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Estonia (267) > Civil, commercial and family law (11)

Original name: Võlgade ümberkujundamise ja võlakaitse seadus
Name: Law on Debt Restructuring and Debt Protection (No. RT I, 06.12.2010).
Country: Estonia
Subject(s): Civil, commercial and family law
Type of legislation: Law, Act
Adopted on: 2010-11-25
Entry into force:
ISN: EST-2010-L-90392
Link: https://www.ilo.org/dyn/natlex/natlex4.detail?p_isn=90392&p_lang=en
Bibliography: Legislation on-line Legislation on-line Official Gazette, Riigi Teataja, Estonia PDF in English PDF in English (DOC.NORMES) (consulted on 2012-07-17)
Legislation on-line Legislation on-line Official Gazette, Riigi Teataja, Estonia PDF in Estonian PDF in Estonian (DOC.NORMES) (consulted on 2012-07-17)
Abstract/Citation: Aims at facilitating the restructuring of the debts of a natural person having solvency problems (debtor), in order to overcome the solvency problems and avoid bankruptcy proceedings. Article 10 of the law provides, inter alia, that a sole proprietor applying for the reorganisation of an enterprise shall explain that the enterprise needs reorganisation and that the sustainable management of the enterprise following the reorganisation is likely. They must also indicate the consequences of reorganisation for the employees of the enterprise.

Makes consequential amendments to the following laws:
- Law of Property Act (RT I 1993, 39, 590; 2010, 38, 231);
- Taxation Act (RT I 2002, 26, 150; 2010, 72, 544);
- Bankruptcy Act (RT I 2003, 17, 95; RT I, 12.11.2010, 1);
- State Fees Act (RT I 2010, 21, 107; 2010, 72, 542);
- Code of Civil Procedure (RT I 2005, 26, 197; 2010, 38, 231);
- General Part of Civil Code Act (RT I 2002, 35, 216; 2010, 38, 231);
- Security Act (RT I 2003, 68, 461; 2010, 22, 108);
- Code of Enforcement Procedure (RT I 2005, 27, 198; 2010, 38, 231);
- Law of Obligations Act (RT I 2001, 81, 487; 2010, 77, 590);
- Law of Obligations Act, General Part of the Civil Code Act and Private International Law Act Implementation Act (RT I 2002, 53, 336; 2010, 77, 590).
Amended text(s):

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