Tarmo Peterson writes on the role of companies in successful restructuring
September issue of the construction magazine EhitusEST, RASK attorney and head
of insolvency Tarmo Peterson writes in detail why restructuring does not work in Estonia today and
what could be done to break out of the current practice.
are operating in uncertain economic conditions today. Compared to last year,
every business now has an increased responsibility to critically assess its own
financial situation and that of its partners,” Tarmo writes in the introduction
to his article.
Temporary business difficulties are a normal part of economic activity, especially in times of crisis. It is important to be aware of the options that may be available to overcome insolvency. The reasons why restructuring does not work today are not so much to do with legislation as the behaviour of the debtor and the creditor during the process.