introducing howard kennedy israel team

introducing Howard Kennedy Israel Team

Key FactsThe Firm Howard Kennedy is a leading London law firm offering a full range of services and expertise across a wide range of sectors.

Our clients need trusted advisers for their business and personal life cycle events. We listen to their aims and ambitions, consider potential options available and create legal solutions tailored to their individual needs. We offer business acumen and plain speaking advice.

Our International Reach Over 25% of our revenue comes from outside the UK: we have significant experience advising within the regions of the Middle East, Asian Sub-Continent, Far East, Western Europe and the US.

Howard Kennedy has an historic, dedicated Israel Team with strong connections to, and an in-depth knowledge of, the Israeli and UK markets and sectors. We offer our Israeli clients: high net worth individuals, entrepreneurs and corporates, focused commercial advice spanning the firm’s disciplines from corporate to real estate, dispute resolution to private client and family.

In particular, we have acknowledged expertise in advising overseas companies seeking to raise capital on the London Stock Exchange, and in advising Israeli clients on purchasing or funding real estate in the UK and Western Europe.

Our People Partners 74 Consultants 22 Other fee-earners 121 Support staff 125 Total 342

UK Ranking 66th by Revenue (The Lawyer UK 2014)

Our Heads of DepartmentCorporate Ashley Reeback

Capital Markets Keith Lassman

Financial Services Daniel Tunkel

IP & Commercial Robert Lands

Real Estate Paul Springall

Julian Hindmarsh Employment Carolyn Brown Dispute Resolution Craig Emden

Private Client & Family Liz Palmer

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Our Sectors Representative clients

Real Estate

BankingFinancial ServicesCapital MarketsVCT

Retail and Hospitality

Media and Creative Industry

Ballymore GalliardArdmore FairviewBerkeley Homes First Base

Santander InvestecRoyal Bank of Canada Julius BaerShore Capital Corporate Resource Octopus Services Inc.

Pizza Hut Sunglass HutKooples MonsoonGraff Diamonds PandoraCartier Yoo HotelsMarriott

NY Times Express NewspapersBloomberg Guardian

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Our connections with IsraelAccording to the World Bank, Israel’s GDP in 2014 was $305 billion; larger than 19 of the members of the European Economic Area.

There are major market opportunities and growing demand in Israel for expertise in capital markets, real estate finance and financial services, all of this requiring English law input. There will also be cases where Israelis and Israeli businesses need to litigate or resolve disputes subject to English jurisdiction.

The strong connections that the firm maintains with Israel give us a true understanding of the Israeli market and the way in which it continues to develop. Most members of the Team have residences in Israel and frequently visit, with one of our partners permanently resident. Members of the team are fluent in both Hebrew and Arabic.

Our clients include: Israeli banks, financial advisers, investment funds, crowd-funders, real estate investors, developers and finance companies, family offices and high net worth individuals. We also work with many of the leading Israeli law and accountancy firms on international matters.

Our breadth of expertise across the full range of UK legal services allows us to provide tailored holistic solutions for all the business and personal legal needs of our Israeli clients.

How we can help:

• capital raising on AIM and the London Stock Exc hange Main Market

• opportunities for private capital raising

• financial regulation

• structuring and promotion of investment funds

• real estate investment, development and finance

• setting up business in the UK

• tax planning, succession and wealth structuring for high net worth individuals and family offices

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Keith LassmanPartner: Capital MarketsT: +44 (0) 20 3755 5561E: [email protected]

Keith is registered with the FCA to undertake sponsor activities.

Capital raising on AIM and the main market

AIM and the Main Market Over the last few years Israel has shown an increase in Capital Markets activities generally, and AIM flotation in particular. A number of Israeli owned businesses have floated on AIM recently.

Any company seeking to float in London requires the services of lawyers who are dedicated to the task and who empathise with the company, its directors and other advisers. The firm has experience acting for Israeli companies seeking admission to the London Markets: we introduce our clients to brokers, sponsors, nomads and other intermediaries at a level that suits their individual needs. We know how to keep the transaction efficient and competitively structured.

Private capital raising Many Israeli businesses seek finance at a point in their development where placement of the company into public ownership is premature. Each private equity transaction is unique and our understanding of the Israeli corporate position allows us to provide the best possible options.

The UK offers a variety of methods for raising finance which do not involve flotation. Some of these, like the Enterprise Investment Scheme, are tax-incentivised for UK investors.

Another option is crowd-funding. We advise on a number of UK and Israeli crowd funding platforms.

How we can help:

• Capital markets

• AIM

• Private capital raising

• Mergers, acquisitions and disposals

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Daniel TunkelPartner: Head of Financial Regulation & Funds T: +44 (0) 20 3755 5749E: [email protected]

Daniel is a Hebrew speaker.

Financial Regulation

The UK regulatory system is highly regarded worldwide for its sophistication and flexibility of approach. Israel’s own market is not yet as well developed. However, the Israeli private capital fund industry is in strong growth mode. Numerous Israeli investment houses, brokers and insurance companies are now looking to markets in Europe.

We understand the range of investment and commercial contracts governed by English law, in areas such as custody and administration, prime brokerage, payment services and investment placement. Venture capital entrepreneurs are using crowd-funding techniques to attract foreign capital into Israel. Israeli-managed investment funds (whether based in Israel or overseas) are subject to the Alternative Investment Fund Managers Directive (AIFMD), which calls for related advisory work.

Israeli financial institutions involved with over-the-counter derivatives work (e.g. foreign exchange) with counterparties in the UK will require advice on compliance with the European Markets Infrastructure Regulation (EMIR).

We have expertise in all aspects of the regulatory jurisdiction of the Prudential Regulation Authority and the Financial Conduct Authority in the UK and the relationships of various investment, banking, insurance, e-money, payments, mortgage, consumer credit and other entities with their regulators.

We work with non-UK clients setting up regulated businesses, or promoting investments in the UK. We also provide assistance to UK clients whose proposals to undertake financial business in Israel calls for Israeli regulatory advice.

How we can help:

• wealth and investment management

• brokerage and investment trading

• payment services and electronic money

• crowd funding solutions

• general advice on promotion of investments to retail and institutional investors

David GilinskyAssociate: Financial Regulation & FundsT: +44 (0) 20 3755 5469E: [email protected]

David speaks and writes fluent Hebrew and Arabic, and is seeking admission to the Israeli Bar.

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Laurence BegnerPartner: Real Estate FinanceT: +44 (0) 20 3755 5377E: [email protected]

Laurence is resident in Israel and has an in-depth understanding of both markets.

Real Estate Investment

We specialise in all forms of commercial real estate investment, supervising complex real estate investment transactions, and advising banks and building societies on real estate lending in the commercial real estate sectors.

Israeli investors are looking to invest in UK real estate and are taking advantage of current very favourable bank rates. Some of those investors are high net worth individuals from Israel who enter into joint ventures with British based real estate investors and benefit from their experience in the market.

Others are high profile Israeli based companies with no historical interest in investing in real estate and are looking for new opportunities in the real estate market of the UK. Most of this investment business is based in central London and its immediate surrounds.

We introduce clients to joint venture opportunities and, as well as those connected to the purchase, sale and development of quality properties. Our clients include private investment companies, real estate management companies and lending institutions.

We also advise Israeli residents who want to invest in the UK residential real estate market, including how best to structure and secure financing for high-profile real estate deals.

How we can help:

• real estate investment, development, finance and joint venture opportunities

• exploring the range of choices such as acquisition funding (asset and corporate), development funding, refinancing and restructuring and provide guidance on the most suitable investment vehicle

• day-to-day real estate management matters including agreements for lease, leases, surrenders and re-grants, lease renewals as well as all related permissive licences

• construction

• plot sales team on estate subdivision such as housing estates or shopping malls

• bespoke service for UHNW investors from overseas buying into the UK market

Charles MaxwellPartner: Real Estate T: +44 (0)20 3755 5806 E: [email protected]

Charles speaks fluent Hebrew and acts for a wide variety of Israeli real estate investors looking to invest in the UK real estate market.

Setting up business in the UK

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Howard GouldenPartner: EmploymentT: +44 (0) 20 3755 5477E: [email protected]

Howard is the firm’s first point of contact for international businesses establishing themselves in the UK.

We are frequently asked to advise Israeli individuals and businesses on the practical steps required to establish themselves in the UK market. Although there are themes common to many situations, no two are alike. To decide on the best corporate structure to use, we ensure that we fully understand and appreciate your overall goals. We can help you to decide the route to take and guide you through the process. We offer strategic and commercial advice with a view to achieving a practical and commercial outcome. And for our Israeli clientele, this is assisted by our familiarity with the Israeli market and with the sort of issues that Israelis regard as paramount.

Our client base includes entrepreneurs, senior executives and employees drawn from many industries and sectors, including financial services, professional services, retail, media, hi-tech and software, recruitment and sport. We also assist international clients who wish to set up business in the UK, whether starting up an enterprise from scratch, establishing a joint venture or acquiring an existing business.

If you are setting up business in the UK, or buying (or buying into) an existing UK business, we can assist.

How we can help:

• optimal business or corporate structures

• premises rentals and purchases

• IT licensing, distributing arrangements

• intellectual property issues

• corporate governance

• company secretarial services

• employees and immigration

• business reconstruction where businesses face commercial or financial difficulties (or to investors in distressed enterprises)

• personal and business tax planning

• capital raising and finance

We are involved with a number of Israeli-owned businesses that operate from the UK, and can deploy similar skills in reverse, when UK businesses want to commence the process of establishing trade relationships and business presence in Israel.

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High net worth individuals and families

Simon MalkielPartner: Private Client & FamilyT: +44 (0) 20 3755 5587E: [email protected]

Simon advises high net worth individuals and families regarding international tax and estate planning, succession and wealth protection.

Our highly-regarded private client team provides clear and practical advice to individuals and families seeking to safeguard their wealth and ensure its succession to future generations in a tax-efficient way.

Our clients include high net worth individuals, international family offices, offshore trustees and fiduciaries, international banks and other professionals.

We offer a bespoke personal service to help our clients achieve their goals and objectives, working together with their other professional advisers and our own international network of contacts to provide integrated workable solutions to complex family and tax issues.

How we can help:

• residence, domicile, immigration and nationality advice for those coming to or leaving the UK

• tax/estate planning and wealth structuring, including the use of offshore trusts and other structures for tax mitigation, asset protection and succession planning

• international succession issues for multi-jurisdictional estates

• preparation of tax-efficient wills and powers of attorney

• probate and estate administration

• post-death tax planning

• international trust and estate disputes

• structuring charitable giving and philanthropy

• family issues, including marriage and cohabitation (pre-nups, post-nups and cohabitation agreements), relationship breakdown (divorce and financial settlement) and children (adoption, surrogacy, international child abduction and children disputes)

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Recent Experience

• Advising several Israeli companies in relation to certain current and prospective AIM flotations

• Advising a world-leading Israeli machine tools manufacturer on its distribution joint venture with a UK corporate

• Advising OurCrowd, the world’s largest crowd fund business, based in Jerusalem, on access to the UK and EU investment market place

• Advising an Israeli family office on its disengagement from a complex real estate co-ownership arrangement in the UK

• Advising an Israeli multi-family office on its advisory relationship with a major UK-based client

• Providing UK regulatory advice over many years to the UK subsidiary of State of Israel Bonds

• Two current transactions for Israeli investors involving UK commercial real estate being converted for residential use. Combined £20m value

• Advising the London branch of an Israeli bank on ISDA documentation and EMIR compliance

• Representing a party to a contested English will, the validity of which has a major bearing on the client’s entitlement to substantial real estate in Israel that is itself the subject of an Israeli will

• Restructuring a group of offshore trusts to mitigate the effects of changes to the Israeli trust tax legislation.

No.1 London Bridge London SE1 9BGDX 144370 Southwark 4

Tel: +44 (0)20 3755 6000 Fax: +44 (0)20 3650 7000

www.howardkennedy.com

introducing howard kennedy israel team

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