News

What happened?

Personal data (name, address, date of birth, Covid-19 test data) of more than 24,000 people tested positive for coronavirus in Tyrol were unlawfully disclosed. Apparently, everyone who tested positive for the coronavirus in Tyrol between January 2021 and June 2021 is affected. HG Lab Truck carried out the test analyses.

HG Lab Truck refused to provide information

HG Lab Truck refused until the very end to provide information on whether potentially affected persons were actually affected by the data leak. SCHEIBER LAW therefore brought an action for information against HG Lab Truck. Recently, the Supreme Court ruled in favour of our clients.

Further course of proceedings

In the further course of the proceedings, the courts will have to decide whether our clients are entitled to damages for the late provision of information.

Collective proceedings for affected parties

Anyone can register free of charge for SCHEIBER LAW's collective proceedings at www.gesundheitsdatenleck.tirol in order to enforce claims for information and possible damages.

For publication on ogh.gv.at

To the decision in RIS

SCHEIBER Attorney at Law provided legal advice on the preparation of the token prospectus as well as on the corporate law structure.

We are pleased to inform you that the Financial Market Authority (FMA) Liechtenstein approved the submitted prospectus on 27 June 2022.

We would like to thank Calidris Fintech AG for the trust placed in us to date and congratulate them!

SCHEIBER Attorney at Law prepared the legal opinion of the Shareberry Blockchain and its Shareberry Token (SHTO) and Shareberry Power Token (SHPO).

Configuration error led to data breakdown

The data leak was apparently triggered by a configuration error on one of Buchbinder's backup servers, resulting in the following personal data of the affected customers being leaked onto the internet:

• Name
• Address
• Date of birth
• Mobile phone number
• E-mail address
• Driving licence number
• Driving licence issue date
• Payment information and bank details

Data breach victims become victims of phishing attempts

Since the disclosed data was publicly available on the internet, basically every internet user could access and download all data unencrypted. It is therefore very likely that there will be more phishing attempts, blackmail and other fraudulent methods. Identity theft cannot be ruled out either.

Claims for damages due to data protection violations

The disclosure of personal data is likely to constitute a serious breach of the DSGVO (European Data Protection Regulation). According to Art 82 DSGVO, any person who has suffered material or immaterial damage due to a data protection violation is entitled to claim damages against the responsible party, thereby against Buchbinder.

In the present case, Art 65 VersVG in the relevant version provided for a right of withdrawal of the policyholder within one month after knowledge of the conclusion of the contract.

The insurance documents incorrectly informed the policyholder about the 14-day withdrawal period that was legally valid at the time of the application, whereas at the time of the acceptance of the policy by sending it to the policyholder, the 1-month withdrawal period was valid in any case.

It was clarified that the conclusion of a life insurance contract requires acceptance, which would regularly become perfect by sending the policy. Since the change in the legal situation had already been sufficiently announced in advance, it would have been possible for the insurance company to fit the cancellation instruction into the insurance documents without any problems.

Security gap in online store led to data breach

Due to a security hole in the online store of one of the world's best-known manufacturers of hardware wallets, Ledger SAS, headquartered in Paris, France, its e-commerce and marketing database containing approximately one million customer email addresses and approximately 292,000 personal customer information records, such as first and last names, telephone numbers, postal addresses and purchased products, was leaked last year 2020 and has since been available for download by anyone on an Internet platform.

Data breach victims become victims of blackmail

Since the personal data of Ledger customers has been made publicly accessible, those affected have been receiving huge amounts of unsolicited advertising emails, telephone calls from unknown third parties, who mostly want to sell dubious financial products, as well as phishing emails, but also blackmailing emails or calls on an almost daily basis.

Claims for damages due to data protection violations

The law firm SCHEIBER Rechtsanwalt | Attorney at Law has initiated a class action lawsuit for those affected by the Ledger data breach. It can be assumed that Ledger violated provisions of the European General Data Protection Regulation (GDPR). Ledger is liable as a data protection controller and affected parties have a claim for damages. Ledger has so far rejected an out-of-court settlement. For this reason, the first lawsuits have now been filed in court (initially in Germany).

The services of crypto exchanges, such as BITSTAMP, JUBITER, BITPANDA, KRIPTOMAT, COINBASE, KRAKEN are thus downright abused.

Unfortunately, it is extremely difficult to track down the cyber fraudsters in this way. For this reason, we now also offer investigations into cryptocurrency transactions with the help of external partners.

Art 65 VersVG in its corresponding version provided for a right of withdrawal by the policyholder within one month of the conclusion of the contract.

In the insurance documents, the 14-day withdrawal period legally valid at the time of application was incorrectly indicated, whereas at the time of acceptance of the policy by sending it to the policyholder, the 1-month withdrawal period applied in any case. 

The Princely Regional Court made it clear that the conclusion of a life insurance contract requires acceptance, which would regularly be perfected by sending the policy. After the change in the legal situation had been sufficiently announced in advance, it would have been possible for the insurance company to easily adapt the withdrawal instruction in the insurance documents accordingly.

The decision is not yet legally binding.

As an innovative Swiss company, Maji HOLDING AG uses the novelty of blockchain technology and carries out an issueof bonds in the form of a STO (Security Token Offering) in Liechtenstein.

SCHEIBER Attorneys at Law advised Maji HOLDING AG.

We are pleased to inform you that the Liechtenstein Financial Market Authority (FMA) approved the submitted prospectus on 22 June 2020.

The prospectus has been drawn up as an EU Growth Prospectus in accordance with the new EU Prospectus Regulation (EU) 2017/1129, which has been in force since 21 July 2019.

We would like to thank Maji HOLDING AG for their trust and wish them all the best!

After the United Kingdom left the EU in February 2020, the EU Commission definitely put British Overseas Territories, such as the Cayman Islands, on the black list of non-cooperative countries.

As a result, a particularly large number of hedge funds domiciled in the Cayman Islands intend to change their location.

Liechtenstein would offer itself as an ideal new fund center. One of the biggest advantages is that Liechtenstein does not levy taxes on funds. Liechtenstein is also a member of the European Economic Area (EEA) and access to the European market (EU passport) is guaranteed.

Based on our experience in this area, we would be pleased to support you in relocating or relocating the fund's registered office from a British overseas territory to Liechtenstein.

We offer you comprehensive support and organisation.

As an innovative Liechtenstein company, ENERCOM AG uses the novelty of blockchain technology and carries out a share issue in the form of a STO (Security Token Offering) in Liechtenstein.

SCHEIBER Attorneys at Law advised Enercom AG.

We are pleased to inform you that the Liechtenstein Financial Market Authority (FMA) approved the submitted prospectus on 21 November 2019.

The prospectus has been drawn up as an EU Growth Prospectus in accordance with the new EU Prospectus Regulation (EU) 2017/1129, which has been in force since 21 July 2019.

We would like to thank ENERCOM AG for their trust and wish them all the best!

SCHEIBER Attorneys at Law represents a client in an employment dispute before the Princely Regional Court.

The employer, a Liechtenstein bank, refused until the end to issue the client with a certificate of employment. The reason for this was that the employee was still in a parallel court action against the employer for abusive dismissal.

With the judgment of the Princely Regional Court of 27 September 2019, our employer’s application for the issuance of an employment certificate was upheld and the employer was obliged to issue the client with an employment certificate.

Among other things, it can be inferred from the grounds for the judgment that employees are entitled to be issued with an employment certificate at any time, in particular also after termination of their employment relationship and also during ongoing proceedings on the question of the possible abusiveness of the employer’s dismissal.

The judgment is final.

SCHEIBER Attorneys at Law represents a segmented stock corporation whose wish was to enter its segments in the commercial register.

The reason for this is that one segment wanted to acquire a foreign property. However, the foreign land registry authority refused to enter the segment in the land register despite disclosure, as the segment was not an independent legal entity with an entry in the commercial register.

The Commercial Register Office rejected the request for registration on the grounds that the public interest did not justify registration.

An appeal against this decision has now been lodged with the Complaints Commission for Administrative Matters.

Its decision is expected shortly.

Some banks based in Dubai, United Arab Emirates, acted as receiving banks for the investments in the online trading platform “Stackoptions”.

“Stackoptions” is built on fraud. The web page ‘www.stackoptions.com’ is already no longer attainable. Numerous investors were brought around their savings. Unfortunately, it is only with difficulty possible to find the backers of “Stackoptions”, in order to be able to get back from them the invested money.

But there is a glimmer of hope! It has been noticed that the receiving banks involved have often violated their due diligence and compliance obligations. This makes it possible to sue the receiving banks for damages.

SCHEIBER Attorneys at Law was on site in Dubai to discuss proceedings against the banks concerned with local attorneys at law.

Where securities are either offered to the public or are to be admitted to trading on a regulated market, a prospectus must in principle be drawn up. From 21/07/2019, the new EU Prospectus Regulation – Regulation (EU) 2017/1129 – will apply in Liechtenstein.

There are in particular the following exceptions from the obligation to publish a prospectus:

• Offer of securities addressed solely to qualified investors: “Qualified investors” are defined in particular as follows
  • financial institutions (banks, insurance companies, investment firms);
  • large companies (balance sheet total = EUR 20 million, net turnover = EUR 40 million, own funds = EUR 2 million);
  • investors who, upon request, can be treated as qualified investors;
• offer of securities addressed to fewer than 150 natural or legal persons per EEA Member State, other than qualified investors;
• offer of securities whose denomination per unit amounts to at least EUR 100,000;
• offer of securities addressed to investors who acquire securities for a total consideration of at least EUR 100,000 per investor, for each separate offer;
• offer of securities that is not subject to notification and whose total consideration over a 12-month period does not exceed EUR 8,000,000;
• offer of securities whose total consideration over a 12-month period does not exceed EUR 1,000,000.

Special feature of the “EU Growth Prospectus”

Prospectus with standardised presentation for the following issuers:

1. SMEs;
2. issuer, other than SMEs, whose securities are traded or are to be traded on the SME growth market with an average market capitalisation in the last 3 calendar years of less than EUR 500 million;
3. issuer, whose public offer does not exceed EUR 20 million over a period of 12 months, provided that no securities are traded on an MTF and average employment in the last financial year is up to 499;
4. offeror of securities of one of these issuers referred to in points 1. and 2.

The PCC is not an actual legal form, but an organisational form, by means of which companies can be divided into different segments (also called cells). The assets of the individual segments are separated from each other and from the core assets. A PCC is particularly recommended for the acquisition, management and disposal of investments in other companies (subsidiaries).

If the PCC is a stock corporation, own shares may be issued for individual segments, so-called segment shares. Since the legal basis with regard to the issue of segment shares is ambiguous, Dr. Scheiber is currently in contact with the Liechtenstein Commercial Register in order to find a common understanding.

The relevant legal provisions on the PCC can be found in the Liechtenstein Persons and Companies Law (PCL) and are available at www.gesetze.li.

The supposedly fast profit from online trading platforms for Binary Options, CFD Trading, Crypto Trading and Forex Trading quickly becomes a loss trap.

These platforms are usually based on fraud. Sophisticated software first tricks customers into believing that they are making a profit, so that more and more money is invested. When then suddenly, mostly overnight, a total loss occurs, which should have resulted from negative price developments, it was always assured. What is not mentioned, however, is that the money invested by the customers was never invested, but was deducted via front companies into their own pocket when customers made their first deposit. These are highly criminal machinations by internet and cyber fraudsters.

We warn against investing money in such online trading platforms. There are already several thousand victims across Europe and the harm volumes go into the hundreds of millions of Euros

In the past we have dealt with the following fraudulent online trading platforms:

We at SCHEIBER Attorneys at Law already represent victims of these scams. Very often further damage can be prevented by quick action.

The first steps should be:

• Stop bank transfers
  Transfers already made can often be retrieved.

• Stop credit card payments
  Credit card payments can be charged back under certain conditions.

• Police and prosecution involvement
  Only recently, a cooperation between the Austrian Federal Criminal Police Office, foreign authorities and Europol succeeded in arresting cyber criminals.

In times of blockchain and crypto currencies, an innovative Liechtenstein company uses the advantages and novelty of these technologies and combines them with traditional forms of financing, creating the first tokenised bond in the Liechtenstein financial center. We at SCHEIBER Attorneys at Law provide legal advice to this company and support it in the preparation of the securities prospectus.