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Tarmo Peterson co-authors extensive analysis of insolvency laws submitted to Ministry of Justice to form basis for new legislative amendments
Tarmo Peterson co-authors extensive analysis of insolvency laws submitted to Ministry of Justice to form basis for new legislative amendments
RASK partner
Tarmo Peterson participated in the extensive work of an expert group revising
Estonian laws concerning insolvency and restructuring in the spring of 2020. As
a result of four months of in-depth research, the working group prepared over
500 pages of analysis for the Ministry of Justice by the beginning of June,
which will serve as a basis for improving Estonian restructuring and insolvency
laws.
The analysis
was compiled by top insolvency experts in Estonia: attorney-at-law Tarmo
Peterson, judge Kersti Kerstna-Vaks, trustee in bankruptcy Toomas Saarma, legal
scholar Annemari Ounpuu and attorneys Anto Kasak and Peeter Viirsalu.
The ministry
commissioned the analysis to assess the Estonian legislation on corporate
restructuring and release from obligations of natural persons, and the practical functioning of the
legislation. The analysis also provides guidelines for the incorporation of the
European Parliament and the Council Directive on restructuring and insolvency
into Estonian law and the successes of other countries in conducting
restructuring procedures.