maksevõimetust

Maksevõimetus is the state in which an individual or organization cannot meet debt payments and other financial obligations as they come due. It is an indicator of impaired financial health and can precede formal insolvency, but it does not in itself define bankruptcy.

Causes of maksevõimetus include sustained revenue shortfalls, excessive leverage, high fixed costs, economic downturns, poor financial management, and over-reliance on credit. The condition can be temporary or persistent, with lasting effects on creditworthiness and access to financing.

Indicators and consequences commonly associated with maksevõimetus include missed payments, frequent overdrafts, accumulation of arrears, creditor inquiries, and legal actions for debt collection. Outcomes may involve higher interest costs, damaged credit history, and, in many jurisdictions, initiation of insolvency or restructuring proceedings.

Legal framework and processes: In Estonia insolvency is addressed under the bankruptcy law (pankrotiseadus). Personal insolvency (isiklik pankrot) and corporate insolvency (ettevõtte pankrot) aim to restore solvency or to liquidate assets. Proceedings may involve restructuring plans or the appointment of a trustee or administrator to manage the process.

See also and terminology: The term maksevõimetus is closely related to maksevõime (solvency, ability to pay). Related concepts include debt restructuring, loan consolidation, and bankruptcy. This article provides a general overview; for concrete matters of law, consult the applicable statutes and professional guidance.