Teemu Auressalmi

Counsel, Partner Elect, Member of the Finnish Bar, M.Sc. (Econ.)

Services

  1. Dispute Resolution

Contact details

I am a versatile disputes lawyer whose practice spans the full spectrum of commercial dispute resolution.

I have extensive experience with commercial arbitrations administered by major institutions, including the ICC, the SCC, the FAI and the DIA, as well as ad hoc arbitrations, including under the UNCITRAL Rules, both internationally and domestically. I have also acted as counsel in investor-state arbitration.

I regularly represent clients in litigation before the Finnish courts, as well as in alternative forms of dispute resolution such as mediation and expert determination proceedings.

Over a decade of practice, I have advised clients on numerous complex, high-stakes disputes concerning, among other things, mergers and acquisitions, joint ventures and shareholders` agreements, insurance and reinsurance, financing, construction and engineering, and a wide range of commercial contracts. My industry experience spans construction, electronics, technology, energy, mining and food, among others.

I speak regularly on topics related to dispute resolution and am an active member of the arbitration community. I previously served as co-chair and then chair of the Young Arbitration Club Finland, a Finnish association for arbitration practitioners aged 40 and under.

Latest references

International reinsurance companies – Ad hoc arbitration proceedings
We successfully represented a panel of reinsurance companies in an international ad hoc arbitration. The dispute arose out of a reinsurance treaty under the terms of which the reinsurers had reinsured a portfolio of risks underwritten by the cedent. The parties disagreed as to whether the reinsurance provided coverage for a certain loss that had occurred because of the market turmoil caused by the Covid-19 pandemic. The case involved highly complex legal and contractual questions requiring special expertise on reinsurance law and practice. The arbitral tribunal rejected the counterparty’s claims for reinsurance compensation against our clients in full. The amount in dispute was approximately EUR 34 million.
Case published 16.9.2025
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.
Case published 22.11.2024
Finnish building company – Settlement of large-scale construction dispute
We successfully represented a major Finnish construction company in a dispute and settlement negotiations concerning a large construction project. The dispute mainly concerned liabilities for additional and change works as well as project delays, and the value of the claims of the parties was approximately EUR 50 million.  If the case had not been settled, it would have been one of the largest construction disputes ever tried in the Finnish courts. The projected number of hearing days was unprecedentedly more than 300 days. To find an amicable solution to the extensive dispute, the parties engaged in settlement negotiations and court mediation. Eventually, the parties reached an amicable settlement to the full satisfaction of our client and thus the parties avoided the costs and risks of an extensive trial.
Case published 7.2.2024
Energy company – Power purchase dispute
We represented a major energy company in arbitration relating to a dispute concerning a long-term power purchase agreement. The total value of the dispute was tens of millions of euros. The dispute was fully and finally settled for the full satisfaction of our client in autumn 2023.
Case published 12.7.2023
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
Valio – Competition Damages Case
We represented Valio Oy, a major dairy company, in a follow-on competition damages case related to the Supreme Administrative Court’s decision on abuse of a dominant position. In 2014, the Finnish Market Court fined Valio for predatory pricing in the Finnish fresh milk market. In 2016, the Finnish Supreme Administrative Court upheld the Finnish Market Court’s decision. Following the Market Court’s decision, Arla Ltd and five Finnish dairy companies claimed compensation from Valio for damage allegedly suffered due to the competition law infringement. The capital amount of damages claimed was, in aggregate, more than EUR 100 million. Four of the six claims, including Arla’s claim, were settled prior to the main hearing. A seven-week main hearing of the remaining two damages claims, which amounted to EUR 30 million, was held in the Helsinki District Court in March 2019. The District Court gave its ruling on June 2019 and awarded the two remaining claimants a total of EUR 8 million in damages, which is less than one-third of the amount of the claims in question. The parties did not appeal the decision, which is now final. This matter is noteworthy as it is the first significant follow-on damages case relating to abuse of dominance in Finland and one of only a few in all of Europe. Valio Ltd is a brand leader and the biggest dairy business in Finland and a major player in the international dairy ingredients market. In 2018, Valio’s turnover stood at EUR 1.7 billion, and it had 4,200 employees globally.
Case published 23.9.2019
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
Banyan Software – Acquisition of Carus Ferry
We acted as legal adviser to Banyan Software on its acquisition of Carus Ferry, a Finland-based provider of reservation, check-in and port operations software for ferry and passenger shipping operators. The acquisition further strengthens Banyan Software’s presence in the Nordic region while providing Carus with a long-term partner to support its continued growth and development. Carus was founded in 1998 and is headquartered in Mariehamn on the Åland Islands, Finland. The company develops mission-critical software for ferry, cruise and passenger shipping operators, covering the full passenger journey from booking and ticketing to capacity management, check-in and boarding. Carus also provides port automation, onboard sales systems and business information tools. The company serves approximately 30 operators across four continents and is the largest vendor by customer count in ferry reservation and departure control. Banyan Software is an acquirer and long-term operator of mission-critical software businesses serving specialised industries. Founded in 2016, Banyan follows a buy-and-hold-for-life approach and supports the long-term growth and development of its portfolio companies. Banyan operates more than 130 portfolio companies across North and South America, the United Kingdom, Europe and APAC. Following the acquisition of Carus, Banyan operates three businesses in the Nordic region.
Case published 20.10.2026

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