Four situations where we help
When the company can't pay its bills
Some companies in payment difficulties can be turned around, some cannot. This is called reorganisation. We'll look together at whether it even makes sense in your situation.
When the company has to be wound up
Dissolving a company isn't just deleting it from the Business Register. Doing it wrongly leaves the obligations in place. We do it properly.
When you need numbers before a decision
A financial consultation means we go through the numbers while the decision is still open.
Documents
Articles of association, meeting minutes, employment contracts, internal rules, occupational safety documents.
The first conversation is confidential and free
You don't have to decide anything first. We'll talk through what's actually happening with your company, and only then look at the options.
Ask for confidential adviceThe first step is assessing the situation
In payment difficulties the most important thing is knowing the real position: how large the liabilities are, when they fall due and how much money actually moves. Without that picture decisions get made on instinct.
We review debts, receivables and contracts and write down what is mandatory and what is negotiable. The first conversation is confidential and stays with us.
- a list of liabilities and due dates
- a short cash flow forecast for the coming months
- negotiating payment schedules
- the decision: continue, wind down or liquidate
Winding down done properly
If the decision is to stop, it has to be done in the right order: the dissolution resolution, liquidation proceedings, notifying creditors, the final report and deletion from the register.
Each stage has its own deadlines and returns. If those are missed, the company stays hanging in the register and obligations shift to the board member. We keep those steps tracked and done on time.
The board member's liability
A board member is responsible for keeping the bookkeeping in order, filing the reports and acting in time once insolvency becomes apparent. If difficulties are hidden and new obligations keep being taken on, the liability can become personal.
That is why we write down at the very start what is already overdue and what has to be fixed first: unfiled returns, a missing annual report, tax arrears to be rescheduled. Those are also the first things the Tax and Customs Board and creditors look at.
- bringing unfiled returns and reports up to date
- a tax arrears payment schedule backed by a cash flow forecast
- written agreements with creditors
- documenting decisions and the reasoning behind them
If the company continues
Not every case of payment difficulty ends in closure. Often it is enough to bring costs in line with actual revenue, put due dates on receivables and reschedule one or two large obligations.
In that case we build a cash flow forecast for the coming months and agree what gets monitored each month. If the plan does not hold, it shows immediately and the decision can be made early rather than when no options are left.
Frequently asked questions
When should you act on payment difficulties?
As soon as it is clear that the coming months will not cover the obligations. The earlier the situation is reviewed, the more room there is for payment schedules and agreements. Waiting reduces the options and increases the board member's liability.
How does liquidation differ from bankruptcy?
Liquidation is an orderly wind-down started by the company itself, where liabilities can still be covered. Bankruptcy is a court procedure for a company that is permanently insolvent. We assess which route fits your situation.
How long does winding down a company take?
Liquidation usually takes at least four to six months, because the law sets a period for creditors to submit claims. If the bookkeeping is in order and there are few obligations, most of that time is spent waiting for deadlines rather than working.
What happens if a company is wound down in the wrong order?
The register rejects the entry or the company is never deleted, so the obligations and the duty to file returns continue. Penalty payments and fixing it later cost more than doing it in the right order from the start.
Can tax arrears be rescheduled?
Yes, a payment schedule can be applied for from the Estonian Tax and Customs Board. The application has to show how the difficulty arose and how the schedule will realistically be met. We prepare it together with a cash flow forecast.
Is the conversation confidential?
Yes. The first conversation is confidential and free, and we do not share its content with anyone. If no cooperation follows, everything stays between us.