Arbitration(en) Archives - Castrén & Snellman

A large Finnish group – Construction contract dispute

We offer you Finland’s leading team of arbitration specialists.

We have vast experience of acting as counsel or serving as arbitrators in ad hoc proceedings and under the main institutional rules, including those of the FAI, ICC, LCIA, SCC, DIS, Swiss Chambers and UNCITRAL. When necessary, our litigation team is available in support of arbitration.

Our assignments typically concern disputes related to mergers and acquisitions, energy, IT and telecommunications, construction and engineering, banking and finance, corporate law and securities, insurance, sale of goods as well as distribution and agency agreements. We also regularly advise clients on disputes in jurisdictions other than Finland.

Our arbitration expertise is highly respected by our peers, which is reflected by the positions of trust held by many of our experts.

The Legal 500, Chambers Europe and Chambers Global rank our dispute resolution services as tier 1.

Latest references

Huhtamaki – EUR 450 million sustainability-linked syndicated revolving credit facility

We advised Huhtamaki Oyj in relation to a EUR 450 million sustainability-linked syndicated multi-currency revolving credit facility loan agreement (“RCF”) with a maturity of five years. The RCF refinances an existing EUR 400 million sustainability-linked syndicated revolving credit facility signed in January 2021 and will be used for general corporate purposes of the Group. The RCF has two one-year extension options at the discretion of the lenders. The Mandated Lead Arrangers and Bookrunners of the RCF are Citi, Nordea Bank Abp, Skandinaviska Enskilda Banken AB (publ), BNP Paribas, Commerzbank Aktiengesellschaft, Danske Bank A/S, DBS Bank Ltd., London Branch, J.P. Morgan SE, Landesbank Hessen-Thüringen Girozentrale, OP Corporate Bank plc, Raiffeisen Bank International AG and Standard Chartered Bank AG.

A large Finnish group – Construction contract dispute

We represented a mutual real estate company belonging to a large Finnish group in arbitration proceedings against a construction company. The arbitral tribunal rejected the construction company’s claims in their entirety and ordered the construction company to reimburse our client for the costs of the arbitration proceedings in full. The dispute concerned the contract price under the construction contract, which was agreed to be determined on the basis of our client’s yield requirement and the rent under the lease agreement for the building in question. The parties disagreed on the indexation clause applicable to the rent adjustment and its impact on the contract price.

Finnish industrial company – Decision to waive prosecution for an occupational safety and health offence

We assisted a major Finnish industrial company and two employees of its safety organisation in criminal proceedings concerning an occupational safety and health offence. The accident occurred at a common workplace where several other employers were also operating at the time of the incident. During the criminal investigation, the police suspected, among other things, two employees of the company of having committed an occupational safety and health offence. The police also investigated the company’s criminal liability. We examined the safety practices applied in the company and the common workplace, and the roles of the companies and individuals involved in the incident. We justifiably argued that our clients had acted diligently with respect to their duties. The prosecutor concluded that there were no grounds to prosecute our clients, so the prosecutor decided not to press charges against the company and its two employees.

Fortum – Sale of recycling and waste business

We are acting as the lead counsel to Fortum in a cross-border transaction in which Fortum is selling its recycling and waste business. The business is sold to thematic impact investing firm Summa Equity through its portfolio company NG Group. The debt-free purchase price is approximately EUR 800 million. The transaction is subject to authority approval and customary closing conditions. Fortum’s recycling and waste business to be sold comprises municipal and industrial waste management and end-to-end plastics, metals, ash, slag and hazardous waste treatment and recycling services. These businesses are located in Finland, Sweden, Denmark and Norway and currently employ approximately 900 employees.

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