Article „Decision of Supreme Court provided new possibility to prevent withdrawal of assets from companies“ by Tambet Laasik
On 18 October 2015, the article „Decision of Supreme Court provided new possibility to prevent withdrawal of assets from companies“ by attorney-at-law Tambet Laasik was published in Postimees Online.
In the article, the author explains in the light of the latest decision of the Supreme Court that by now it is possible for a company to annul a harmful transaction made by a board member in case the other party of the transaction has also acted in bad faith. For example, if a board member transfers the assets of a company for only cents to the company owned by his spouse or attempts to hide the assets of a company for his benefit in order to avoid bankruptcy or tax proceeding.
This article provides a useful overview of the nowadays better protection of the interest of an entrepreneur.
The article in Estonian can be read here.