About: lextal

LEXTAL provided legal guidance to an innovative digital asset platform Blocktrade in the successful launch of their new token BTEX, which has already raised over 5 million euros.

Blocktrade is widely recognised in the digital asset industry for its transparency, security, and user-friendly approach. Recently, the platform introduced its own token to offer enhanced value and benefits to both existing and future users. LEXTAL’s experienced attorneys played a vital role throughout the project, delivering consistent and comprehensive legal support.

LEXTAL partner and attorney-at-law Kristi Sild is an experienced expert in employment law. She explains how an employer is required to compensate for damages in the event of a work accident and how to declare the paid compensation.

Is compensation for a work accident always required to be paid to the employee (whether due to the employee’s negligence or the employer’s negligence)?

The employee is entitled to compensation for health damage caused by a work accident per the extent prescribed in the Law of Obligations Act (LOA § 14 (5) point 6). Generally, suppose the employer has violated their occupational health and safety obligations. In that case, the employee has the right to claim compensation for the expenses arising from the health damage and non-pecuniary damages resulting from the work accident. In a court dispute, the court also considers the employee’s contribution to the occurrence of the damage. Suppose the work accident occurred partially due to the employee’s negligence or disregarding safety measures (e.g., failure to use prescribed personal protective equipment). In that case, the court may reduce the compensation proportionally to the extent that these circumstances or risks contributed to the damage.

LEXTAL recently promoted an attorney at law, Ksenia Kravtšenko, to partner. Ksenia has done remarkable work as the Head of the International Private Law group at LEXTAL. She has also been acting as a representative for clients in civil and commercial litigation for years. In business law, her most prominent project has been the liquidation proceedings of Versobank, which provided her with unique experience in both legal and managerial aspects.

Please note that we are holding a hybrid seminar on 8th March 2023 on the new MiCA Regulation. Participation is free of charge but subject to prior registration – please register here.

The legislation concerning crypto-assets has always been fragmented between different states in the EU. Having a crypto exchange license in one EU country did not mean that it would be automatically legal to operate in another EU state as well. Whereas some countries like Estonia were the pioneers of crypto legislation, many others have been lacking behind and have further exacerbated this fragmented state.

The above is about to change. There will be a new EU regulation covering crypto-assets law in all EU Member States. The regulation is titled “MiCA” –­ Markets in Crypto-Assets Regulation. The regulation aims to create a uniform European legal framework for cryptocurrency services, including virtual currency service providers. MiCA will apply directly and uniformly in all Member States and will have a significant impact on the crypto market, dealing with licensing, the environmental impact of the crypto industry and the issuance of crypto-assets.

As of February the 1th this year, the Commercial Code will change, and the new Commercial Register Act will enter into force. Below, we present some aspects that current and future business owners should keep in mind.

• The minimum share capital requirement of 2500 EUR for a private limited company shall be abolished. It shall not be possible anymore to establish a company without initial share capital contribution;
• The supervisory capacity of the Commercial Register registrar shall be improved;
• Starting from 01.03.2024, it will be possible to reserve a business name for six months and to apply for making an entry in the commercial register on a specific date with good reason;
• Starting from 01.09.2023, the data of shareholders of private limited companies shall be considered as registry card data, and the list of shareholders shall be maintained by the registrar of the Commercial Register.

More information can be found in this article (in Estonian) https://lextal.ee/ariseadustik-muutub/

The exact text of the Commercial Code and Commercial Register Act is located here:

Commercial Code

Commercial Register Act

If you have any questions, please get in touch with us on the contact page.

Recent amendments to the Employment Contracts Act modernized the organization of working time and on-call time. The category of an EMPLOYEE WITH INDEPENDENT DECISION-MAKING CAPACITY has been added.

Our team is expanding, and our dispute resolution department acquired an excellent attorney in January. Allow us to introduce: our new colleague, lawyer Oliver Grauberg.

Oliver has obtained a master’s degree in law (specialization in IT law) from the University of Tartu and complemented his studies in the field of cyber protection. Oliver has been a member of the Bar Association since September 2020. After becoming an attorney, he worked in another law firm and as an advisor to the Ministry of Economic Affairs and Communications.

On April 14, the Harju County Court fined Eesti Ekspress journalists Sulev Vedler, Tarmo Vahter and AS Ekspress Meedia EUR 1,000 each for disclosing information in an article dated March 25 that the former board of Swedbank had been suspected of money laundering. The prosecutor’s office had not previously shared this information with the public, and the prosecutor’s office was not informed of the article’s publication.

However, the district court overturned the county court’s order in the summer. At the beginning of September, the Supreme Court heard the appeal of the state prosecutor Sigrid Nurme against the judgment, which annulled the fining of Eesti Ekspress journalists. The state prosecutor requests the annulment of the June 14 order of the Tallinn District Court and the enforcement of the April 14 order of the Harju County Court.

Yesterday afternoon, the Supreme Court heard representatives of the State Prosecutor’s Office and newspaper Eesti Ekspress regarding the fining of Eesti Ekspress journalists. LEXTAL’s partner Oliver Nääs and attorney Sander Potisepp represent Eesti Ekspress in the case.

Oliver Nääs has commented that while the prosecutors could not describe in detail how the article harmed the investigation, it shows that for the prosecutor’s office, the case is more about the principle than a substantive problem.

Read more about the case (in Estonian) https://www.err.ee/1608820078/riigikohus-teeb-ajakirjanike-trahvimise-asjas-otsuse-koige-varem-jaanuaris 

LEXTAL partner Kristi Sild together with Keystone Advisers has advised Fruit Xpress OÜ founders in the transaction where international group Bidcorp acquired a majority shareholding in Fruit Xpress. The transaction results in a strategic partnership where the founders and management of the company will remain with the business.

Fruit Xpress is Estonia’s leading fresh distributor to the food service market. Bidcorp is a multinational food service operator listed on the Johannesburg Stock Exchange, South Africa, with a market capitalisation of approximately €6bn.

Read more about it: https://www.aripaev.ee/uudised/2022/12/14/toiduvedaja-fruit-xpress-sai-uue-enamusosanikuhttps://lnkd.in/dRxbQb3c

Although we would like to treat each of our customers, collaborators and good friends with some lovely gifts during the holidays, we can do better in the current situation. Ukraine is still fighting for its freedom, and this year we have decided to direct our Christmas gift finances and more to help Ukraine.

We decided not to offer help passively but to “put our hands on it” ourselves. A couple of LEXTAL colleagues will set off to Ukraine with the rest of the convoy in just a week. The car full of necessary equipment for the medical battalion “Hospitallers” (https://www.hospitallers.life/) should arrive at the destination in 35 hours.

We invite You, dear reader, to contribute to this undertaking. Let’s make a Christmas present together this time. For those in need. For the defenders of freedom. You can send your donation to the account:

ADVOKAADIBÜROO LEXTAL OÜ

EE962200221080317136

SWEDBANK, SWIFT kood/BIC HABAEE2X

Please indicate SLAVA UKRAINE in the explanation

All donations go towards buying, preparing and filling the medical battalion car with the necessary equipment. If the donations are more than the amount of one car and supplies, we will transfer the rest of the money to support the HELP99 initiative.

Here we would like to acknowledge the work of HELP99, an organization created by LIFT99 in Kyiv, which has been organizing aid to Ukraine for months and is also letting us help.

Slava Ukraini!