Paul Varul

Paul Varul

Senior Partner

Tartu, Tallinn; Estonia

According to the most renowned legal directories Legal 500 and Chambers & Partners, Paul Varul is "extremely knowledgeable", "widely respected" and "the father of Estonian bankruptcy law".

‘I would specifically like to highlight and mark such top notch level professional as Paul Varul’- Legal500

Leading Individual 2021 v2. Kirsti Martin Paul Helmut Katri     chambers europe 44 v2     chambers global 44 v2

  • About

    Paul Varul has advised a wide range of Estonian and international clients on all aspects of private law. He has extensive knowledge and experience in the field of contract law and insolvency law. Paul Varul is renowned for his competence in dispute resolution, having represented clients in several high-profile actions, including international arbitration in Stockholm, London and Washington. Paul Varul has also served as an arbitrator for the Arbitration Institute of the Stockholm Chamber of Commerce and for the Arbitration Court of the Estonian Chamber of Commerce and Industry. He has also acted as an expert witness in several international arbitration proceedings in Stockholm, London, Washington and the International Centre for Settlement of Investment Disputes.

    Paul Varul is a renowned expert in insolvency law. He has been one of the main authors of the Estonian Bankruptcy Act, is the Chairman of the Insolvency Law Expert Commission at the Ministry of Justice, is a member of the International Insolvency Institute and INSOL Europe and has been involved in many bankruptcy proceedings as a representative of both debtors and creditors.

    Paul Varul is also a recognized expert in contract law, being one of the authors the model law of central importance in the EU, the Common Frame of Reference (Definitions, Principles and Model Rules of European Private Law). As the Chairman of the Expert Commission of new private law development, Paul Varul has been involved in drafting all the major private law legal acts in Estonia, such as the Law of Property Act, General Part of the Civil Code Act, Family Law Act, Law of Succession Act, Law of Obligations Act, Commercial Code, Bankruptcy Act, Reorganisation Act and Electronic Communications Act. He is also one of the compilers and authors of the quoted articles of the Civil Code General Act, the Law of Property Act and the Law of Obligations Act.

  • Major Projects
    • 06.04.2023

      Court dismissed the claim of Saaremaa Laevakompanii and Väinamere Liinid against Port of Tallinn subsidiaries

      On 31 March 2023, Harju County Court dismissed the claim submitted by the bankruptcy administrator of AS Saaremaa Laevakompanii (SLK) (bankrupt) and Väinamere Liinid OÜ against the subsidiaries of Port of Tallinn.

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    • 09.02.2021

      TGS Baltic Successfully Represented Toomas Tamm, the Former Owner of Kiviõli Keemiatööstus, In a Dispute That Concerned a Claim Arising From a Guarantee Issued by AP-Terminaal

      We successfully represented entrepreneur Toomas Tamm, the former owner of Kiviõli Keemiatööstus, which deals with oil shale extraction and production of shale oil, thermal energy, and power, in a dispute that concerned a claim arising from a guarantee issued by defendant OÜ AP-Terminaal.

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    • 11.07.2017

      The town of Loksa, Nõo municipality and Luunja municipality escaped forced merger

      The firm’s lawyers led by Triin Raudsepp successfully represented Nõo municipality, Luunja municipality and the town of Loksa in dealings with the government regarding the forced merger proposed by the government.

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    • 21.12.2016

      The Supreme Court issued a favourable decision in the main matter of Administrative Reform Act

      Attorney at law and senior partner Paul Varul led the team that represented the twenty-three municipalities in the Estonian Supreme Court in the matters regarding Administrative Reform Act, stating that the reform violates the constitutional rights of municipalities in too many points.

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    • 31.01.2015

      Court overturns vote of no confidence in Viimsi Rural Municipality Council

      Senior Partner Paul Varul along with Vitali Šipilov advised political leaders of Viimsi on a dispute concerning a vote of no confidence.

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    • 02.08.2013

      Representing the City of Pärnu in a dispute over a property at Esplanaadi 10

      The firm, led by partners Paul Varul and Martin Tamme, represented the City of Pärnu against OÜ Herder in a dispute over the contract for sale of a property at Esplanaadi 10, which resulted in the biggest court victory in the city’s history.

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    • Representing TS Laevad and TS Shipping in a 24 MEUR claim

      Representing TS Laevad and TS Shipping against Saaremaa Shipping Company and Väinamere Liinid in a 24 MEUR claim.

    • Representing high-net worth individual and railway magnate Marcel Vichmann

      Representing high-net worth individual and railway magnate Marcel Vichmann via its entity Best Idea against foodstuffs businessman Oliver Kruuda and his company Rubla in a dispute over 15 MEUR.

    • Acting as arbiter in the Arbitration Court of Nasdaq Tallinn

      Acting as arbiter in the Arbitration Court of Nasdaq Tallinn in the matter of Olympic Entertainment Group vs. Nasdaq Tallinn Stock Exchange.

    • Serving as an arbitrator for the Arbitration Institute of the Stockholm Chamber of Commerce

      Serving as an arbitrator for the Arbitration Institute of the Stockholm Chamber of Commerce in the matter of Alta Foods versus Luterma (former Kalev) in their dispute over the sale of the biggest foodstuffs producer in Estonia, Tere.

    • Advising Luminor as a creditor in a bankruptcy proceeding

      Advising the leading independent main financial services provider in the Baltics, Luminor (Nordea Bank Finland Plc Estonian branch), as a creditor in a bankruptcy proceeding.

    • Serving as an arbitrator for the Arbitration Institute of the Stockholm Chamber of Commerce

      Serving as an arbitrator for the Arbitration Institute of the Stockholm Chamber of Commerce in the matter of Tschudi Shipping Company versus the Republic of Estonia.

    • Advising Luminor in MRP Ärigrupp’s bankruptcy proceedings and disputes

      Advising the leading independent main financial services provider in the Baltics, Luminor (formerly DNB Bank Estonian branch), in MRP Ärigrupp’s bankruptcy proceedings and disputes.

    • Representing the Bank of Estonia and Financial Supervision Authority in bankruptcy proceedings

      Representing the Bank of Estonia and Financial Supervision Authority and different bankrupt credit institutions and insurance companies (EVEA Bank, Inko Balti Bank, Tartu Commercial Bank, ERA Bank, ASA Insurance, AB Life Insurance, Polaris Insurance) in bankruptcy proceedings.

    • Acting as an expert in the arbitration court of the ICSID

      Acting as an expert in the arbitration court of the International Centre for Settlement of Investment Disputes (ICSID) in disputes in the matter of Sampo Pank (former Postipankki Oy), OKO Bank Plc (former Okopank Osuuspankkien Keskuspankki Oyj) and VTB Bank (Germany) AG (formerly Ost-West Handelsbank AG) versus the Republic of Estonia (through the Ministry of Finance) concerning the Republic of Estonia’s investment protection contracts with the Federal Republic of Germany and the Republic of Finland, and several corporate and insolvency matters.

    • Representing Eesti Maapank in one of the largest bankruptcy cases in the Baltics

      Representing the Estonian commercial bank, Eesti Maapank, in one of the largest bankruptcy cases in the Baltics and in many related court proceedings.

    • Representing City of Pärnu against real estate company Herder

      Successfully representing City of Pärnu in a dispute over a purchase and sales agreement against real estate company Herder. This is the largest case won in the history of the City of Pärnu.

    • Representing Swedbank in insolvency disputes

      Representing Swedbank as a third party in Alberta Trade vs. Buruktal Nickel Plant insolvency disputes and related commercial dispute in the Court of St Petersburg and Leningrad Oblast (Russia). The case concerned the question of ownership of precious metals with a value of 19.5 million dollars. Swedbank won in all court instances.

    • Representing the Estonian Centre Party in a high-profile dispute over the lawfulness of EUR 730,000 in guarantee letters

      Representing the Estonian Centre Party in a high-profile dispute in the arbitration court of the Estonian Chamber of Commerce and Industry over the lawfulness of EUR 730,000 in guarantee letters by a former secretary-general and issued to the party’s campaign manager, advertising agency Midfield.

    • Representing 24 Estonian regarding the administrative reform

      Representing 24 Estonian municipalities in high-profile constitutional disputes against the Republic of Estonia concerning the lawfulness of the administrative reform, i.e. forced mergers of municipalities. The ruling of the Supreme Court enabled several municipalities to evade a forced merger, i.e. to remain independent municipalities.

  • CV

    Memberships

    2011–2016
    Leader of the Estonian work group of The Scandinavian/Baltic Network on Insolvency
    2011
    Founding Member of The European Law Institute
    2008
    INSOL-Europe and INSOL-International
    2007
    International Insolvency Institute
    2006–2009
    Compilation and Reduction Team for Common Frame of Reference, operating under the auspices of the European Commission
    2006
    Expert Commission in Insolvency Law within the Ministry of Justice
    2003–2008
    Study Group on European Civil Code
    2002
    Academy of European Private Lawyers
    1999–2002
    Chairman of the Expert Commission for the Law of Obligations Act and the General Part of the Civil Code Act
    1994
    Estonian Bar Association
    1992–1999
    Chairman of the Head Commission for the development of the Estonian Civil Code Act and Commercial Code

    Professional career

    Since 2017
    Senior Partner, law firm TGS Baltic (formerly Varul)
    1994–2017
    Senior Partner, law firm Varul
    1995–1999
    Minister of Justice of the Republic of Estonia
    1992–2015
    Civil Law Professor, University of Tartu

    Education

    1985
    St. Petersburg University, Legal Science, PhD
    1975
    University of Tartu, Faculty of Law, BA (cum laude)