Banking

Yigal Arnon & Co. represents Israeli and foreign banks, investment houses and other financial institutions. We provide them with legal and regulatory consulting in connection with banking and financial services and transactions. Our team consults on various aspects, including establishment of local branches by foreign banks and financial institutions, anti-money laundering, securities, financial instruments and structured products, derivatives, securities lending, licensing requirements for various financial services (credit, trusts, etc.) and more.  Representation of banks is at the core of our banking practice. We provide services to most banks in Israel, including with regard to financing transactions and general representation. Our firm also represents borrowers in complex financing transactions, including debt restructuring, and has helped clients with securitization processes. We also have a large Debt Management, Collection and Execution Group, with much experience in collection of problematic debts for the banks. Because of our key position in this sector, the firm’s name is associated with some of the largest, most critical transactions that have taken place in the country. For example, the firm represented one of the purchasers of the controlling interest in a recent sale of one of largest banks in Israel, several leading banks in the sale of their holdings in provident and mutual funds, and in distribution arrangements of pension products, as required in the wake of the 'Bachar Reform". We have also represented banks and institutional investors in sale and purchase transactions of loan portfolios, including through credit-linked capital notes and credit derivatives. The firm provides legal opinions and consultation to international organizations as well. For example, we provide all members of ISDA and ICMA, whose membership includes all leading banks and financial institutions in the world, with consultation regarding the collateral arrangements in derivative contracts that are based on the ISDA Master Agreement, securities repurchase agreements (repo) and securities lending.

Regulation

The firm assists banks, investors, institutional entities, private entities (business ventures and non-profit organizations) and controlling shareholders, interested parties and officers in these establishments, with all permits and licenses, analyzes the various requirements of applicable regulators and helps them create and adapt their procedures and documents to legal and regulatory demands.

Project Finance

Yigal Arnon & Co. is at the forefront of project finance in Israel. Our acquaintance and familiarity with the economic and legal interests of the key players, puts us in a position to pave the practical and effective way for the client to meet his needs. We have extensive project finance in infrastructure, electricity production, roads, light rails, water and sewage treatment and waste treatment. We have extensive experience working with government entities and agencies in the framework of tenders, international projects, project finance and privatization.  Our practice groups are proficient in private and public financing arrangements, including BOT (build-operate-transfer), PFI (public finance initiative) and BOO (build-own-operate). We have also represented the banking sector in several projects of this kind. The firm has also worked often with public authorities and the public sector, including permit processes, various applications as required to enable commercial activity, and involvement in the legislative process by drafting of bills for principal acts and subordinate legislation. We represent Israeli banks in claims and complex finance transactions and financial engagements with concessionaires. The firm has also frequently worked with foreign clients seeking to participate in commercial and other activity in Israel, and has gained stellar reputation for its work vis-à-vis the public sector.

For further information on Projects, Infrastructure and Energy

Banking Litigation

The firm represents Israeli and foreign banks, investment houses and international financial institutions in court, in arbitrations and before other tribunals, in all banking-related matters. Some of the special experience that we have acquired includes representation of banks in complex claims filed against them in various areas, including securities investment consulting; derivative and futures transactions; trading room services; interest and commissions; provision and freezing of loans and credit lines; preparation, management and liquidation of collateral; and more. The firm also represents banking corporations in legal proceedings instigated by various parties, such as clients, guarantors and collateral holders  including financial claims, collateral liquidation proceedings, proceedings arising from collection processes, proceedings in case of bad checks, etc.  The firm works with the banking corporations in insolvency proceedings of all kinds, including liquidation, protection against creditors and debt restructuring, asset liquidation and receivership, bankruptcies, etc., both where the bank initiates the process and where the bank is involved as a third party.  We have represented banking corporations in numerous class actions touching upon all aspects of banking services, including causes of action arising from: bank-client relationship such as commissions, interest and account management; implementation of regulatory instructions; and other consumer-related issues. The firm also represents banks, officers and shareholders in derivative actions pertaining to the management of the banking corporation.  We also provide services in litigation pertaining to ancillary facets of the banks’ work, such as claims regarding real and financial assets of the bank; copyrights and intellectual property; embezzlements and other unlawful actions against the bank or by its employees; etc.

Fintech – New Banking

Yigal Arnon & Co. is at the forefront of the global fintech revolution, as technology developed in Israel is acquired, used and developed by banks, financial institutions and high tech and technology companies at an ever-increasing rate. Companies including banks and financial institutions all over the world are updating their systems and adapting them to the 21st century in order to provide digital banking, clearing, e-commerce and financial services. The Banking, Finance and High-Tech departments at our firm are among the leaders in their field in Israel, providing top tier representation to all fintech clients, whose industry demands the expertise in numerous areas. The collaborative team work of attorneys from these departments enables them to provide professional, comprehensive, and complete solutions. Yigal Arnon & Co. represents Israeli and international banks and financial institutions and is well aware of their needs and how to address them, in light of the relevant legal frameworks within the banking, finance and fintech industries. We also represent a large number of fintech startups looking to expand to global markets, as well as traditional financial institutions interested in acquiring early stage Israeli tech companies. The firm has experience working with companies that provide a variety of solutions, such as: payment and clearing systems, financial information systems, Peer to Peer technology, crowd lending solutions, insurance technology, digital currency and blockchain, and other financial technology companies.

Cryptocurrency

Yigal Arnon & Co. has been among the first law firms in Israel to recognize the growing potential of Blockchain technology and its ability to disrupt traditional and new industries. By combining various fields of legal expertise and understanding of the technology and its application the firm provides legal counsel to a wide range of clients from early stage ventures to more established corporations and investors. With the rise of the use of cryptocurrencies, our team has provided legal counsel in various areas, such as initial coin offering (ICO), securities law, AML/KYC, formation of changes and exchanges, crypto-hedge-fund formation, tax and local regulation. The firm has been frequently contributing to this new space in corresponding with regulators, presenting in conferences, publishing articles and providing interviews to local and international audience.

 

Recognition

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