accountant raamatupidaja, arveametnik prudent mõistlik designate määrma, osutama, tähistama, ametisse määrama resort abinõu, väljapääs, vahend, abi, abi paluma hefty turske, kopsakas impersonal ebaisikuline, umbisikuline act õigusakt, seadus, dokument,tegutsema, toimima addition lisamine, lisa, täiendus Lk 42 approval heakskiit, nõusolek custodianship pot pott, kauss custodian haldur, haldaja, järelvalvaja, hooldaja either emb-kumb, kumbki Lk 43 reasonable mõistlik, arukas, õiglane
The procedures can be initiated only if a company is insolvent or if it is expected that it will not be able to meet its financial obligations. The acceptance of an application by the court and commencement of insolvency procedures entails a suspension of all the enforcement (execution) measures initiated against the debtor. Additionally, the accrual of the interest or penalties to the outstanding debts shall be suspended. Upon commencement of insolvency procedures a custodian is appointed who monitors the man- agement of the company, protects the debtor's property, studies its financial position and submits the information to the mediation council. The latter is composed in accordance with the agree- ment between the debtor and the creditors. The mediation council examines the position of the insolvent company, studies the ways to reconcile the financial difficulties faced by the company,
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