Debtor Options in Estonian Enforcement Proceedings and Debt Rescheduling
Understanding the Estonian enforcement system, debtors' demographics, and options for debt rescheduling in Tallinn. Learn about the role of bailiffs, asset distribution, and conditions for debt renegotiation through court or agreement with claimants.
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Presentation Transcript
Debtor in Estonian enforcement proceedings and options for debt rescheduling Tallinn Bailiff and Trustee in Bankruptcy Elin Vilippus
Estonian Estonian enforcement system enforcement system Freelance bailiffs 14% 14% No refunds from the government Outcome depends on 1.debtors financial situation 2.bailiff s activity 86% 86% debtors in Estonia
men vs women and their age 3810 4000 men women 3500 2729 3000 2379 2500 2000 1384 1381 1500 1088 962 1000 704 348 102 21 240 500 63 38 0 -20 21-30 31-40 41-50 51-60 61-70 71-
Assets 12% has at least one property 5% has at least one vehicle with a valid insurance, but most of them are old (1998-2003) 45 45% have nothing % have nothing no income or assets 38% of debtors have 2-5 pending enforcement cases 10% have 21 or more pending proceedings. The enforcement cases of ca 35% of debtors are processed by 3-5 bailiffs at the same time.
Debt Debt rescheduling rescheduling At the stage of enforcement proceedings it is, as a rule, too late for rescheduling quite strict conditions apply. Two options: Two options: 1. Agreement with a claimant 2. Application to the court
Agreement with a claimant Is made on claimant s terms Bailiff has no right to alter those conditions but Bailiff gives claimant advice on debtor s financial perspective
Rescheduling through court Enforcement proceedings must be extremely extremely unfair unfair; Conditions must be exceptional exceptional; Interests of the claimant Interests of the claimant have to be taken into account. CEP 45: states the right to apply for rescheduling is interpreted in restrictive restrictive manner
Rescheduling through court Exceptional circumstances: debtor has small advanced age small children children, is seriously ill age; other similar circumstances; ill or is in a very losing one s home is, as a rule, not considered to be exceptional; Goal Goal: to achieve optimal balance between creditor s and debtor s rights not to replace/postpone bankruptcy
Thank you! Merci! Tallinn Bailiff and Trustee in Bankruptcy Elin Vilippus
