Alexis Huldén

Senior Associate, Member of the Finnish Bar

Services

  1. Dispute Resolution
  2. Employment
  3. Corporate Crime & Internal Investigations

Contact details

I specialise in dispute resolution and criminal proceedings and my work encompasses both court proceedings and domestic and international arbitration. I provide expert advice to clients on contract interpretation, tortious claims and regulatory matters across various business sectors, including energy, manufacturing, governmental entities and NGOs. With extensive experience in complex cross-border matters and issues of private and public international law, I am well-equipped to handle a wide range of legal challenges.

Recently, I have worked on disputes concerning supply agreements, professional negligence cases and criminal matters involving embezzlement, fraud and money laundering.

In addition to my practical experience, I have honed my skills in academia and legal research. My academic background has provided me with a strong foundation in legal theory and principles and has equipped me with the ability to analyse complex legal issues and develop innovative solutions. This combination of practical and academic expertise allows me to offer clients well-rounded and informed legal advice.

Latest references

The Finnish State – The Court of Appeal dismissed the action of Peter Fryckman against the Finnish State
We successfully advised the Finnish State/the Ministry of Justice in a declaratory action in which the Helsinki Court of Appeal dismissed the claims of businessman Peter Fryckman and confirmed the non-existence of an arbitration agreement. Fryckman had filed for arbitration before The Hague’s Permanent Court of Arbitration (PCA) in February 2018. The request was based on a claim that the Finnish Minister of Justice had signed a consent to arbitration between Fryckman and the Finnish State in the PCA. The State denied the existence of an arbitration agreement in its response to the request for arbitration and refused to appoint its own arbitrator. The Secretary-General of the PCA deemed that the document titled ‘Declaration of Consent’ was too ambiguous and general in nature, and therefore he could not appoint an arbitrator for the State to an arbitration conducted under the PCA Arbitration Rules 2012. After this, Fryckman requested that the District Court confirm the existence of an arbitration agreement between him and the Finnish State, under which disputes between the parties concerning tax and debt collection actions against Fryckman and his companies, as well as the resulting damages, would be settled before the Permanent Court of Arbitration in The Hague.  However, the District Court dismissed this action because the consent signed by the Minister of Justice was general in nature, its content was unspecified, and it was unclear whether the consent was even a matter that could be arbitrated. Furthermore, the District Court deemed that the consent signed by the Minister of Justice and the plaintiff’s application for commencement of arbitration were not identical and reciprocal, and there was no evidence of an agreement between the parties as to the commitment to and content of the agreement. Fryckman appealed the District Court’s decision to the Court of Appeal, but in its judgement of December 2022, the Court of Appeal deemed that there was no cause to amend the District Court’s decision. The Court of Appeal found that the expression of will in the document titled ‘Declaration of Consent’ had not been made in accordance with the Ministry of Justice’s procedure for presentation and decision-making. According to the Court of Appeal, due to this key fault in the Ministry’s procedure, the free-form expression of will by the Minister did not have a binding effect on the parties. The Court of Appeal remarked that the plaintiff’s actions bore characteristics of an intent to bypass the Ministry’s customary procedure for decision-making. The Court of Appeal also noted that the Minister’s expression of will was encumbered by deficiencies in arbitrability and the subject matter of the consent as stated by the District Court, and referred to the grounds stated by the District Court in other respects as well. On 5 May 2023, the Supreme Court ruled that no leave to appeal would be granted, and the judgment of the Court of Appeal is therefore final.
Case published 27.6.2023
Global manufacturing company – Purchase agreement dispute
We represented a global manufacturing company in arbitration relating to a purchase agreement. The dispute was of a highly technical nature due to the qualities of the product, the intended use and the alleged defects. Also, several technical and quantum experts were involved from various jurisdictions. The value of the claims was approximately EUR 113 million. The dispute was settled in late spring 2022 under favourable terms to our client.
Case published 5.1.2022
Multitude SE – Conversion into an SE and Relocation of Registered Office from Finland to Germany
We advised Multitude SE (formerly Ferratum Oyj) in a conversion from a Finnish public limited liability company into an SE company earlier this year and we are advising Multitude SE in relocation of its registered office from Finland to Germany. Multitude’s board resolved to approve a transfer proposal on 9 July 2021. The relocation will be carried out in accordance with the Finnish Act on European Company and the SE Regulation. Multitude’s new registered office will be seated in Hamburg and the relocation will take effect at the end of 2021. The final decision on the relocation is subject to approval by the general meeting of Multitude’s shareholders. Multitude is an international provider of mobile banking and digital consumer and small business loans, distributed and managed by mobile devices. Founded in 2005 and headquartered in Helsinki, Finland, Multitude has expanded to operate in 19 countries across Europe, South and North America, Australia and Asia. Multitude SE is listed on the Prime Standard of Frankfurt Stock Exchange.
Case published 24.8.2021
Global manufacturing company – Competition law infringement damages claim
We represented a global manufacturer in large-scale international arbitration proceedings against subsidiaries of a multination company. It was the largest antitrust damages case ever tried in Finland and one of the largest and most complex private enforcement of competition law cases ever tried in Europe. The counterparties claimed over USD 800 million in damages from our client based on an alleged global cartel. The dispute was solved by an amicable settlement between the parties to the full satisfaction of our client.
Case published 16.6.2019
Kito Corporation – Acquisition of Erikkila Oy
We advised Kito Corporation in its acquisition of Erikkila Oy through its wholly-owned subsidiary Kito Europe GmbH.  Erikkila Oy is a manufacturer of light cranes, lifting equipment, bridge cranes and robotic cranes based in Kirkkonummi, Finland. Erikkila Oy has subsidiaries in Estonia, Russia and Germany and it is represented through an extensive distributor sales network across Europe. Kito Corporation is a Japanese manufacturer of cranes and hoists.
Case published 15.2.2018
Downing – Acquisition of the entire share capital of Tornionlaakson Voima
We advised UK-based investment company Downing in its acquisition of the entire share capital of Tornionlaakson Voima Oy. Tornionlaakson Voima owns three hydropower plants in the Tengeliönjoki river system – the Portimokoski power plants in Ylitornio, the Jolmankoski power plants in Raanujärvi and the Kaaranneskoski power plants in Sirkkakoski. The power plants produce a total of approx. 45 gigawatt-hours of electricity per year. Tornionlaakson Voima’s daily operations will continue normally, and the transaction will not affect customers. The consummation of the transaction is subject to the approval of the Ministry of Economic Affairs and Employment. Downing has over 35 years’ experience in providing a wide range of investment solutions to the needs of institutional investors, advisers and retail investors. The company manages over £2 billion in assets in both the private and public markets and its current hydro power portfolio includes approx. 50 hydro power plants in the Nordics. 
Case published 27.3.2026
CapMan Infra’s portfolio company Koiviston Auto Group – EUR 300 million refinancing
We advised CapMan Infra’s portfolio company Koiviston Auto Group, Finland’s largest bus operator, in a finance arrangement in which it completed an approximately EUR 300 million refinancing. The transaction consists of the refinancing of the Group’s existing senior debt and secures long-term growth financing to support the Group’s continued investments in its rapidly expanding electric bus fleet. The financing package has been provided by a group of lenders consisting of Nord/LB, ABN AMRO, Edmond de Rothschild, LBP AM and Siemens. The transaction strengthens Koiviston Auto’s funding base and provides significant flexibility to execute the company’s growth strategy focused on sustainable public transportation. CapMan Nordic Infrastructure I acquired Koiviston Auto in December 2021 to support its expansion and operational development. The Group now serves communities nationwide and is at the forefront of the transition to zero-emission public transport in Finland. It operates approximately 300 electric buses, with more than 50 additional electric buses expected to be deployed into traffic during 2026, further accelerating the electrification of its fleet. “The successful completion of this refinancing marks an important milestone for Koiviston Auto Group,” says Henrik Mikkola, CEO of Koiviston Auto Group. “The strong support from a diversified group of high-quality lenders underlines the robustness of our business and our long-term strategy. This financing allows us to continue investing in electric mobility and to provide reliable, sustainable and high-quality public transport services across Finland.” “Koiviston Auto Group plays a key role in the green transition of public transportation in Finland,” comments Ville Poukka, Managing Partner at CapMan Infra. “This refinancing significantly strengthens the company’s financial platform and enables continued investments into electric buses at scale. We are pleased to see strong lender confidence in the company’s strategy, operational performance and long-term growth prospects.”
Case published 25.3.2026
Fingrid – Update of EMTN Programme
We advised Fingrid Oyj on the Finnish law aspects in the update of a EUR 3,000,000 Euro Medium Term Note programme (EMTN). Notes issued under the programme may be listed on the Irish Stock Exchange. Fingrid operates Finland’s main electricity transmission grid and all significant cross-border transmission connections. The main grid is the backbone of the electricity transmission network, to which major power plants, industrial plants and regional electricity distribution networks are connected.
Case published 17.3.2026

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