Polybius Foundation vs Maksim Velitsko


Sorainen successfully represented Polybius Foundation in the dispute.

As reported in CEE Legal Matters and in others online publications Polybius Foundation, which had conducted an initial coin offering, partecipated in a dispute involving one of the buyers, Maksim Velitsko, who was attempting to force a reversal of his token purchase.

The dispute started when Maksim Velitsko – who was disappointed that the value of the tokens had decreased – claimed his money back by first filing a bankruptcy petition to put pressure on Polybius Foundation. On April 13, 2020, the dispute was resolved when the Supreme Court dismissed his appeal in cassation, where he demanded the refund of the purchase price of the tokens from the Polybius Foundation.

The Sorainen team was led by Partner Reimo Hammerberg (Picture), Counsel Karl Kask and Senior Associate Triin Toom.

Involved fees earner: Reimo Hammerberg – Sorainen; Karl Kask – Sorainen; Triin Toom – Sorainen;

Law Firms: Sorainen;

Clients: Polybius;