We contributed to the EU Dictionary of Insolvency Terms, prepared by the international law firm DLA Piper, as regards the insolvency and restructuring legal frameworks in Latvia, Lithuania and Estonia.
This invaluable resource provides a concise overview of all the corporate, personal and partnership insolvency proceedings for each EU member state. Each proceeding is briefly described, including key features such as who oversees the process and whether a moratorium is likely to be implemented to prevent enforcement.
While there has been progress towards a harmonised approach to financial distress across Europe, restructuring and insolvency procedures and associated terminology remain highly diverse. This dictionary will prove useful to anyone dealing with financially distressed entities in the EU, enabling a better understanding of the procedures available in each member state.
Specifically, prospective buyers of distressed debt, insolvency practitioners, investors, lenders and credit controllers will find this an invaluable resource.
The Sorainen team comprised partner Kazimieras Karpickis; senior associates Edvīns Draba, Greta Kubiliūnaitė and Mari Agarmaa; and associate Kristers Pētersons, as well as assistant lawyer Maarika Maripuu.