Töövõtmis

Töövõtmis is a concept in Estonian law that refers to the process of taking over the management of a company or business. It is a legal mechanism that allows a third party to assume control of a company that is in financial distress or has ceased operations. The primary goal of töövõtmis is to prevent the liquidation of the company and to ensure that its assets are preserved and utilized for the benefit of its employees, creditors, and other stakeholders.

The process of töövõtmis is governed by specific legal provisions in the Estonian Commercial Code. It typically involves the appointment of a liquidator or a manager who will oversee the operations of the company during the takeover period. The liquidator or manager is responsible for managing the company's assets, settling debts, and ensuring that the company's operations are carried out in accordance with the law.

Töövõtmis can be initiated by various parties, including creditors, employees, or other interested parties. The decision to initiate töövõtmis is usually made by the court, which considers the interests of all stakeholders and determines whether the takeover is in the best interests of the company and its stakeholders.

Once töövõtmis is initiated, the company enters a period of administration, during which the liquidator or manager works to restore the company's operations or, if necessary, to liquidate its assets. The process of töövõtmis aims to provide a structured and legal framework for the takeover of a company, ensuring that the interests of all stakeholders are considered and that the company's assets are utilized in the most beneficial way possible.