Insolvency & Restructuring

Find out about legal solutions, in or out of court, on all aspects of restructuring and insolvency matters, on both a local and cross-border level.

Baltics and Belarus

Estonia

  • Estonia: When things get tough. How to deal with debt and liquidity issues?

    Publication / Mari Karja

    Many companies will likely be forced to deal with debts and liquidity issues – one must act smart and promptly to keep the problems from snowballing. Advice to creditors: Stop the snowballing effect! Set the credit limit and ask for advance payments First, take a good look at the credit limits you have set for your […]

  • Estonian corporate update: participation and voting at virtual meetings widely available

    The crisis has forced lawmakers to act promptly and introduce a wide array of new electronic options for companies to organise their business. While these new options often reduce the red tape burden for management board members, their most important duty – to act in the best interest of their companies – remains as important […]

  • Wrongful trading and directors’ liability – Estonia

    Publication / Mari Karja, Karmel Kristin Einberg

    Generally speaking, wrongful trading is the special form of liability where a director of a company is liable for damages towards the creditors for the mismanagement of an insolvent company. A special feature of the wrongful trading concept is that it may give rise not only to the liability of the director of the company […]

  • What to do if the debtor fails to pay? (in Estonian)

    Publication / Mari Karja, Polina Tšernjak / Äripäev

    The more time passes, the more the issue of debt collection becomes relevant. In general, even force majeure does not release the debtor from his financial obligation. What to do in case the debtor fails to pay explain our senior associate Mari Karja and legal assistant Polina Tšernjak. Read more in Estonian.

  • Seven Debt Prevention Tips

    Publication / Mari Karja / Postimees

    In the coming months, many companies will face indebtedness and liquidity problems that can be alleviated by acting prudently. It is important to address indebtedness and the resulting liquidity problems at the earliest possible stage. Otherwise, they may deepen and become insurmountable, when it may no longer be possible to return from bankruptcy, writes our […]

  • COVID-19 related amendments to insolvency regulations in Estonia

    Publication / Mari Karja

    Suspension of the management board’s obligation to file a bankruptcy application Under the Estonian COVID law the obligation of the management board to file a bankruptcy application is halted. This amendment applies to all legal and natural persons. However, an undertaking that lacks prospects of restoring and continuing its economic activities after the current emergency […]

  • COVID-19 related financial measures in Estonia

    Publication / Kätlin Krisak

    All three Baltic governments have set in place financial measures to help companies out of the crisis. The Estonian government adopted a short-term economic support package on 19 March 2020. In addition, new crisis measures were set in place in a supplementary budget for 2020 which was approved by the government on 28 April (subject to […]

See more news in Estonian

Latvia

  • Latvia: When things get tough. How to deal with debt and liquidity issues?

    Publication / Edvīns Draba

    Many companies will likely be forced to deal with debts and liquidity issues – one must act smart and promptly to keep the problems from snowballing, Advice to creditors Stop the snowballing effect! Set the credit limit and ask for advance payments First, take a good look at the credit limits you have set for […]

  • Wrongful trading and directors’ liability – Latvia

    Publication / Edvīns Draba, Raivo Raudzeps

    Generally speaking, wrongful trading is the special form of liability where a director of a company is liable for damages towards the creditors for the mismanagement of an insolvent company. A special feature of the wrongful trading concept is that it may give rise not only to the liability of the director of the company […]

  • COVID-19 related amendments to insolvency regulations in Latvia

    Publication / Edvīns Draba

    Suspension of creditors’ right to file for insolvency Under the Latvian Covid-19 Law, any creditor (including an employee or the tax administration) is precluded from filing an insolvency application against a debtor (legal person) until 1 September 2020. The moratorium applies to any creditor-debtor relationship and hence is not limited to any industry or to […]

  • State loans and loan guarantees in Latvia

    Publication / Edvīns Draba

    In Latvia, state funds are channelled to support businesses through the state development finance institution ALTUM. State loans by the state development finance institution ALTUM Small, medium-sized and large enterprises facing financial difficulty due to COVID-19 spread may apply for loans to finance their working capital with subsidized/lower interest rates and decreased security requirements of […]

Lithuania

Belarus

  • Wrongful trading and directors’ liability – Belarus

    Publication / Maria Rodich

    Generally speaking, wrongful trading is the special form of liability where a director of a company is liable for damages towards the creditors for the mismanagement of an insolvent company. A special feature of the wrongful trading concept is that it may give rise not only to the liability of the director of the company […]

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