Bankruptcy Petition Assistance

Filing for bankruptcy is a legal decision with lasting consequences — for the company, its board, and its creditors. We make sure it is done correctly, on time, and with the board protected.

When is a bankruptcy petition needed?

Under Estonian law, the management board must file a bankruptcy petition without delay, and no later than 20 days after the company becomes permanently insolvent. Failing to file on time can expose board members to personal liability for the company’s debts and, in serious cases, to criminal liability. If your company can no longer pay its debts and the situation is not temporary, the time to act is now.

What we do

•             Insolvency assessment — we analyse the company’s financial position and determine whether the company is permanently insolvent and whether filing is mandatory, optional, or premature

•             Preparation of the bankruptcy petition — a complete, court-ready petition with the required proof of insolvency

•             Supporting documentation — list of creditors and debts, overview of assets, explanation of the causes of insolvency, board resolutions

•             Deposit and cost guidance — advice on the court deposit for covering the proceedings and options when the company has no funds

•             Communication with the court and trustee — we support you through the hearing and cooperate with the appointed trustee

•             Board member protection — we document the timeline of decisions so the board can demonstrate it acted diligently and on time

Who is this service for?

•             Companies that can no longer meet their obligations

•             Board members who need certainty about their filing obligation and personal risks

•             E-residents and foreign owners of Estonian companies facing insolvency

•             Creditors considering filing a bankruptcy petition against a debtor

Why us?

Our team has hands-on experience from a bankruptcy trustee’s office and has worked with insolvency proceedings at every level, from debt restructuring to full bankruptcy administration. The work is led by a registered financial expert with a master’s degree in law and finance, long experience in auditing, and years of practical work as a financial controller and CFO — we know both the courtroom side and the real business behind the numbers.

How it works

1.         Free initial consultation — we review your situation confidentially

2.         Insolvency analysis and recommendation — filing, restructuring, or liquidation

3.         We prepare and file the petition — complete and court-ready

4.         Support until the proceedings begin — court, trustee, creditors