Wed, 27 Apr 2011: Plaude-Relingere ordered to pay…

The reason for this was Kolonna and Plaude-Relingere’s multiple failures to honor their obligations to Parex. Plaude-Relingere, founder and shareholder of the beauty salon/cosmetics compan...

Wed, 12 Nov 2008: Taking Counsel: Keep your cash where your loan is …

Nevertheless the average "home loan" in Estonia is about 1 million kroons (approximately 64,000 euros), which means that if the client would have more cash in his/her account than the guaranteed a...

Thu, 9 Oct 2008: Taking Counsel: New, more effective bankruptcy procedure in effect …

Pursuant to the former provisions, the creditor was supposed to wait for three months after the obligations fall due before suing the debtor. Currently, the 30-day term for noticing the debtor reg...

Wed, 27 Feb 2008: Taking counsel: Liability of a company director: who has a right to file…

In cases where bankruptcy proceedings are not initiated or the director continues to perform his functions, the question arises as to how interests can be protected and who is entitled to file a ...

Wed, 5 Jul 2006: Police open case against Werol…

Thus far the criminal proceeding was launched not against a concrete person but with regard to the facts, prosecutors said. As the Tartu County Court has started bankruptcy proceedings against th...

Wed, 1 Feb 2006: Taking counsel…

According to the Enterprise Bankruptcy Law, the inability of an enterprise to meet its financial liabilities confers to creditors, owners or the general manager of an enterprise the right to comme...

Wed, 23 Nov 2005: Werol ex-CEO accused of abusing authority…

Werol is under threat of bankruptcy proceedings arising from a claim by Biodiesel. Biodiesel is claiming almost 141 million kroons from Werol. The latter decided to pull out of a 10-year cooperati...

Wed, 7 Sep 2005: Brazauskas sacks insurance overseer …

Tadas Kelpsas, a legal representative of plaintiff Autover Lietuva, said, "We will decide on lodging an appeal following the examination of that decision and information available in the bankruptc...

Wed, 31 Aug 2005: State to pursue insurance watchdog chief for lack of professionalism…

"The second conclusion is that the commission did not perform its duty to inform, in a proper way, the government and the public about the situation regarding insurance supervision," he said. The ...

Wed, 24 Aug 2005: Insurance bankruptcy creates political storm…

24, before deciding whether to dismiss Vasilis-Vasiliauskas. The commission reports on the domestic insurance market to the Cabinet twice a year.The Vilnius regional court decided on Aug. 18 to st...

Thu, 1 Jul 1999: Insurers choose risky business …

One-third of the total construction cost (130 million kroons) was to be financed by the AB Insurance Group and the rest by Uhispank. When the real estate market went down, the insurance company lo...

Thu, 15 Oct 1998: Another bank in trouble…

ERA Pank stated in a letter it was having temporary problems with insolvency and was unable to satisfy the claims of its customers. It asked for the temporary suspension of its license. The move c...
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