Mikaela Rintakoski

Senior Associate, Member of the Finnish Bar

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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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Life Finland – Administration of bankruptcy estate

Life Finland Oy, a retailer of natural products, other health-related products and cosmetics, filed for bankruptcy on its own initiative in June 2025, and our attorney, counsel Elina Pesonen was appointed administrator of the bankruptcy estate. Life Finland Oy was part of the international Life Group, and its parent company Life Europe AB was declared bankrupt in Sweden in June 2025. When declared bankrupt, Life Finland Oy had over 30 operational stores and almost 170 employees across Finland. In addition to the premises of the operational stores, the company had several other leased premises, such as retail premises it was vacating as well as office and warehouse spaces. The bankruptcy estate organised clearance sales in all of the company’s stores. The shutdown of the stores and the clearance sales were efficiently carried out in approximately two weeks in cooperation with the company’s country manager, regional managers and sales staff. The clearance sales yielded a significant liquidation result, and consumers bought nearly the entire inventory. The administration of the bankruptcy estate has required expertise in many areas. The proceedings have dealt with specialised issues such as cash pooling arrangements, intellectual property, franchising agreements, employment relationships and consumer creditors. In addition, the proceedings are notably international, as the estate administrator has organised the shutdown of operations and the liquidation of assets in close cooperation with the estate administrators of the Swedish Group companies. The cooperation has included, among other things, exploring opportunities for selling the business, the sale of intangible rights and the coordination of intra-group agreements.

Foodiq – Restructuring proceedings

Castrén & Snellman’s Attorney Christer Svartström acted as the administrator in the restructuring proceedings of Foodiq Oy, which began on 11 March 2024. Foodiq is a unique future food focused company that develops and produces plant and milk-based products for both the private and public sectors. The company’s largest shareholder is a Swedish investment company focusing on FoodTec, Nicoya AB. The majority of creditors approved the draft restructuring programme in expedited proceedings after restructuring proceedings that lasted just under a year. The District Court of Helsinki affirmed the restructuring programme including the one-day payment programme on 10 March 2025 and appointed Attorney Christer Svartström as the supervisor of the programme. In cooperation with the parties, they found an effective and quick restructuring solution for the company, avoiding a long-term programme and allowing the company to focus on its core business. The restructuring programme was financed by investments made by the company’s investors. At the same time, the one-day programme provided a better outcome for creditors compared to a longer programme. The implementation of the restructuring programme ended successfully on 28 March 2025.

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.

G&W Electric – Acquisition of Safegrid

We advised G&W Electric with its acquisition of Safegrid Oy, a leading provider of intelligent grid monitoring solutions based in Finland. The acquisition accelerates G&W Electric’s long-term strategy to integrate intelligent monitoring and predictive analytics into its power distribution portfolio, strengthening its offering to utility customers worldwide. Founded in 1905 and headquartered in Bolingbrook, Illinois, G&W Electric is a global leader in innovative power grid solutions, with a presence in over 100 countries. The company is known for advanced load and fault interrupting switches, reclosers, sensors, system protection equipment, power grid automation, intelligent grid monitoring, and transmission and distribution cable accessories. Safegrid is a Finnish technology company headquartered in Espoo, Finland. The company develops the Intelligent Grid System®, a grid monitoring solution that combines instant-on wireless sensors with advanced analytics to deliver real-time insight into grid conditions, enabling utilities to identify emerging issues, anticipate failures, and reduce outage duration across medium and high voltage distribution and transmission networks.

Kiwa – Acquisition of Sertio

We advised Kiwa in its acquisition of Sertio Oy, a Finnish notified body designated by the authority in accordance with the EU Regulation on in vitro diagnostic medical devices (IVDR). Sertio provides conformity assessment services in accordance with IVDR. Kiwa is one of the world’s leading testing, inspection, and certification companies, operating in over 35 countries.

Metsäkonepalvelu – Acquisition of Junnonen Forest and the business operations of Lamerit

We advised Metsäkonepalvelu Oy in its acquisition of the entire share capital of Junnonen Forest Oy, a Finnish timber harvesting services company, and the timber harvesting services business of Lamerit Oy. The acquisition supports Metsäkonepalvelu’s growth strategy and strengthens the company’s position, particularly in southeastern Finland. Metsäkonepalvelu is a portfolio company of A. Ahlström Oy, a Finnish family-owned industrial owner. The company provides mechanical timber harvesting services to forest companies, large private forest owners, and the public sector in Finland and Sweden. Metsäkonepalvelu Group employs nearly two hundred forestry professionals.

Scanreco – Acquisition of CrossControl

We acted as Finnish counsel to Scanreco in its acquisition of CrossControl. Mannheimer Swartling (Sweden) acted as lead counsel for Scanreco. CrossControl, founded in Sweden, is a high-tech supplier of advanced display computers and central vehicle computing solutions for industrial vehicles and machines. Scanreco is a world leading supplier of professional radio remote control systems to international machinery, heavy equipment, and crane manufacturers. The combined group comprises approximately 600 employees and generates annual revenue of around SEK 1.4 billion.

Get to know our other experts in the field

Pauliina Tenhunen

Restructuring & Insolvency

+358 40 046 8114 pauliina.tenhunen@castren.fi

Restructuring & Insolvency

+358 40 717 4294 elina.pesonen@castren.fi

Christer Svartström

Restructuring & Insolvency

+358 40 511 3303 christer.svartstrom@castren.fi

Senior Associate

Restructuring & Insolvency

+358 44 528 0695 sara.laitinen@castren.fi

Restructuring & Insolvency

+358 44 254 4686 ella.talso@castren.fi

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