A multijurisdictional overview for the central European, southern European and Baltic countries The COVID-19 pandemic has, and will have, an unprecedented impact on the economy of all countries across the globe. Many governments and banks have introduced extraordinary measures to moderate the financial and economic impacts of the pandemic and inevitable domino effect of credit […]
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 […]
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 […]
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 […]
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 […]
