- INSOL Europe/LexisPSL Joint Project on ‘How EU Member States recognise insolvency/restructuring proceedings commenced in third country states’—Estonia
- Q1. Has your country adopted the UNCITRAL Model law on insolvency?
- Q2. What are your country’s private international law provisions for the recognition of insolvency proceedings commenced in countries outside of the EU Member States (ie third party states like the UK)?
- § 620. Recognition of court decisions of other foreign states in civil matters
- § 621. Rule concerning enforcement of court decision of foreign state
- § 622. Petition for declaring court decision of foreign state enforceable
- § 623. Order on declaring court decision of foreign state enforceable
- § 624. Amendment or annulment of court decision declared to be subject to enforcement
- § 625. Filing of appeal against order
- § 626. Compensation for damage caused to debtor
- § 627. Recognition of other enforcement instruments of foreign states
- Q3. Would your country recognise an English scheme of arrangement (under Part 26 of the Companies Act 2006 (CA 2006)) or an English restructuring plan (under CA 2006, Pt 26A ) now post-Brexit and on what basis? (eg Lugano Convention, Hague Convention, Rome I or other private international law rules).
- INSOL Europe/LexisNexis table of ‘How EU Member States recognise insolvency/restructuring proceedings commenced in third country states’
Restructuring and Insolvency analysis: This article looks at how Estonia would recognise insolvency or restructuring proceedings commenced in a third country state. In particular, it considers whether the English Part 26 scheme or Part 26A restructuring plan would be recognised in Estonia. Written by the Estonian country coordinator for INSOL Europe, Signe Viimsalu (Ernst & Young Baltic AS, Estonia).
Sign in or take a trial to read the full analysis.
To continue reading this news article, as well as thousands of others like it, sign in to LexisPSL or register for a free trial