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Bankruptcy law in Estonia

professional help in case of financial difficulties
CONTACT US

Are you in a financial crisis or considering declaring bankruptcy?

Stella Einla Law Firm offers comprehensive legal assistance in the field of the Estonian bankruptcy law – from the submission of an application to restructuring or debt cancellation.

Conduct of bankruptcy proceedings in Estonia.

We offer a full range of services to advise legal persons in bankruptcy proceedings in Estonia. Our task is to ensure the lawful and efficient termination of the operations of a company, minimize the risks for the managers of a company, and protect the interests of all parties to the maximum extent possible.

Stages of service and what we do for your business:

1. Pre-assessment and preparation

Situation analysis: we conduct a thorough analysis of the financial situation of your company, identify all signs of insolvency, and assess the risks to the members of the management board.
Preparation for the procedure: we help prepare all the necessary documentation for filing an application with the court. This includes the analysis of arrears and debts, asset inventory, and valuation.
Developing a strategy: we will develop a strategy to avoid criminal and secondary liability for board members and other responsible persons.

2. Initiation and processing of the case

Filing the application: we prepare and file a bankruptcy petition with the county court on behalf of your company. This can be either a voluntary decision or a response to the claims of creditors.
Representation in court: our lawyers represent the interests of the company at all hearings and communicate with the court and the interim trustee in bankruptcy.

3. Conduct of bankruptcy proceedings

Cooperation with the trustee in bankruptcy: we work closely with the appointed trustee, overseeing the process of forming and realizing the bankruptcy estate. We ensure that all operations comply with the law.

Protecting interests: we protect the interests of the company and its management at the meetings of creditors and in the committee of creditors. We contest unreasonable claims and ensure that rights are enforced.
Disputing transactions: we analyse transactions that the company entered into before the start of the bankruptcy. In the event of a dispute, we draft a legal position to defend them or, conversely, to return the assets to the bankruptcy estate.

4. Liquidation and termination

Distribution of assets: we oversee the fair distribution of asset sales and funds among creditors in accordance with the procedure established by law.
Preparation of the final report: we help prepare all the necessary documentation so that the trustee can prepare the final report on the conclusion of the proceedings.
Termination of operations: we provide legal aid until the closure of the bankruptcy proceedings of the court judgment, which means the complete termination of the operations of your company. We take on all the legal and administrative workload related to bankruptcy, ensuring maximum transparency and legality of the proceedings. This allows you to go through the liquidation of the company with minimal losses and risks.

5. Bankruptcy of a natural person and debt cancellation

We help clients who find themselves in difficult financial situations or who have significant problems fulfilling their obligations to use bankruptcy and debt cancellation options in accordance with Estonian legislation.
At the request of the client, insolvency proceedings are initiated (pursuant to the Bankruptcy Act), during which debts and assets are evaluated.
During the proceedings, it is possible to restructure debts: instalments, reduction of obligations, extension of deadlines in accordance with the Natural Person Insolvency Act.
After the bankruptcy proceedings have been completed, the next stage of debt cancellation begins: the standard term is up to 3 years, but if the conditions are met on time, early cancellation is possible after just 2 years.
If the court finds significant breaches of obligations, the deadline may be extended, or release may be refused; the debtor’s cooperation in good faith and fulfilment of requirements are most likely to lead to a successful outcome.

HOW WE HELP

01

Consultation

We listen to your concerns and assess the situation.

02

Analysis

We review your case and propose possible solutions.

03

Strategy

We develop a tailored strategy to achieve your goals.

04

Action

We represent you and protect your interests at every stage.

05

Outcome

We work to achieve the best possible outcome for you.

CONTACT US

Need legal advice?
Contact us, and we will find the best solution for your situation.

+372 53 04 70 60

www.einla.ee

stella.einla@berlin.com

Harju 6, 5. korrus, Vanalinn,
10130 Tallinn

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