Insolvency registers - Estonia
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This page provides a brief overview of the information offered on insolvency by the Estonian commercial register and the official publication Ametlikud Teadaanded [Official Announcements].
What information is available in Estonia on insolvency?
Estonia does not have a separate insolvency register, but information on bankruptcy and debt conversion procedures for both legal and natural persons can be found in the electronic official journal Ametlikud Teadaanded. In addition, the Estonian commercial register and the register of non-profit associations and foundations contain information on the bankruptcy of legal entities and self-employed persons.
The following are examples of what is entered in Ametlikud Teadaanded by the courts and trustees in bankruptcy:
- the time and place of reviewing a bankruptcy petition, and a notice communicating the prohibition on disposal of assets;
- a notice concerning a declaration of bankruptcy;
- a notice concerning a general meeting of creditors;
- a notice concerning approval of a preliminary distribution proposal;
- a notice concerning closure of bankruptcy proceedings;
- a notice concerning approval of a debt adjustment plan.
A full list of the announcements to be published can be found on the Ametlikud Teadaanded website.
The following are entered in the Estonian commercial register and the register of non-profit associations and foundations on the basis of a court judgment:
- discontinuation of bankruptcy proceedings without declaring bankruptcy;
- the declaration of bankruptcy together with the name and personal identification code of the trustee in bankruptcy, as well as a note stating that he or she is representing the company;
- discontinuation of a declaration of bankruptcy together with an entry showing continued activity by the company;
- discontinuation of a declaration of bankruptcy and deletion of the company from the register;
- termination of bankruptcy proceedings and the deletion of the company from the register or continuation of the company’s activities;
- a compromise and the term for this, with an entry showing continued activity;
- cancellation of a compromise and re-opening of the proceedings to declare bankruptcy, with a note that the company is represented by a trustee in bankruptcy;
- end of the compromise when it has expired, and discharge of the trustee in bankruptcy;
- appointment of a cover pool administrator in accordance with the Covered Bonds Act, together with their name and personal identification code, and a note that they represent the credit institution as regards management and disposal of the covered bond portfolio.
Details of trade bans imposed on a debtor or the person with power to represent them or prohibitions on the pursuit of commercial activities imposed on that person are not entered in the register.
The Estonian commercial register contains the following information on bankrupt legal entities:
- legal person’s name;
- Registry code;
- details of the trustee in bankruptcy;
- details of the members of the management board;
- details of the cover pool administrator;
- date of the bankruptcy order/ruling and the number of the order or civil case.
Is access to information regarding insolvency free of charge?
Access to Ametlikud Teadaanded is free of charge.
No fee is charged online for searches concerning legal entities, self-employed persons and branches of foreign companies, for information about court proceedings or for access to registry card data. However, a fee is charged for all other searches, including historical registry card data and access to annual reports, articles of association and other documents. The rates charged for using the computer data in the commercial register are laid down in a Regulation of the Minister for Justice.
A fee is charged for consulting registry data and file documents at a notary’s office. The fees are set out in the Notaries’ Fees Act. Under the Law on Notaries, the Chamber of Notaries provides access to the public and business files free of charge through one of the notaries’ offices in the counties of Harju, Tartu, Pärnu and Ida-Viru.
Details of trade bans are published and can be accessed free of charge online.
How to search for information on insolvency
You can search in Ametlikud Teadaanded for information concerning the insolvency of a legal entity or natural person by name or personal identification code/registry code, and on the general search page you can also search by keyword. The search is easy to find all announcements published in insolvency proceedings. When the proceedings come to an end, the announcements are archived, with the exception of announcements concerning the termination of proceedings, which remain public for three years.
You can search for a legal entity or self-employed person in the Commercial Register’s information system by business name, name or registry code. The status of a legal entity or self-employed person indicates whether or not that person or entity is bankrupt.
The business register has been merged with the search for insolvency registers on the e-Justice Portal, allowing companies, lenders and investors wishing to invest in other Member States to carry out a background check directly from the insolvency register of another country. As a result of the multilingual solution that has been put in place, the process of acquiring insolvency information across borders is more transparent and the information itself is easier to access. The information is available free of charge. The portal has a basic search function, which enables searches to be made in all the interconnected registers by debtor name, and also advanced search functionality, where the search criteria depend on which country’s register is being searched in.Further interface (presumably in 2021) Official Notices with the e-Justice Portal, where all mandatory information on the publication of insolvency proceedings pursuant to Article 24 of Regulation 2015/848 of the European Parliament and of the Council will be available.
For Estonia, it is possible to search by debtor name and by personal identification code/registry code.
History of the insolvency information service
The Estonian insolvency service has been available since 1 September 1995.
This is a machine translated version of the content. The owner of this page accepts no responsibility or liability whatsoever with regard to the quality of this machine translated text.
Last update: 23/11/2020