Mikaela Rintakoski

Associate, Master of Laws

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I advise clients in assignments concerning insolvency law. I also assist clients in questions of corporate law as part of our Corporate Governance team. I have participated in various bankruptcy and restructuring proceedings, both assisting the administrator of the estate and representing the creditors.

In addition to bankruptcy and restructuring proceedings, I have experience in voluntary debt arrangements and liquidation of companies.

Prior to joining Castrén & Snellman, I worked at another business law firm, specialising in insolvency law and dispute resolution.

I have a Master of Laws degree from the University of Helsinki, and I have also studied law at the ESADE private university in Spain.

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Latest references

Relacom Finland – Administration of bankruptcy estate

Relacom Finland Oy was declared bankrupt in 2019 upon the company’s own application. Relacom Finland Oy was one of the leading telecommunication services companies in Finland, and it had activities across Finland. The company offered, for example, installation and maintenance of telecommunication networks and power grids. When bankruptcy was declared, the company had around 400 employees. The bankruptcy proceedings were concluded in approximately three years, and the creditors approved the final settlement of accounts in December 2022. Attorney Pekka Jaatinen served as the administrator of the bankruptcy estate. After the beginning of the bankruptcy, the bankruptcy estate examined the company’s unfinished projects and finished them to the extent that was profitable. The rest of the projects were shut down in a controlled manner and handed over to the customer. Some of the projects were also socially important. The bankruptcy estate hired 112 of the company’s employees for fixed-term employment to finish projects and to ensure that the shutdown was carried out in a controlled manner. However, the bankruptcy administration did not continue the company’s business. The company’s fixed assets and inventories consisted of, among other things, various tools, equipment and several vehicles. The bankruptcy estate identified different options for efficient ways to liquidate assets, and selling was carried out in cooperation with an external liquidator. The liquidation result from finishing projects and selling the company’s movable property was significant and higher than the book value. Unsecured creditors accrued approximately 41% disbursements in the bankruptcy.

Brothers Clothing – Administration of Bankruptcy Estate

Menswear retailer Brothers Clothing Oy applied for bankruptcy on its own initiative in April 2020. At the time it was declared bankrupt, the company had a total of 12 stores and about 70 employees across Finland. The bankruptcy proceedings were concluded briskly in about one and a half years, and the creditors approved the final settlement of accounts in December 2021. Attorney Pauliina Tenhunen served as the administrator of the bankruptcy estate. After bankruptcy was declared, the bankruptcy estate began clearance sales in five stores in Espoo, Vantaa, Turku, Raisio and Vaasa. The clearance sales were organised in cooperation with the company’s store staff, and the bankruptcy estate hired about 20 of the company’s employees for fixed-term employment. The liquidation result from the clearance sales was significant. Unsecured creditors accrued over 50% disbursements in the bankruptcy. In addition to insolvency experts, the team managing the bankruptcy estate included taxation and employment law experts.

Piippo – Sale of bale netwrap and baler twine machines and certain trademarks

We are acting as legal advisor to Piippo Plc in the sale of their bale netwrap and baler twine machines, related assets, and trademarks used in Piippo’s business to Portuguese Cotesi S.A. The sale of assets will be carried out in two phases and the final completion of the transaction is expected to occur during the first quarter of 2026. Piippo Oyj’s core business is baling nets and twine and it is one of the leading suppliers in the industry globally. The company’s global distribution network covers more than 40 countries. The company’s shares are listed on the First North Growth Market Finland operated by Nasdaq Helsinki Oy. Founded in 1967, Cotesi is one of the world’s leading producers of synthetic and natural twines, nets and ropes, with operations in Europe, North America and South America and its main production plant in Vila Nova de Gaia, Portugal.

KKR – Acquisition of Karo Healthcare

We acted as Finnish legal adviser to KKR in connection with its acquisition of the entire share capital of Karo Healthcare from EQT. The transaction follows Karo’s significant strategic transformation from a Nordic specialty pharma business into a leading pan-European consumer healthcare platform, with an attractive product portfolio spanning core categories such as Skin Health, Foot Health, and Intimate Health, as well as Digestive Health and Vitamins, Minerals & Supplements. KKR & Co. Inc. (NYSE: KKR), is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. Completion of the transaction is subject to customary conditions and regulatory approvals. The transaction is expected to close in the coming months.

Savings Banks Group – Sale of Sb Life Insurance

We advised the Savings Banks Group on an arrangement whereby the shares in Sp-Henkivakuutus Oy were sold to Henki-Fennia and at the same time the parties agreed on a long-term distribution cooperation for insurance savings and loan protection products. The closing of the transaction remains subject to regulatory approvals. Sb Life Insurance is a domestic life insurance company, established in 2007, offering insurance savings and risk insurance products to private customers and companies. The Savings Banks and Oma Säästöpankki Oyj act as agents for Sp-Life Insurance. Henki-Fennia is a subsidiary of Keskinäinen Vakuutusyhtiö Fennia, specialising in voluntary life, pension and savings insurance.

Readpeak – Capital Investment

We advised Readpeak in an arrangement where Finnish growth fund Voland Partners made an investment in Readpeak. Readpeak is a service platform specialising in native advertising for purchasing, designing, and targeting the distribution of advertising space. Readpeak has quickly risen to a leading position with its platform solution, which enables an easy way to target and schedule communications as part of the news feed on media sites. Readpeak is a company founded in Helsinki in 2014, which has since expanded to nine European market areas and collaborates with over a thousand publishers. Readpeak redefines content-driven advertising using advanced machine learning models, creating added value for both quality media and journalism. Voland Partners is a minority investor specialising in the development of technology companies, with a mission to work together with entrepreneurs to build successful companies responsibly, creating success stories that benefit the entire society. Readpeak is Voland Partners’ sixth investment target, into which the fund company is investing from its first growth fund of 57 million euros.

Nokian Brewery – Listing on First North

We advised Nokian Brewery Plc in its listing on Nasdaq First North Growth Market Finland. Investor demand in the IPO, which consisted of a public and institutional offering, was very strong and the IPO was oversubscribed. Nokian Brewery raised gross proceeds of approximately EUR 10 million from the IPO. In the IPO subscriptions were received from more than 2,900 investors and as a result of IPO the number of shareholders in the company increased to more than 4,700 shareholders. The IPO gives us a strong platform for the next years of growth. We are grateful to investors for their confidence and excited about what we can achieve together. This is the beginning of a new chapter in the Nokian Brewery story. – Janne Paavola, CEO Trading in Nokian Brewery’s shares began on First North on 3 April 2025 with trading symbol BEER. Nokian Brewery is Finland’s second largest microbrewery and fifth largest brewery in terms of turnover in 2023. Nokian Brewery is particularly known for its Keisari beers. Nokian Panimo manufactures all its products at its production facility in Nokia, and in 2024 its sales volume totalled more than 8.3 million litres and turnover was EUR 11.9 million. Domesticity, responsibility and sustainable practices are at the heart of Nokian Brewery.

Fingrid – Update of EMTN Programme

We advised Fingrid Oyj on the Finnish law aspects of the update of an EMTN programme and increase to EUR 3 billion. Notes issued under the programme may be admitted to trading on Euronext Dublin. Fingrid Oyj is Finland’s transmission system operator.

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