Teemu Auressalmi

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

Services

  1. Dispute Resolution

Contact details

I specialise in dispute resolution. My practice covers both international and domestic arbitration and litigation as well as alternative forms of dispute resolution.

I have represented our clients before tribunals and the Finnish courts in a variety of commercial and corporate disputes. These disputes have related to, among others, antitrust damages claims, construction projects, mergers and acquisitions, shareholders’ agreements, international trade, and trade secrets. I have also acted as counsel in investor-state arbitration proceedings. My industry experience includes construction, electronics, energy, the food industry and technology, among others.

In addition to a law degree, I hold a M.Sc. degree in Economics and Business Administration and have also completed court training. My educational background supports my practical experience and helps me understand how to best advise our clients when disputes arise. Prior to joining Castrén & Snellman I also worked with questions related to corporate law at an international audit firm.

I am a regular speaker in topics related to dispute resolution and an active member of the Finnish arbitration community. Currently I serve as co-chair of the Finnish below-40 arbitration practitioners’ association, the Young Arbitration Club Finland.

Latest references

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
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