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 advised Nala Renewables on the Finnish law aspects of the development, acquisition and financing of its battery energy storage system (BESS) project in Vuolijoki, Finland. The project comprises a 125 MW / 250 MWh battery energy storage system. Our advice extended beyond financing to the transaction’s legal due diligence and the acquisition of the project company. We also advised on key project contracts and financing documentation for the project finance facilities provided by Coöperatieve Rabobank U.A. The project is part of Nala Renewables’ growing portfolio of battery storage assets in Finland and the wider Nordic region, supporting the integration of renewable energy and contributing to the flexibility and stability of the Finnish electricity grid.
Case published 3.11.2026
We advised Foundation Clinic in connection with its funding round backed by a group of prominent Finnish technology entrepreneurs and investors, including founders behind Supercell and Wolt. Foundation Clinic is a Finnish healthcare company developing a new approach to private healthcare focused on preventive, data-driven and continuous care. The company aims to combine comprehensive health data with ongoing medical care to identify and address health risks at an early stage.
Case published 29.10.2026
We advised Delta Capacity AG in a project financing of two battery energy storage systems (BESS). The financed projects are among the largest BESS developments in Finland to enter construction with 250 MW / 600 MWh combined capacity. The financing was provided by Société Générale with support from Finnvera. Construction of both projects, located in Lapinlahti and Teuva, has already begun and the commercial operations are targeted to commence in late 2027 with partial tolling agreements already in place for both assets. The project in Lapinlahti is executed in partnership with Covenergo, while the project in Teuva is executed in partnership with Strioga Family Foundation. Delta Capacity is a Swiss developer of utility-scale battery storage systems. The projects strengthen Delta Capacity’s growing Nordic portfolio and support the flexibility of Finland’s electricity system by adding energy storage capacity, enabling production optimization as well as participation in electricity markets and reserve services.
Case published 28.10.2026