Trustees in bankruptcy

A trustee in bankruptcy is a trustee of a court who controls the economic activities of an insolvent debtor and protects the interests of creditors. A trustee in bankruptcy is the legal representative of a debtor who enters into transactions with the bankruptcy estate on behalf of the debtor and represents the debtor in proprietary disputes. Sworn advocates and their senior clerks as well as persons who have passed the examination of trustees in bankruptcy before a committee formed by the Minister of Justice can act as trustees in bankruptcy. A person who has passed the exam is issued a trustee's certificate for an unspecified term.

The register of trustees in bankruptcy is maintained by the Ministry of Justice. The data of a person who has the right to act as a trustee in bankruptcy are entered in the register. Trustees in bankruptcy are obligated to provide the registrar with correct data. The data of sworn advocates or senior clerks of sworn advocates are not entered in the register. You can find them on the homepage of the Estonian Bar Association.

A trustee in bankruptcy reports to the court, the general meeting of creditors and the bankruptcy committee elected by the creditors. The main body exercising supervision over the bankruptcy proceedings and the trustee in bankruptcy is the court. The court may ask the trustee in bankruptcy for information and explanations at any time. The court has the right to fine the trustee in bankruptcy (up to EEK 100,000 per violation) and remove him or her from office. State supervision over the activities of the trustee in bankruptcy is exercised by the Ministry of Justice and the Ministry has the right to address the court for fining or removing the trustee in bankruptcy.