Enforcement, Reorganisation and Bankruptcy Proceedings

The attorneys of NOVE have extensive experience and competence in advising clients in various bankruptcy, enforcement and reorganisation proceedings, as well as in issues regarding the restructuring of businesses. Advising comprises out-of-court proceedings in relation to debtors, bodies conducting proceedings and creditors, as well as judicial and extrajudicial protection of rights while resisting business takeover attempts, filing of insolvency petitions and enforcement of claims for compensation. NOVE’s attorneys have participated in the development of various pieces of legislation regarding insolvency law and they contribute regularly to the legislative drafting and development in this area. 

In relation to enforcement, reorganisation and bankruptcy proceedings, we provide assistance to our clients in the following areas:

  • Initiating bankruptcy, enforcement, reorganisation and restructuring proceedings against debtors 
  • Preparation of petitions, claims, appeals and other documents required for enforcement, reorganisation and bankruptcy proceedings 
  • Defending clients as creditors in bankruptcy, enforcement and reorganisation proceedings, including filing of appeals against the decisions of the bodies conducting proceedings and filing claims for compensation 
  • Filing claims in bankruptcy and reorganization proceedings, defending and contesting of claims 
  • Defending clients against unfounded insolvency petitions, business takeover attempts and unfounded vexatious claims 
  • Defending clients’ interests in litigation related to bankruptcy, enforcement and reorganization proceedings, including in disputes regarding acceptance and contestation of claims, exclusion and recovery of property 
  • Representing clients at general meetings of creditors and in the bankruptcy committee as well as in communication with trustees in bankruptcy, bailiffs and reorganisation advisers, as well as representing clients in cooperation with creditors 
  • Preparing restructuring plans and holding respective negotiations 
  • Representing trustees in bankruptcy and reorganisation advisers in complicated litigation cases

Our portfolio includes:

  • Representation of Elveda OÜ (former parent company of AS Tere) in various large-scale bankruptcy and company law disputes
  • Representation of Baltic Agro AS as the largest creditor in the reorganization proceeding of Kullamäe Agro OÜ 
  • Representation of Baltic Agro AS as the largest creditor in the debtor de-commitment procedure 
  • Representation of Baltic Agro AS in various disputes related to recovery of property (declaration of invalidity of a marital property contract, division of joint property, restitution of property)  
  • Representation of Kalma Kaubandus AS in various disputes regarding recovery of property (declaration of invalidity of a marital property contract, division of joint property, restitution of property)
  • Representation of Mediaprint Gmbh in disputes regarding initiation of bankruptcy proceedings against a debtor and recovery of harmful transactions 
  • Representation of Kermon Invest OÜ in disputes regarding declaration of disallowance of compulsory enforcement 
  • Representation of Media-Print Group GmbH in disputes regarding initiation of bankruptcy proceedings against a debtor and recovery of harmful transactions
  • Representation of financial and credit institutions in bankruptcy proceedings and related litigation cases (defence of claims, recovery of property, etc.) 
  • Representation of a leading property developer in various bankruptcy proceedings and related litigation cases 
  • Representation of trustees in bankruptcy in various complicated disputes regarding defence of claims, exclusion of property, filing of claims for compensation and recovery of transactions 
  • Representation of various large and medium-sized enterprises in bankruptcy, enforcement and reorganization proceedings and related litigation cases

Members of the team of enforcement, reorganisation and bankruptcy proceedings:

Arsi Pavelts (team leader)
Veikko Puolakainen 
Urmas Volens
Veiko Vaske
Indrek Niklus
Heili Püümann