Leonid Tolstov

Partner, Head of Corporate and Commercial (Estonia)

Tartu, Estonia

+372 730 1610; +372 504 9961

Estonian, Russian, English, German


Advised MC Kasiinod on selling four casinos to Olympic Casino Eesti, member of the listed Olympic Entertainment Group active in the Baltics and CEE.

Advised Merko Ehitus Eesti, part of Merko Ehitus – the leading construction company in the Baltics listed on the NASDAQ Tallinn, in a landmark shareholders’ dispute concerning one of its subsidiary that included planning and carrying out a complex action plan which finally enabled to take over the management of the company from the minority shareholder.

Represented US investor in the Supreme Court in a landmark dispute on claiming damages caused to the client by an unlawful merger.

Advised the former minority shareholders of BLRT group, one of the largest industrial enterprises in Estonia, in corporate disputes.

Assisted Citadele Leasing, member of a major Baltic financial group, in a tort liability claim against members of the board.

Advising real estate developer Estiko on planning and construction of the shopping centre “Tasku” in Tartu and in later legal relationships with lessees.

Advised the Estonian branch of Australian-based multinational blasting systems corporation Orica in construction disputes.

Assisted Aminor Invest in preventing a hostile takeover.


2013 International Bar Association (IBA)
2013 Commercial Law Commission of the Estonian Bar Association
2000 Estonian Bar Association


Since 2017 Partner, law firm TGS Baltic (formerly VARUL)
20102017 Partner, law firm VARUL
20042010 Senior Associate, law firm VARUL
19992004 Associate, law firm VARUL


2015 University of Tartu, Faculty of Law, PhD
2000 University of Tartu, Faculty of Law, BA