New Penal Code clamps down on credit institutions
October 2002The new Penal Code of Estonia recently entered into force. Among other things, the code introduces new punishments for violations in the banking sector. Read more
Impacts of the Contracts and Torts Act on M&A agreements
June 2002On 26 September 2001, the Estonian Parliament (Riigikogu) passed the Contracts and Torts Act. The Act is expected to take effect between 1 July 2002 and 1 January 2003, along with a separate implementing act. The Act repeals the only part of the Soviet-imposed Civil Code still in force. Read more
Parliament overhauls Credit Institutions Act
April 2002On December 13 2001 the Estonian Parliament passed an act introducing significant changes to the Credit Institutions Act 1999. Most of the changes took effect on January 1 2002 whereas others will enter into force upon Estonia's accession to the European Union. Read more
Impact of the Contract and Tort Act on M&A agreements
March 2002The new Contract and Tort Act is expected to take effect with separate implementing acts between July 1 2002 and January 1 2003. Previously, contractual deviations from the Soviet Civil Code were permitted only in certain cases (although this interpretation shifted towards freedom of contract in 1991 when Estonia regained its independence). Read more
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