Insolvency registers - Estonia
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This page provides a brief overview of the insolvency of the Estonian commercial register and of the information provided by official trade reports.
What information is available in Estonia on insolvency?
Estonia does not have a separate insolvency register but information on the bankruptcy and debts conversion procedures of both legal and natural persons can be found in the official online publication Ametlikud Teadaanded. In addition, the Estonian commercial register and the register of non-profit associations and foundations have included entries in the bankruptcy of legal entities and self-employed persons.
Official announcements shall include, for example, the court and the insolvency administrators:
- notice of the time and place of bankruptcy proceedings and notification of the prohibition of action;
- a declaration of bankruptcy;
- notice of the meeting of creditors;
- a note confirming the initial allocation proposal;
- notice of termination of the bankruptcy proceedings;
- notification of approval of a debt conversion plan.
The announcements published in the full list can be found on the Official Announcements ’ 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:
- the quashing of bankruptcy proceedings without declaring bankruptcy;
- declarations 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;
- the quashing of a declaration of bankruptcy together with an entry showing continued activity by the company;
- the quashing 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;
- the end of a compromise on the passing of this period and the release of an insolvency practitioner;
- the appointment of a covered bond manager, together with its name and personal identification code, as well as an indication that it is a representative of the credit institution in managing and managing the covered bond portfolios.
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 insolvency practitioner;
- details of the Executive Board member;
- collateral administrator data;
- 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 official communications 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.
Details of trade bans are published and can be accessed free of charge online.
How to search for information on insolvency
In the Official Notices, legal and natural person insolvency data can be searched by name or personal identification number/registration number in general search by keyword. The search allows easy access to all pending and published notices in insolvency proceedings. At the end of the procedure, the notices shall be kept in the archives, with the exception of any notice of winding up which shall remain public for a period of 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.
Since autumn 2019, the Ametlikud Teadaanded (Official Notices) is the interface with the e-Justice Portal’s insolvency registers, 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. A set of multilingual solutions will make insolvency information cross-border more transparent and easier to access. The information shall be available free of charge. The portal is designed to search for a simple search which allows search by the debtor’s name of all linked registers and an expanded search, where the search criteria depend on which country’s identification with the debtor. In the case of Estonia, it is possible to search for the debtor’s name and personal identification number/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: 19/07/2019