Sullivan
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Biography

Tehila has considerable experience in relation to Chinese and Israeli law, as well as a deep understanding of the Chinese (Mandarin) language and culture. She has over 15 years’ experience in the Chinese market, managing the legal services provided to both Israeli companies doing business in China, and Chinese companies doing business in Israel. She also advises Chinese companies and investors in connection with their activities in Israel, as well as offers close professional support to Chinese companies in litigation proceedings in Israel.

In China, Tehila focuses on the establishment of companies, consulting and accompanying the negotiations in joint ventures in China, China-Israel cross-border transactions, Chinese foreign direct investment, international projects and investment, M&A, commercialization of technologies and general corporate counseling. She has broad experience in counseling Israeli, U.S., and global companies through all stages of M&A transactions, including due diligence in China, and routinely provides legal services to companies in the high-tech, technology, and life sciences sectors.

Tehila lectures before various forums in Israel and in China (including some of the top academic institutions) on the legal aspects of doing business in China, Chinese investments in Israel, doing business in Israel, and Israeli technology and innovation.

Education
  • Jiao - Tong University, Shanghai, China (C-MBA)
  • Jiao - Tong University, Shanghai, China
    • China Chinese Studies
  • Bar-Ilan University (LL.M.)
Bar & Court Admissions
  • Israel
Professional Qualifications
  • Mediator (Second Cohort), Shenzhen Qianhai International Commercial Mediation Center
Awards & Honors
  • The Legal 500 Israel, 2020
Languages
  • English
  • Hebrew
  • Mandarin
Viewpoints
All Viewpoints
SGX-Nasdaq Dual Listing Framework - Opening New Doors for East Asian Companies
On November 19, 2025, Singapore Exchange ("SGX") and Nasdaq announced a proposed "Global Listing Board" framework enabling companies to file a single prospectus acceptable to both Singapore and U.S. regulators. The initiative, backed by the Monetary Authority of Singapore ("MAS") as part of the broader SGX listing regime modernization, targets implementation by mid-2026, subject to final rulemaking. Eligibility and Framework Structure Qualifying Criteria: Companies with minimum market capitalizations of S$2 billion (approximately US$1.54 billion). Regulatory Uncertainty: Critical questions remain regarding the framework's structure and the rules that will be applicable. For example, it is unclear whether the system will mirror the existing Multijurisdictional Disclosure System ("MJDS"), which permits certain Canadian issuers to rely on Canadian disclosure rules as SEC registrants, or whether full SEC registration and Nasdaq standards will serve as the baseline for SGX dual-listed companies. Legal and Compliance Considerations Ongoing Dual Jurisdiction Obligations: Despite harmonized prospectus requirements, issuers are expected to remain subject to compliance obligations in both jurisdictions, including: Differing reporting cadences and governance requirements Separate regulatory interactions and oversight  U.S. Securities Law Exposure: Nasdaq listing subjects issuers to U.S. securities law liability, including class-action litigation risks, a significant consideration for Asia-based companies unfamiliar with the U.S. litigation environment . Disclosure Standards Alignment: MAS is pursuing complementary reforms to align SGX's disclosure standards with international (particularly U.S.) practices, though the full extent of SGX's acceptance of U.S.-style disclosures awaits final rule issuance. Strategic Benefits For qualifying technology, life sciences, and high-growth enterprises, the framework offers: Access to both U.S. capital market liquidity and Singapore's regional investor base Reduced legal, accounting, and underwriting costs through single prospectus filing Enhanced institutional and retail investor reach across multiple time zones  The Global Listing Board represents a potentially positive development for trans-Pacific capital access while maintaining regional listing presence. However, companies should await final regulatory guidance before making strategic decisions, given the substantial compliance and legal exposure implications inherent in dual-jurisdiction listings. To discuss how these developments may impact your U.S. capital markets strategy, please contact Sullivan partners David Danovitch (ddanovitch@sullivanlaw.com or 212-660-3060), Tehila Levi Lati (tlevi@sullivanlaw.co.il or +972 74 7580480) or Eric Victorson (evictorson@sullivanlaw.com or 212-660-3092).
Key Changes in China's Company Law which is Reshaping the Business Landscape for Foreign Investors, including Retroactive Implications
The amended Company Law of the People's Republic of China (“the New Company Law”) was adopted by the National People's Congress of China and published on December 29, 2023, effective on July 1, 2024. This new legislation brings forth a host of transformative changes that will change companies’ operation in China and also will have a strong effect as they will be effective also retroactively. The Revival of Registered Capital Contribution Timeline Under the original Company Law, the shareholders may decide by themselves the time to contribute the capital contribution through company's articles of association without mandatory rules under the law. However, before that there was a deadline obligation for registered capital within 2 years after the company’s establishment. The new change stipulates a clear deadline for the capital contribution: For a limited liability company by equity, each shareholder shall contribute the amount of capital subscribed by the shareholder in accordance with the provisions of the articles of association within five years from the date of establishment of the company, subject to the specific provision of laws etc. For a limited liability company by shares (public companies), the deadline for the payment of the share capital shall be the incorporation of the company.   The rule applies retroactively to companies established prior to the implementation of the New Company Law. Where they have a longer period of capital contribution, it shall be gradually adjusted to meet the requirement of the New Company Law; where the period of capital contribution or the amount of capital contribution is obviously abnormal, the company registration authority may, in accordance with the law, require it to make adjustments in a timely manner. The New Company Law places a greater responsibility on directors to verify shareholders' capital contributions. Shareholders who fail to contribute capital within the specified timeframe will face repercussions, including the loss of certain shareholder rights. Moreover, in cases where a company is unable to meet its financial obligations, the law empowers the company and its creditors to demand capital contributions even before payment is due. These measures promote financial integrity and safeguard the interests of all stakeholders. The law also assumes more Responsibility for Capital Contribution after an Equity Transfer: Transfer of equity with unpaid capital contribution which is not due: the transferee assumes obligation; if the transferee fails to contribute on time, the transferor shall bear the supplementary liability. Transfer of equity with due but unpaid contribution or undervalued contribution: transferor and transferee are jointly and severally liable, unless transferee was unaware or could not have known about the shortfall. Equity Transfers: Preemptive Rights and Procedures Equity transfer in limited liability companies no longer requires consent from non-transferring shareholders when transferring to non-shareholder parties. A preemptive right exists, with notice provided to other shareholders. Failure to respond within 30 days waives preemptive rights. Written notification to the company is required to update the register of shareholders, granting transferees full shareholder rights. Limited Liability of the Legal Representative China's Amended Company Law has expanded the eligibility for the position of legal representative, allowing any director or general manager who handles company affairs to serve in this role. In case of resignation, a new legal representative must be appointed within 30 days. The company bears the legal consequences of the representative's actions, and restrictions on their powers cannot be invoked by third parties. Personal liability may be incurred for negligence. Director Changes: Resignations, Decision-Making, and Compensation Under the amended law, directors must provide written notice of resignation, with the resignation taking effect upon receipt by the company. Resigning directors continue their duties until a replacement is appointed, if fewer than three directors remain. Small limited liability companies can have a single director with board powers. Dismissed directors may claim compensation if the termination lacks a legitimate reason. Board resolutions require a majority vote. Flexibility for General Managers: Delegated Duties The amended law removes the statutory duties of general managers, enabling their responsibilities to be determined in the company's articles of association or delegated by the board of directors. This change offers greater flexibility in defining the scope of the general manager's role. No Mandatory Supervisor Under the New Company Law, limited liability companies that are small in size or have a small number of shareholders are no longer required to have supervisors. Instead, they have the option to establish a Board of Directors audit committee as a substitute.

Tehila Levi Lati

Tehila has considerable experience in relation to Chinese and Israeli law, as well as a deep understanding of the Chinese (Mandarin) language and culture. She has over 15 years’ experience in the Chinese market, managing the legal services provided to both Israeli companies doing business in China, and Chinese companies doing business in Israel. She also advises Chinese companies and investors in connection with their activities in Israel, as well as offers close professional support to Chinese companies in litigation proceedings in Israel.

In China, Tehila focuses on the establishment of companies, consulting and accompanying the negotiations in joint ventures in China, China-Israel cross-border transactions, Chinese foreign direct investment, international projects and investment, M&A, commercialization of technologies and general corporate counseling. She has broad experience in counseling Israeli, U.S., and global companies through all stages of M&A transactions, including due diligence in China, and routinely provides legal services to companies in the high-tech, technology, and life sciences sectors.

Tehila lectures before various forums in Israel and in China (including some of the top academic institutions) on the legal aspects of doing business in China, Chinese investments in Israel, doing business in Israel, and Israeli technology and innovation.

Viewpoints
All Viewpoints
SGX-Nasdaq Dual Listing Framework - Opening New Doors for East Asian Companies
On November 19, 2025, Singapore Exchange ("SGX") and Nasdaq announced a proposed "Global Listing Board" framework enabling companies to file a single prospectus acceptable to both Singapore and U.S. regulators. The initiative, backed by the Monetary Authority of Singapore ("MAS") as part of the broader SGX listing regime modernization, targets implementation by mid-2026, subject to final rulemaking. Eligibility and Framework Structure Qualifying Criteria: Companies with minimum market capitalizations of S$2 billion (approximately US$1.54 billion). Regulatory Uncertainty: Critical questions remain regarding the framework's structure and the rules that will be applicable. For example, it is unclear whether the system will mirror the existing Multijurisdictional Disclosure System ("MJDS"), which permits certain Canadian issuers to rely on Canadian disclosure rules as SEC registrants, or whether full SEC registration and Nasdaq standards will serve as the baseline for SGX dual-listed companies. Legal and Compliance Considerations Ongoing Dual Jurisdiction Obligations: Despite harmonized prospectus requirements, issuers are expected to remain subject to compliance obligations in both jurisdictions, including: Differing reporting cadences and governance requirements Separate regulatory interactions and oversight  U.S. Securities Law Exposure: Nasdaq listing subjects issuers to U.S. securities law liability, including class-action litigation risks, a significant consideration for Asia-based companies unfamiliar with the U.S. litigation environment . Disclosure Standards Alignment: MAS is pursuing complementary reforms to align SGX's disclosure standards with international (particularly U.S.) practices, though the full extent of SGX's acceptance of U.S.-style disclosures awaits final rule issuance. Strategic Benefits For qualifying technology, life sciences, and high-growth enterprises, the framework offers: Access to both U.S. capital market liquidity and Singapore's regional investor base Reduced legal, accounting, and underwriting costs through single prospectus filing Enhanced institutional and retail investor reach across multiple time zones  The Global Listing Board represents a potentially positive development for trans-Pacific capital access while maintaining regional listing presence. However, companies should await final regulatory guidance before making strategic decisions, given the substantial compliance and legal exposure implications inherent in dual-jurisdiction listings. To discuss how these developments may impact your U.S. capital markets strategy, please contact Sullivan partners David Danovitch (ddanovitch@sullivanlaw.com or 212-660-3060), Tehila Levi Lati (tlevi@sullivanlaw.co.il or +972 74 7580480) or Eric Victorson (evictorson@sullivanlaw.com or 212-660-3092).
Key Changes in China's Company Law which is Reshaping the Business Landscape for Foreign Investors, including Retroactive Implications
The amended Company Law of the People's Republic of China (“the New Company Law”) was adopted by the National People's Congress of China and published on December 29, 2023, effective on July 1, 2024. This new legislation brings forth a host of transformative changes that will change companies’ operation in China and also will have a strong effect as they will be effective also retroactively. The Revival of Registered Capital Contribution Timeline Under the original Company Law, the shareholders may decide by themselves the time to contribute the capital contribution through company's articles of association without mandatory rules under the law. However, before that there was a deadline obligation for registered capital within 2 years after the company’s establishment. The new change stipulates a clear deadline for the capital contribution: For a limited liability company by equity, each shareholder shall contribute the amount of capital subscribed by the shareholder in accordance with the provisions of the articles of association within five years from the date of establishment of the company, subject to the specific provision of laws etc. For a limited liability company by shares (public companies), the deadline for the payment of the share capital shall be the incorporation of the company.   The rule applies retroactively to companies established prior to the implementation of the New Company Law. Where they have a longer period of capital contribution, it shall be gradually adjusted to meet the requirement of the New Company Law; where the period of capital contribution or the amount of capital contribution is obviously abnormal, the company registration authority may, in accordance with the law, require it to make adjustments in a timely manner. The New Company Law places a greater responsibility on directors to verify shareholders' capital contributions. Shareholders who fail to contribute capital within the specified timeframe will face repercussions, including the loss of certain shareholder rights. Moreover, in cases where a company is unable to meet its financial obligations, the law empowers the company and its creditors to demand capital contributions even before payment is due. These measures promote financial integrity and safeguard the interests of all stakeholders. The law also assumes more Responsibility for Capital Contribution after an Equity Transfer: Transfer of equity with unpaid capital contribution which is not due: the transferee assumes obligation; if the transferee fails to contribute on time, the transferor shall bear the supplementary liability. Transfer of equity with due but unpaid contribution or undervalued contribution: transferor and transferee are jointly and severally liable, unless transferee was unaware or could not have known about the shortfall. Equity Transfers: Preemptive Rights and Procedures Equity transfer in limited liability companies no longer requires consent from non-transferring shareholders when transferring to non-shareholder parties. A preemptive right exists, with notice provided to other shareholders. Failure to respond within 30 days waives preemptive rights. Written notification to the company is required to update the register of shareholders, granting transferees full shareholder rights. Limited Liability of the Legal Representative China's Amended Company Law has expanded the eligibility for the position of legal representative, allowing any director or general manager who handles company affairs to serve in this role. In case of resignation, a new legal representative must be appointed within 30 days. The company bears the legal consequences of the representative's actions, and restrictions on their powers cannot be invoked by third parties. Personal liability may be incurred for negligence. Director Changes: Resignations, Decision-Making, and Compensation Under the amended law, directors must provide written notice of resignation, with the resignation taking effect upon receipt by the company. Resigning directors continue their duties until a replacement is appointed, if fewer than three directors remain. Small limited liability companies can have a single director with board powers. Dismissed directors may claim compensation if the termination lacks a legitimate reason. Board resolutions require a majority vote. Flexibility for General Managers: Delegated Duties The amended law removes the statutory duties of general managers, enabling their responsibilities to be determined in the company's articles of association or delegated by the board of directors. This change offers greater flexibility in defining the scope of the general manager's role. No Mandatory Supervisor Under the New Company Law, limited liability companies that are small in size or have a small number of shareholders are no longer required to have supervisors. Instead, they have the option to establish a Board of Directors audit committee as a substitute.