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RASK Partner Tarmo Peterson Confirmed as ERIAL Bankruptcy Trustee, Proceedings Continue
RASK Partner Tarmo Peterson Confirmed as ERIAL Bankruptcy Trustee, Proceedings Continue
The first general meeting of creditors in the bankruptcy proceedings of the savings and loan association ERIAL was held on December 15, where, among other things, a bankruptcy committee was formed. RASK partner Tarmo Peterson was confirmed as the bankruptcy trustee.
In an interview given to Estonian Public Broadcasting, Tarmo Peterson urged creditors to submit their claims no later than 21 January to the email address erial@rask.ee, stating: “The claims must be submitted to the trustee by this deadline. If this is not done, it will not be possible for the creditor to participate in the bankruptcy proceedings and receive a share of the future bankruptcy assets.”
The total amount of creditors’ claims is approximately €14 million; however, according to the trustee’s preliminary assessment, the value of the company’s bankruptcy assets is currently estimated at zero euros. The possible satisfaction of creditors' claims depends on the recovery of the assets, as the bankruptcy proceedings may last for years.
In an interview given to Estonian Public Broadcasting, Tarmo Peterson urged creditors to submit their claims no later than 21 January to the email address erial@rask.ee, stating: “The claims must be submitted to the trustee by this deadline. If this is not done, it will not be possible for the creditor to participate in the bankruptcy proceedings and receive a share of the future bankruptcy assets.”
The total amount of creditors’ claims is approximately €14 million; however, according to the trustee’s preliminary assessment, the value of the company’s bankruptcy assets is currently estimated at zero euros. The possible satisfaction of creditors' claims depends on the recovery of the assets, as the bankruptcy proceedings may last for years.