{"id":8297,"date":"2019-10-22T15:19:59","date_gmt":"2019-10-22T12:19:59","guid":{"rendered":"https:\/\/www.nove.ee\/?p=8297"},"modified":"2021-12-30T17:23:48","modified_gmt":"2021-12-30T15:23:48","slug":"corporate-law-review-team-submitted-preliminary-draft-amendments-package-to-the-ministry-of-justice","status":"publish","type":"post","link":"https:\/\/www.nove.ee\/en\/corporate-law-review-team-submitted-preliminary-draft-amendments-package-to-the-ministry-of-justice\/","title":{"rendered":"The Working Group for Review of Estonian Corporate Law submitted the preliminary draft amendments to the Ministry of Justice"},"content":{"rendered":"\n<p>The Working Group for Review of Estonian Corporate Law, composed by Estonian Ministry of Justice and chaired by NOVE Partner\u00a0Dr. Urmas Volens, with NOVE attorneys\u00a0Dr. <a href=\"https:\/\/www.nove.ee\/en\/team\/arsi-pavelts\/\">Arsi Pavelts<\/a>,\u00a0<a href=\"https:\/\/www.nove.ee\/en\/team\/triin-tiru\/\">Triin Tiru<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.nove.ee\/en\/team\/heili-puumann\/\">Heili P\u00fc\u00fcmann<\/a>, has completed and submitted to the Ministry of Justice\u00a0<a href=\"https:\/\/www.just.ee\/et\/eesmargid-tegevused\/oiguspoliitika\/parem-oigusloome\/parema-oigusloome-programmi-ettevalmistavad\">preliminary draft amendments to the Commercial Code and other Company Law Acts<\/a>. Proposals for a total of six bills and their explanatory memoranda were sent to members of the Company Law Review Committee. The Ministry of Justice is awaiting the opinions of stakeholders on the solutions proposed in the draft by November 11, 2019 at <a href=\"mailto:info@just.ee\">info@just.ee<\/a>. The Ministry of Justice then reviews the opinions, formulates its position and sends the draft to a public consultation.<\/p>\n\n\n\n<p>The company law review shall\ninclude a thorough, substantive and systematic analysis, harmonization and\nupdating of the legislation in the area of company law. In order to accomplish\nthis task, the Working\nGroup for Review of Estonian Corporate Law, in\naddition to Estonian law, also analysed a number of laws of the several\ncountries, existing case law and legal literature in Estonian and foreign\nlanguages as part of the initial task given by the Ministry of Justice. As a\nresult of the work, in the autumn of 2018, a nearly 1000-page&nbsp;<a href=\"https:\/\/www.just.ee\/sites\/www.just.ee\/files\/uhinguoiguse_revisjoni_analuus-kontseptsioon.pdf\">analysis- concept<\/a>&nbsp;was completed, which\npresented&nbsp;<em>ca<\/em>&nbsp;50 pages of profound proposals for the further\ndevelopment of Estonian corporate law. In addition, during the preparation of\nthe drafts, a&nbsp;<a href=\"https:\/\/www.just.ee\/sites\/www.just.ee\/files\/tooruhma_liikme_janno_jarve_statistiline_ulevaade_eesti_uhingutest.pdf\">statistical overview of Estonian associations<\/a>&nbsp;was\ncompiled by Janno J\u00e4rve from the&nbsp;<a href=\"https:\/\/centar.ee\/en\/\">Centar \u2013 Estonian Center of Applied Research<\/a>.\nThe purpose of the revision is to reorganize corporate law (primarily the\nCommercial Code) in order to clarify the legal order, facilitate the\nimplementation of the law, reduce the red tape as well as increase the\ninternational competitiveness of Estonian company law.<\/p>\n\n\n\n<p>In addition to Dr. Volens, the\nWorking Group included leading corporate law experts Dr. Martin K\u00e4erdi\n(Associate Professor at the University of Tartu, Ellex), Sander K\u00e4rson\n(Assistant Professor at the University of Tartu, TGS Baltic), Dr. Villu K\u00f5ve\n(Associate Professor at the University of Tartu, Chief Justice of the Supreme\nCourt), Dr. Arsi Pavelts (NOVE), Dr. Kalev Saare (Associate Professor at the\nUniversity of Tartu, COBALT), Dr. Andres Vutt (Associate Professor at the\nUniversity of Tartu, Magnusson), Dr. Margit Vutt (Lecturer at the University of\nTartu, Supreme Court). Attorney-at-law Heili P\u00fc\u00fcmann and attorney-at-law Triin\nTiru also participated in the work of the corporate law review from NOVE.<\/p>\n\n\n\n<p>The revision of corporate law\nwas funded by the European Social Fund and the Ministry of Finance of Estonia.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Working Group for Review of Estonian Corporate Law, composed by Estonian Ministry of Justice and chaired by NOVE Partner\u00a0Dr. Urmas Volens, with NOVE attorneys\u00a0Dr. Arsi Pavelts,\u00a0Triin Tiru\u00a0and\u00a0Heili P\u00fc\u00fcmann, has completed and submitted to the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[85],"tags":[],"class_list":["post-8297","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - 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