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Tarmo Peterson talks about the bottlenecks of bankruptcy proceedings and the new bankruptcy act on Äripäev radio

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Tarmo Peterson talks about the bottlenecks of bankruptcy proceedings and the new bankruptcy act on Äripäev radio

According to the World Bank, the rate of satisfaction of creditors claims in bankruptcy proceedings in Estonia is only 36 cents on the dollar. And more than half of bankruptcy proceedings usually end in abatement.

RASK's partner Tarmo Peterson was invited to Äripäev radio to talk about whether and how the new bankruptcy act, which entered into force in February 2021, will improve the process of bancruptcy proceedings in Estonia. In the broadcast, Tarmo also shared his insight on what entrepreneurs themselves can do to maximise their prospects in a bankruptcy situation.

Tarmo is one of the strongest legal experts in the field of insolvency in Estonia and is also a frequent co-operation partner for the state. He is currently involved as an expert in the process of improving Estonian reorganization laws. He was also an advisor in the development of the Bankruptcy Act, which entered into force in February 2021.

The radio broadcast is available here (in Estonian):
https://www.aripaev.ee/raadio/episood/mida-ja-kuidas-muudavad-pankrotiseaduse-muudatused 

Furthed information about the renewed bankruptcy act:
https://rask.ee/news/henri-torop-gives-an-overview-of-the-amendments-to-the-bankruptcy-act