Hi Christopher, thanks for pointers, I've updated the BIOS as requested
(neither wine nor VM with Windows running provided any help due to a
check for toshiba hardware early on startup of the downloaded exe; what
did the trick for me was cabextract for obtaining bios file & updater +
a bootable freedos iso).

That didn't help, unfortunately. Here is dmidecode output:
$ sudo dmidecode -s bios-version && sudo dmidecode -s bios-release-date
Version 4.10  
01/08/2013

This is what happens:
1) sudo pm-suspend suspends my laptop.
2) pressing the power button should resume it - the display gets turned on but 
remains black, and shortly after that the fan gets very loud and runs at full 
speed.
3) there is no way to recover from that -  except for forced shutdown with 
power button.

Symptoms are exactly the same if I configure my desktop to suspend on
lid closing.

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https://bugs.launchpad.net/bugs/1362958

Title:
  [Toshiba Tecra R850-14Q] suspend/resume failure

Status in “linux” package in Ubuntu:
  Incomplete

Bug description:
  Resume doesn't work for me in Ubuntu 14.04. When I close the lid, or
  issue pm-suspend manually, the system gets suspended, but opening the
  lid results in black screen and laptop fan gets really loud. There is
  no way to recover from that. Reproducible every time.

  ProblemType: KernelOops
  DistroRelease: Ubuntu 14.04
  Package: linux-image-3.13.0-34-generic 3.13.0-34.60
  ProcVersionSignature: Ubuntu 3.13.0-34.60-generic 3.13.11.4
  Uname: Linux 3.13.0-34-generic x86_64
  Annotation: This occured during a previous suspend and prevented it from 
resuming properly.
  ApportVersion: 2.14.1-0ubuntu3.3
  Architecture: amd64
  AudioDevicesInUse:
   USER        PID ACCESS COMMAND
   /dev/snd/controlC0:  pawel      4150 F.... pulseaudio
  Date: Fri Aug 29 08:52:53 2014
  DuplicateSignature: suspend/resume:TOSHIBA TECRA R850:Version 3.00
  ExecutablePath: /usr/share/apport/apportcheckresume
  ExecutableTimestamp: 1406572220
  Failure: suspend/resume
  InstallationDate: Installed on 2014-04-12 (138 days ago)
  InstallationMedia: Ubuntu 14.04 LTS "Trusty Tahr" - Daily amd64 (20140411)
  InterpreterPath: /usr/bin/python3.4
  MachineType: TOSHIBA TECRA R850
  ProcCmdline: /usr/bin/python3 /usr/share/apport/apportcheckresume
  ProcCwd: /
  ProcEnviron:
   TERM=linux
   PATH=(custom, no user)
  ProcFB: 0 inteldrmfb
  ProcKernelCmdLine: BOOT_IMAGE=/boot/vmlinuz-3.13.0-34-generic 
root=UUID=c52f003e-a221-4500-a0ee-11d9d7617244 ro quiet splash vt.handoff=7
  PulseList:
   Error: command ['pacmd', 'list'] failed with exit code 1: Home directory not 
accessible: Permission denied
   No PulseAudio daemon running, or not running as session daemon.
  RelatedPackageVersions:
   linux-restricted-modules-3.13.0-34-generic N/A
   linux-backports-modules-3.13.0-34-generic  N/A
   linux-firmware                             1.127.5
  RfKill:
   0: phy0: Wireless LAN
        Soft blocked: no
        Hard blocked: no
  SourcePackage: linux
  Title: [TOSHIBA TECRA R850] suspend/resume failure
  UpgradeStatus: No upgrade log present (probably fresh install)
  UserGroups:
   
  dmi.bios.date: 08/06/2011
  dmi.bios.vendor: TOSHIBA
  dmi.bios.version: Version 3.00
  dmi.board.asset.tag: 0000000000
  dmi.board.name: Portable PC
  dmi.board.vendor: TOSHIBA
  dmi.board.version: Version A0
  dmi.chassis.asset.tag: 0000000000
  dmi.chassis.type: 10
  dmi.chassis.vendor: TOSHIBA
  dmi.chassis.version: Version 1.0
  dmi.modalias: 
dmi:bvnTOSHIBA:bvrVersion3.00:bd08/06/2011:svnTOSHIBA:pnTECRAR850:pvrPT525E-00V00QPL:rvnTOSHIBA:rnPortablePC:rvrVersionA0:cvnTOSHIBA:ct10:cvrVersion1.0:
  dmi.product.name: TECRA R850
  dmi.product.version: PT525E-00V00QPL
  dmi.sys.vendor: TOSHIBA

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