FTC Issues Guidance on Marketing AI Products

Amid the recent wave of artificial intelligence (“AI“) hype in the context of various products, the Federal Trade Commission (“FTC“) has issued a guidance warning companies against overusing and abusing the AI term in marketing their products. In its guidance, the FTC notes that AI is an ambiguous term with many possible definitions, and warns […]

Proposed Changes in Real Estate Taxation under the Economic Efficiency Law

Dear clients, On Friday, February 24, 2003, the memorandum of the Economic Efficiency Law was published, which includes several proposals in the field of real estate taxation. In addition, the Government Decisions document was updated on the same day. Below are the main proposed amendments regarding real estate taxation in Israel: Relief for the activities […]

How to Comply with the EU Digital Services Regulatory Reform

Dear clients and friends, The EU Digital Services Act (the “DSA“), which will start to apply next February, will require businesses offering digital services in the European Union to comply with groundbreaking rules and responsibilities. In particular, the new requirements under the DPA will impose content moderation requirements, transparency and reporting obligations, protection from online […]

FINTECH WEEK TEL AVIV 2023

The annual gathering of the global fintech community We are thrilled to host at our Herzog Tower the Blockchain Summit, which is part of the Fintech Week Tel Aviv! Looking forward to meet fintech and blockchain entrepreneurs, investors, advisors and other crypto enthusiasts. 15 March 2023. Fintech Week Tel Aviv 2023 will take a deep dive into the […]

International payment service providers are provided access to Israeli payments systems

The Bank of Israel has issued a framework providing international payment service providers access to regulated payment systems in Israel Dear clients and colleagues, We would like to inform you that on February 28, 2023, the Bank of Israel has issued a framework providing international payment service providers access to regulated payment systems in Israel […]

Foreign Residents’ VAT Liability with respect to Importing Digital Services to Israel – New Memorandum of Law Published in the Context of the 2023-2024 Budget Talks

Dear friends and clients, We would like to update you about a new memorandum of law regarding the provision of online digital services that was published on February 15th, 2023 in the framework of the bill of Law for Economic Efficiency (Legislative Amendments to Obtain the Budgetary Goals for Budget Years 2023 and 2024), 2023. […]

Start Up – Arnona Down

Dear Clients, As one of our clients, we would be pleased to advise you and review your annual Arnona invoice, in order to explore opportunities of reducing them according to applicable law. Such a review can, in certain cases, significantly decrease the amount of the invoice. For example, according to the Arnona order issued by […]

The EU Cookie Banner Taskforce Key Takeaways

In January 2023, the European Data Protection Board (EDPB) adopted a report on the work undertaken by the Cookie Banner Task Force. The Task Force was established in accordance with the General Data Protection Regulation (GDPR), with the purpose of coordinating the response to multiple complaints concerning cookie banners which were filed with several EEA […]

Significant Proposed Change in Tax Litigation Proceedings in Israel – Taxpayers will have to Pay 30% of the Tax in Dispute upon Filing Tax Appeals in Court

Dear friends and colleagues, As part of the 2023-2024 budgetary legislation process, the Israeli Government published on February 16, 2023, a memorandum regarding a proposed requirement to pay 30% of the tax in dispute upon filing a tax appeal in court (the “Memorandum“). A similar legislative proposal, which eventually was not passed, was raised during […]

Herzog is a leading law firm in Israel

The prestigious Chambers rankings are out, and we are proud to be ranked in 15 practice areas! Banking & Finance Capital Markets Competition/Antitrust Corporate M&A Competition/Antitrust Dispute Resolution Dispute Resolution: Class Action (Defence) IT & Data Protection International & Cross-Border Capabilities Labour & Employment Projects & Energy Real Estate Startups & Emerging Companies Tax Transportation: […]

Urgent.ly Inc. acquires Otonomo Technologies

We congratulate our client, Urgent.ly Inc., for signing a merger agreement with Otonomo Technologies Ltd., an Israeli auto-tech mobility data company traded on Nasdaq (OTMO), pursuant to which, upon completion of the transaction, Urgent.ly will acquire Otonomo in consideration for Urgent.ly shares and Urgent.ly will be registered for trade on Nasdaq. Many thanks to everyone who worked on this case, our partners Nathan Wiesenberg, Nir […]

OpenWeb acquires a publisher tech firm for $100M

Congratulations to our client OpenWeb on its recent acquisition of Jeeng, a proprietary platform for audience management, for $100 million! The transaction was led by our partners Yair Geva and Nathan Wiesenberg, Lior Katz and associate Nesimyan Adawi. Special thanks go to our deal team members for their amazing work: partners Dr. Ehab Farah, Shachar Porat, Maayan Hammer-Tzeelon, Adar Bengom (Ortal) and Dan Shalev, and associates Zahava Moerdler, Niran Ferman, Roni Zis, Adi […]

Tel Aviv Young Arbitral Forum

The Tel-Aviv Arbitration Week is just around the corner! On Sunday, 26 February, the Tel-Aviv Young Arbitral Forum kicks off the events with a networking lunch at Herzog Tower followed by a stellar line-up of speakers discussing ethics in arbitration. Secure your spot >> register here  

These Uncertain Times: How War, Pandemic, and Economic Upheaval are Affecting the World of Commercial Relationships and Disputes

Hosted by Herzog, Skadden and Homburger 11:30 Registration and Buffet Lunch 12:00 Opening Remarks Speaker: Joseph (Yossi) Ashkenazi, Herzog Fox & Neeman, Tel Aviv 12:10 Presentation of Key Note Speaker, Moderator and Panelists Speaker: Gregory A. Litt, Skadden, Arps, Slate, Meagher & Flom, New York 12:20 Key Note Speaker Speaker: Dr. Roy Schöndorf, former Deputy […]

News for Global Funds Managers

Dear clients, The Israel Securities Authority (the “ISA‘) published a Q&A (the “Q&A“), following the publication of an updated circular for registered fund managers (including foreign fund managers) and trustees on the list of characteristic titles for the purpose of classifying funds (the “Publication“). While the Publication states that the updated list will come into […]

Global M&A- How to Get to the Finish Line in 2023

Valuations, Economic Downturn and Aborted Transactions. 22/02/2023 | Wednesday 9am-12:30pm | Herzog Tower, 6 Yitzhak Sade St Tel Aviv Please join us on February 22 for the Global M&A – How to Get to the Finish Line in 2023 seminar, co-hosted with DLA Piper and the ACC Israel. The seminar will focus on the state of […]

Collective agreement for Israel Railways

After 4 years of continuous negotiations in which we accompanied Israel Railways in front of the workers’ council and the workers’ union – we are pleased to announce that a very important collective agreement has been reached which will resolve the disputes between the parties. Over the years, we have acted with Israel Railways on […]

The Climate of Business and the Business of Climate

Join the conversation about the climate of business and the business of climate! What are the main trends expected in climate tech and carbon markets in the near future? What action can corporations take to achieve their climate goals? And how can governments and regulators support climate action in the business sector through incentives? These are some […]

“International Comparative Legal Guide – Environmental, Social, and Governance Law 2023”

We are pleased and privileged to announce that our firm has been selected to write the Israeli chapter in the prestigious Global Legal Group’s  “International Comparative Legal Guide – Environmental, Social, and Governance Law 2023”. Our team was led by partners Livnat Ein-Shay Wilder, Janet Pahima, Liat Maidler, and associate Nahum Mittelman. To read the Israeli chapter on the ICLG […]

$800 million Senior Bond Offering for Israel Discount Bank

Herzog acted for Citi, Barclays and Jefferies as underwriters of an $800 million senior bonds offering by Israel Discount Bank. This is the first international bonds offering for Israel Discount Bank and one of the largest offerings by an Israeli bank. The offering was led by Ron Ben-Menachem (capital markets), Nir Dash (capital markets), Mohammad Mawasi (capital markets), Irit Roth (banking), Dr. Ehab Farah (tax), and Fanny Elgrably (capital markets). A shout out to […]

American Express acquires 100% of the issued shares of Nipendo Ltd.

It is our pleasure to inform you that our client, American Express, has signed an agreement to acquire 100% of the issued shares of Nipendo Ltd., a company automating and streamlining business-to-business payment processes worldwide! We would like to thank our partners Yair Geva, Asaf Nahum, Shachar Porat, Maayan Hammer-Tzeelon, Amir Cooper, Ofer Granot, Dafna Amster Kahn and Tslil Bar Bainvol, as well as our associates Ben Pask, Dor […]

International $500 million green bonds offering

Herzog acted for Bank Leumi in its international $500 million bond offering. This is the first green bond offering by Bank Leumi and the proceeds (or an equivalent amount), will be used to finance green projects. This complex transactions required specialists from our capital markets, banking and tax teams. The transaction was led by Ron Ben-Menachem (capital markets), Nir […]

retrain.ai has been named one of Israel’s ten most promising startups!

Congratulations to our client, retrain.ai, for being chosen as one of the ten most promising startups in Israel based on the election of around 90 international and local VCs and for closing an additional $14 million investment round led by Radical Ventures. Retrain was established in 2020 and is a leading AI-driven Talent Intelligence Platform. From […]

Phoenix and Clal invest in Mayer Cars & Trucks

We would like to extend our congratulations to both of our clients, the Phoenix Insurance and Clal Insurance on each of their separate investments in Mayer Cars & Trucks, totaling in an amount of over NIS 800 million! As part of its investment, Clal will purchase 5.6% of Mayer Cars & Trucks in consideration for […]