26.2.2016

Trainers’ House – Corporate Restructuring

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Change management company Trainers’ House applied for corporate restructuring at the end of 2014. Castrén & Snellman partner Mika Ilveskero, who specialises in restructuring proceedings and corporate law, was appointed as the administrator.

The restructuring programme for Trainers’ House was far from an off-the-rack solution. The claims of unsecured creditors were not cut at all. The solution called for strong commitment from the shareholders as well as from the companies and private individuals financing the company. This is because a significant portion of the company’s debt was converted into shares in the company. The restructuring programme was drafted quickly, and the District Court was able to confirm it already in September 2015.

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