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, for instance, 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 on 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 chair of the Young Arbitration Club Finland, a Finnish association for arbitration practitioners aged 40 or under.

Latest references

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
Swiss Life Asset Managers Nordic – Acquisition of a prime logistics property from a fund managed by Savills Investment Management
We advised a fund managed by Swiss Life Asset Managers Nordic in its acquisition of a logistics property in Hyvinkää from a fund managed by Savills Investment Management. In addition to advising on the transactional aspects, we also advised on the financing of the acquisition as well as in designing an appropriate international acquisition structure and addressing relevant tax implications. The property serves as the central warehouse in Finland for Ahlsell, a leading Nordic technical wholesaler, which has been leasing the property since its construction. The state-of-the-art logistics centre was originally built in 2002 and has undergone several improvement projects over the years. The latest extension, completed in 2024, added around 11,000 square meters of new storage area to the property, bringing the total lettable area to 47,000 square meters. The property has been developed with a strong emphasis on energy efficiency with on-site solar power and renewable district heating. The sustainability features of the property were also further optimised and the asset just received BREEAM Excellent certifications in both BREEAM New Construction and BREEAM In-Use.
Case published 20.1.2025
Metsäliitto Cooperative – A EUR 200 million sustainability-linked revolving credit facility agreement
We advised Metsäliitto Cooperative in relation to a new EUR 200 million sustainability-linked revolving credit facility with a syndicate of eight banks. This new credit facility refinances the existing EUR 200 million facility signed in December 2018 and will be used for general corporate purposes. The facility has a tenor of five years and includes two one-year extension options. The pricing mechanism of the revolving credit facility is linked to two of Metsä Group’s ambitious sustainability targets: Target 1: Zero tonnes of fossil carbon dioxide emissions, Scope 1 and 2, by 2030. Target 2: Share of certified wood in wood supply 100% by 2030. ‘Incorporating sustainability criteria into our financing further demonstrates the company’s strong commitment to actions that reduce our carbon footprint and mitigate climate change,’ says Vesa-Pekka Takala, EVP, CFO of Metsä Group.
Case published 16.1.2025

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