in the world. - Representing Tower Semiconductor in a series of public and private financings and debt restructurings in connection with the continued ramp up of its Fab 2 semiconductor wafer fabrication facility. - Representing Texas Instruments in its purchase of assets from Comsys Communications. - Representing Bank Hapoalim, in its $250 million refinancing of Lumenis Ltd. - Representing buy-out fund, Fortissimo in its purchase of Crow Ltd. - Representing Healthcare Ltd. in the spin off of its diagnostic medical business and its purchase of NexGen, an ethanol producer. - Representing a global consortium bidding on Israel's largest BOT Project, the Tel Aviv Light Railway.

Career

David frequently writes for various well-known professional publications. He contributed the chapters on Israeli law for Privatisation & Public Private Partnership Review 2007/08 and for Corporate Governance and Directors' Duties 2007. David also co-authored an article on Public offerings for Investor, and an article on Private Equity and Venture Capital in Israel for the International Financial Law Review Guide to Private Equity and Venture Capital. David also lectures on issues related to corporate governance and financing at Israel's key conferences such as the Annual hi-tech conference, Journey, and other corporate finance forums. Prior to joining Yigal Arnon & Co. over 17 years ago, David practiced law in the Corporate Department of Fried, Frank, Harris, Shriver & Jacobson in New York between 1987 and 1990.

Languages

David is fluent in English and Hebrew.

Member

David was admitted to the New York Bar (U.S. District Court, Southern and Eastern Districts of New York and U.S. Tax Court) in 1988 and to the Israel Bar in 1991.

Education

David graduated with a B.A cum laude from Yeshiva University in 1984 and received his law degree magna cum laude from the Benjamin N. Cardozo School of Law of Yeshiva University in 1987, where he was a member of the Cardozo Law Review, a Belkin Scholar and an Alexander Fellow.


Israel

Capital markets

Within: Capital markets

Yigal Arnon & Co advises issuers and underwriters and has been increasingly active handling transactions on foreign exchanges. Shiri Shaham advised the lead underwriters on the first-ever planned IPO of an Israeli company on the HKEX. David Schapiro has expertise in cross-border securities transactions with the US. Gil Oren is another contact.

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Energy and infrastructure

Within: Energy and infrastructure

Yigal Arnon & Co has a broad infrastructure and energy practice, which acts for lenders, government entities and corporates (such as Siemens) involved in major infrastructure projects, project finance and development matters. Doron Tamir is advising major government ministries on Jerusalem’s Red Line and the Ashalim Power Station project. David Schapiro advises Israel Infrastructure Fund. Following its merger with Weinstock-Zecler & Co., the firm welcomed Ayelet Simon-Vekslar to the team.

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Legal Developments by:
Yigal Arnon & Co

  • 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’s 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’t quite told like that. We were fed terms such as “private keys,” lack of “multi-signature protection,” “cold storage wallets” and more readily understandable – “cryptofraud”. Again!
    - 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
  • 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’s 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’t quite told like that. We were fed terms such as “private keys,” lack of “multi-signature protection,” “cold storage wallets” and more readily understandable – “cryptofraud”. 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 “Start-up Nation” 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 “fair, reasonable, and nondiscriminatory (“FRAND”) terms.”
  • 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
  • Clarifications regarding Supervision of Financial Services Law (Regulated Financial Services)

    Authored by Adv. Simon Weintraub, Adv. Shiri Shaham, Adv. Yuval Shalheveth of Israeli law firm, Yigal Arnon & Co.: