LEXTAL advised Jacquet Metals of France on acquiring Swiss Steel Group OÜ, an Estonian company active in selling steel products. This was a cross-border M&A transaction whereby Jacquet Metals acquired, in addition to the Estonian company, companies belonging to the same group in Lithuania, Latvia, Poland, the Czech Republic, Slovakia and Hungary.
AS Solbritt filed for reorganisation last year, and the procedure started on October 12. On the last working day of the previous year, the Tartu County Court approved AS Solbritt’s restructuring plan, which the creditors unanimously adopted. Ksenia Kravtšenko, an attorney at law from law firm LEXTAL, is the company’s restructuring advisor and will supervise the plan’s implementation.
Virtual world enthusiasts can rejoice as Ready Player Me development brings a unique innovation to all gamers. The metaverse is an online virtual space where people can interact, play, and work together. In other words, metaverse is a 3D digital world where people come together and use avatars to represent themselves. From now on, users can add additional accessories from the world’s big names to their avatars.
Changes in value-added tax (VAT) and when can the 20% rate continue to be applied?
From January 1, 2024, the general VAT rate will increase from 20 percent to 22 percent.
Starting from January 1, 2025, reduced VAT rates will also increase:
- Accommodation (including breakfast) to 13 percent, and
- Books, textbooks, and periodicals (excluding primarily advertising or classified ads, erotic, or pornographic content publications) to 9 percent.
In this update, our focus is on the general VAT rate change that will come into effect from January 1, 2024.
LEXTAL helps a baby food producer overcome financial difficulties
Tartu County Court decided to initiate a restructuring process for the dairy production company AS Solbritt and appointed attorney at law at Law Firm LEXTAL, Ksenia Kravtšenko, as the restructuring advisor. AS Solbritt is a dairy production company whose factory has operated for 85 years. In 2005, they partnered with the Nutritec dairy group to mainly produce Nutrilak powdered milk blends under the trademark Nuppi. The advisor believes the circumstances outlined in the entrepreneur’s application support a positive outlook for the company’s recovery. The management’s past actions have been successful, and the future plans are realistic, providing hope for an effective process.
Under the Motor Insurance Act, the personal injury insurance limit is €5.6 million. However, this does not mean that all victims will receive this compensation. Insurance companies are under no obligation to inform victims of the compensation to which they are entitled by law. Unfortunately, it is up to the victim to ask for compensation. It isn’t easy to obtain the necessary information without the help of an attorney, as there is little public information available.
Most people clearly understand the need for insurance when renting or owning real estate. However, a common problem is not knowing what to consider when insuring and what to look for or remember regarding insurance policy conditions when it has been signed and the damage occurs. I’ll highlight five essential nuances often overlooked by companies and individuals when insuring their rented or personal real estate, drawing from my more than 25 years of experience in insurance law.
In today’s digital age, assessing customer experiences and leaving public reviews is part of a business owner’s daily life. Various online platforms allow people to share their experiences in almost every service sector: you can rate hotels, restaurants, and beauty professionals, as well as professionals like doctors, photographers, taxi drivers, and lawyers. Since customer reviews and ratings influence potential customers’ purchasing decisions, business owners depend highly on the feedback they receive.
Positive feedback and a higher average rating mean more customers and revenue, while negative reviews can lead to customers lost to competitors. Harsh and negative feedback can be detrimental to a business. Given this, it’s important that the feedback provided by customers is based on factual circumstances and reasonably reflects adequate assessments. However, what should you do if a review about your business is clearly based on fabrications, or you consider it unfair or exaggerated in its negativity? No one should have to tolerate unjustified criticism or false information about themselves. It’s important to distinguish whether the review contains incorrect information or expresses a valuation. This distinction determines what actions can be taken to protect your rights.
How the scandal in Luxembourg will change Estonian law?
How is the 2014 Luxembourg tax scandal, also known as LuxLeak, related to an Estonian entrepreneur with at least 50 employees?
Answer – Due to LuxLeak, Estonia is about to impose an obligation on every company with 50 or more employees to establish a confidential reporting channel for whistleblowing and a prohibition on using pressure measures against informants.
It is essential to create a safe and effective way to report violations in the workplace to prevent further wrongdoing or to minimise the damage caused, affecting as few people as possible. At the same time, protection against workplace harassment must be ensured for the whistleblower. Discovering and addressing a violation within the company helps to minimise potential reputational damage that may result from publicising the breach.
Sending marketing emails is an excellent way to increase sales. Those who don’t make sales don’t do business. However, a question arises as to whether this complies with strict data protection rules. It is known that the Data Protection Inspectorate is increasingly vigilant and imposes hefty fines for violations.