LEGAL MACHINERY: the Leading Experts in Law and Technology

The Law of Finance, Insurance and Taxation ● Immigration Laws of the U.S. and Canada
Legal Expert Systems

Business Clients

We have introduced flat fees for selected business services:

  • Trademark registration - £379
  • Trademark search - £39
  • Trademark watch - £69
  • Patent registration - £449

We welcome business client referrals for the following areas of our expertise:

  • the law of finance, insurance and taxation
  • company law
  • immigration laws of the U.S. and Canada
  • legal expert systems
  • trademark registrations, watching and searches
  • patent specifications, registrations, searches and renewals
  • copyright and IP administration
  • cryptocurrencies and blockchain technology matters

Cryptobonds issuance

Issuing cryptobonds is a new way of raising funds for your project. In an ICO, token buyers believe in the future rise of your token's value. That is all they get. Many token buyers have been disappointed by failures of most ICOs and now they prefer the advantages of fixed income from cryptobonds.

By issuing a cryptobond you promise to repay bondholders the funds they paid you for the bonds at some point in the future. The cryptobond is denominated in a major cryptocurrency or in your token so if your token's value rises then the bondholders benefit from the appreciation as well as from interest that you pay for the bond.

We can issue the bond for you and secure primary buyers. We can also be a trustee for the issue if the bond is denominated in our tokens ORIG & OBITER. Our remuneration is based on fees and commissions.

Bond terms will need to be decided:

  • how to supplement for a credit rating (no rating agency in place as of yet)
  • the amount
  • return on investment
  • when redeemable
  • bondholders' rights in the case of default
We are happy to help issuers with the specification of their requirements. As to our remuneration, it will be in principle based on a combination of fees and commissions and I propose to finalise it together with the issuers.

How does the UK regulation differ from other jurisdictions?

As it is an obligation to return borrowed funds, it is enforceable under English law in any court that recognises it, on the other hand, cryptocurrencies are unregulated in the UK so cryptobonds issuance is not a regulated activity. It does involve a significant amount of legal matters though and there is legal risk involved in the sense that cryptobonds may be banned at any time (meaning an abrupt end) or declared regulated activities, which would simply mean they would fall within the FCA regulatory perimeter. Therefore we do not expect such a proliferation of fraudulent issues as with ICOs.

Are cryptobonds not just simply eurobonds?

I guess the terminology has not fully settled yet but the word cryptobond will probably end up somewhere at the level of the terms eurobond, bulldog, yankee, samurai etc. - none of them having a precise definition of particular instruments. I look into the substance and follow the model of a fiat note as a promise to repay borrowed funds, which is always the same no matter what the form is (physical/digital). The denomination, on the other hand, matters to me to distinguish between un- and regulated activities.

How much does issuance cost?

We calculate the total cost of the issue as follows:

  • Issue amount £2M in crypto: 5%
  • £100M: 0.37%
The cost would decrease from 5% to 0.37% in a linear manner with increasing issue amount. For issues below £2M there would be a fixed total cost of £100k, for issues over £100M the cost would be further discounted on an individual basis. We would accept fiat and/or crypto.

The calculation would be based on pricing of fiat bond issues as a starting point (please see attached a research on Eurobonds issue costs) which we will adhere to wherever possible. In addition, there may be third party costs such as exchange listing fees or rating fees, for instance; these will need to be clarified if/when such services become available and you decide to use them.

The issue costs would be deducted from the funds raised; a mandate deposit 5% of the total estimated issue cost will apply if you instruct us to lead-manage the issue. This may be spread over instalments.

Fiat Eurobond issues usually take about six weeks. Your issue might require more time as this is a novel way of raising funds but we will be happy to prepare a mandate letter at your nearest convenience.

The case for cryptobonds

Consider a cryptobond an ICO on steroids. They are more attractive to buyers because with an ICO all you get is the hope that the particular token will survive and gain value. A cryptobond issuer, on the other hand, promises you certain return plus all the perks of an ICO if the underlying token appreciates.

As an issuer, you can denominate your bond in a major crypto and must then make sure you will be able to repay it even if the crypto (BTC, ETH, etc.) goes through the roof in the future. Or, denominate it in your own token and make sure it gains value over time.

Another option is to appoint us your trustee in which case your bond is denominated in our tokens ORIG & OBITER. Buyers will buy O&O from us with a major crypto or fiat, we then gradually release payments to you and manage your repayments to buyers in O&O. As a guarantee we set aside the full issue amount which can be publicly inspected on blockchain. Buyers can resell O&O at any time at the DEX. Not only they gain from your bond but also from O&O's value appreciation as O&O has a finite amount, was never devalued by an airdrop or other giveaway and will be in demand by buyers for the purchases of other cryptobond issues.

Private Clients

We have introduced flat fees for selected personal client services:

  • Will Writing - £99
    • Home visit service is available in London boroughs of Kensington & Chelsea, Westminster, Camden and City of London.
  • Assisted Divorce - £69
    • Preparation of divorce forms for uncontested divorce.
We hope that flat fees will bring higher transparency into the pricing of legal services and improve public access to justice.

We welcome clients who have been affected by any of the following:

  • divorce
  • bought/sold a house
  • been arrested
  • dealt with estate
  • clinical negligence
  • immigration - USA and Canada
  • been treated badly by the police
  • made a will
  • relationship breakdown
  • home repossessed/faced eviction
  • other personal injury
  • other problems with owned property
  • tenant/squatters
  • problem with employer
  • problems with a landlord
  • injured at work
  • re-mortgaged
  • road traffic accident
  • children
  • debt/money problems
  • welfare benefits, tax benefits
  • discrimination
  • domestic violence
Clients speaking Czech, Slovak, Russian and German are welcome as we can communicate in these languages.

Legal Expert Systems

We develop customised systems for automated legal assessment. Contact us on 07599 968 213 for details.

About us

In the pursuit of more efficient access to justice

Our story of helping clients in need of legal service, saving their time and costs

I am a First Class Honours lawyer specialised in the Law of Finance and Taxation with a substantial previous background as an IT consultant and software developer, experienced in providing advice and conducting judicial reviews, applications for injunctions, money claims and private prosecutions.

I studied Business Law at London Metropolitan University and apart from my school syllabus I researched English laws of Banking, Insurance, Commerce, Consumer, Family, Medical Care, Extradition, Intellectual Property, Local Government, Civil and Criminal Procedures as well as the United States' and Canada's laws of Immigration & Nationality.

Before I studied law I had worked as an I.T. consultant and developed software; at the law school I quickly realised similarities between the logic behind computer programs and the logic of principles underlying the law. Of course there is nothing new about programming applications that can answer legal questions but the whole field has entirely new possibilities now thanks to newly available technologies such as global interconnectivity, big data and artificial intelligence. That has led me to an extensive research on possible applications of artificial intelligence in the legal profession and the Stanford Law School Legal Design Lab has kindly published a number of my U.S. immigration law diagrams on its website.

I have been working on an automated legal assessment framework software - a "digital lawyer" expert system; apart from writing journal articles on the topic I mainly develop the actual code. The core of the system is in a proof of concept stage and its document assembly part has already produced a number of court bundles for actual litigations.

I firmly believe we provide valuable services and products thanks to my research and development in the field of automated legal assessment. It is generally recognised that computers will play ever increasing role in supporting the legal profession and I have gained extensive insight into the topic. We will be more than happy to improve your access to justice with that insight.

Zdenek

Zdenek

Zdenek Masek LLB (Hons)

Founder and CEO

A First Class Honours lawyer, specialised in the English Law of Finance and Taxation, U.S. Immigration and Nationality Law and the Immigration and Refugee Law of Canada. Zdenek is experienced in providing advice and conducting judicial reviews, applications for injunctions, money claims and private prosecutions. He has a substantial I.T. background.

Copyright © Zdenek Masek LLB (Hons) 2018 All rights reserved.