Bankruptcy Proceedings

Bankruptcy Proceedings

Administering bankruptcy estates and representing creditors requires extensive experience and expertise as well as efficient and suitable resources.

We also bring excellent social skills and a genuine spark for developing bankruptcy practices to the table. This is why we have administered Finland’s largest bankruptcies or represented the creditors in them.

Latest references

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.
Case published 9.12.2025
We advise Fingrid Oyj in a transaction in which Ilmarinen Mutual Pension Insurance Company is selling its holding of approximately 20 per cent of the shares in Fingrid to the Finnish State and OP Pohjola Kantaverkko Holding Ky. Fingrid owns Finland’s main electricity transmission grid and all significant cross-border transmission connections. The main grid is the backbone of the electricity transmission network, to which major power plants, industrial plants and regional electricity distribution networks are connected. 
Case published 11.2.2026
We advised Metsäkonepalvelu Oy in its acquisition of the entire share capital of PJP Metsäexpertit Oy. PJP Metsäexpertit is a Pirkanmaa-based company specialising in forest management and logging. The acquisition will strengthen Metsäkonepalvelu’s operations, particularly in the Pirkanmaa region, and expand its operations. Metsäkonepalvelu is a portfolio company of A. Ahlström Oy, a Finnish family-owned industrial owner. Metsäkonepalvelu 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.
Case published 6.2.2026
We acted as legal adviser to EcoUp Oyj in a directed share issue, through which EcoUp raised a total of approximately EUR 3 million in gross proceeds to strengthen the company’s capital structure and finance its growth. The share issue was directed to a limited group of domestic investors, deviating from the shareholders’ pre-emptive subscription right. EcoUp’s shares are traded on the First North Growth Market Finland marketplace maintained by Nasdaq Helsinki.  EcoUp promotes the green transition of the construction industry by producing carbon-neutral, energy-efficient and circular economy-based materials, services and technologies that help construction industry players reduce their environmental impact. The company has over 40 years of experience in developing and delivering circular economy solutions to customers.
Case published 29.1.2026