Estonian electric car-sharing company Elmo Rent declared bankrupt, investigation pending
The court has declared the short-term car rental and teledriving company Elmo Rent bankrupt. The company will undergo a public investigation by the Insolvency Service, and it has a substantial tax debt of nearly €448,000.
The court declared Elmo Rent bankrupt on Wednesday. The Insolvency Service will conduct a public investigation to determine whether management failures or other violations caused the insolvency. In early September, management board member Enn Laansoo is scheduled to take the debtor's oath in court. If he fails to appear, the court may impose a fine of up to €3,200 or order his compulsory appearance or detention for up to three months. Bankruptcy trustee Jüri Sirel is accepting creditors' claims until the same deadline. Public records show Elmo Rent's tax debt has grown to nearly €448,000. The company filed for reorganization with the Harju District Court in November 2023 in hopes of overcoming cash-flow difficulties.
