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Criminal Liability Arising from Consumer Protection Law Violations |
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By Adv. Yael Navon , Partner
When Renata
Kotwitz, an 85 year old woman, was visited by a person claiming to be a
certified beautician representing a respectable firm, she agreed to buy a line
of cosmetic products from her for several hundred US Dollars. After she applied
one of the products she had just bought, her face began to swell and her skin
turned red. She described the feeling as if her "face caught fire".
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New Amendments to the Israeli Companies Law |
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By Adv. Rachel Levitan and Adv. Moshe Abady
The Israeli Companies Law - 1999 (hereinafter: the Law), provides the framework according to which a company is permitted to indemnify its directors and officers.
The law also lists the cases in respect of which a company is permitted to purchase a D&O liability policy for its directors and officers.
These provisions are cognitive and cannot be stipulated against.
On 7th March 2005 the law was amended and various changes relating, inter alia, to insurance and indemnification of D&O’s came into force.
Another provision was amended in respect of piercing the corporate veil against a D&O of a company.
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Directors and Officers Liability: Key Israeli Issues |
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Statistics regarding D&O Liability in Israel, Main Aspects of the Companies Act Relevant to D&O Insurance, Piercing the Corporate Veil, Criminal Investigation & Proceedings Comparison between the Companies Act and the D&O Policy
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Directors, Officers and Managers Personal Liability in Israel |
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On 19th April 1999, a new Companies Law was enacted by the Israeli Parliament . This law entered into force on 1st February 2000 and replaced the Companies Ordinance - 1983 (hereinafter: “the Ordinance”).
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