- What is the Corporate Counsel 100?
- How to nominate in-house counsel
- Top 100: Africa
- Top 100: Asia Pacific
- Top 100: Deutschland
- Top 100: Ireland
- Top 100: Latin America
- Top 100: Middle East
- Top 100: Russia
- Top 100: United Kingdom
- Top 100: United Kingdom - Rising Stars
- Top 100: United States
- Top 100: United States - Rising Stars
- How do the awards work?
- The Legal 500 United Kingdom Awards 2014
- The Legal 500 United States Awards 2014 - In-house winners
- The Legal 500 United States Awards 2014 - Law firm winners
- The Legal 500 Latin America Awards (coming soon)
- The Legal 500 Germany Awards (coming soon)
- Frequently asked questions
- Legal market overview
- Banking and finance
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Legal market overview
2013 was a good year for the Finnish corporate and M&A market; the pace started to pick up in April and firms are optimistic that the trend will continue, partly on the strength of significant interest from Russian investors and companies. Strict fiscal management has allowed Finland to remain the only country in the eurozone with a Triple A rating, and while the capital markets have been somewhat slow overall, the debt capital markets have been relatively active. The energy sector is booming, and energy and infrastructure assets are very popular with many foreign investors. Another growth area has been the digital games sector, driven by a strong technology and IT sector in general.
Among law firm developments, the merger in September 2013 between Heinonen & Co, Attorneys-at-Law Juridia Ltd and Bützow Attorneys Ltd created a sizeable new firm, Attorneys-at-Law Juridia Bützow Ltd; Benjon Oy joined forces with Roschier in October 2012, forming a brands team within the IP and technology practice; Attorneys-at-law Trust Ltd is a new firm in the market; and Attorneys at law Borenius Ltd opened an office in St Petersburg, Russia, in February 2013, taking on a 15-attorney team from Mannheimer Swartling.
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Finland's New Merger Control Rules
Are all members of consortia jointly liable for the entire project or may they allocate liability and responsibility among them?
Lotta Uusitalo, Anne Petäjäniemi-Björklund and Leea Salminen, Attorneys at Law of Procopé & Hornborg, have written a book on the implications of competition law on information exchange.
The EC waste directive (2008/98/EC) will be implemented in Finland by the new Finnish Waste Act, which will enter into force on May 1, 2012.
Introduction Robert S Peckar Peckar & Abramson, PC 3
Written by Martin von Willebrand
The Finnish CFC legislation implies that a Finnish company may be subject to income tax for its share of the profit of a CFC regardless of whether these profits are distributed by the CFC to its shareholders or not. A CFC is defined as a foreign corporation owned and controlled by a Finnish tax resident that pays income tax in its domicile at a rate less than 60% of the Finnish corporate income tax rate.
The Finnish Supreme Administrative Court decided on 7 March 2011 (KHO 2011:21) to request for a preliminary ruling from the Court of Justice of the European Union (ECJ) concerning the question whether a Finnish parent company may deduct the final tax losses of its Swedish subsidiary after a cross-border merger.
The European Commission presented on 16 March 2011 a proposal that calls for a common system for calculating the tax base of business operating in the EU. At the moment, a company active within the whole EU can be forced to comply with up to 27 different national tax systems. The new Common Consolidated Corporate Tax Base (CCCTB) seeks to reduce the administrative burden, compliance costs and legal uncertainties by creating a "one-stop-shop" system where the profits and losses across the EU could be consolidated.
By its decision 18 February 2011 (S09/3055) the Helsinki Appellate Court confirmed that an owner is entitled to rely on the quality assurance of a well-known construction company at an acceptance inspection. The court held that the owner is entitled to demand rectification of construction defects and to claim damages for deficiencies discovered during the guarantee period.
Kyiv, 11 August 2014 - Avellum Partners announced that it has acted as the Ukrainian legal counsel to Ferrexpo in connection with the following three export financing credits:
Avellum Partners announced that it has acted as the Ukrainian legal counsel to Ferrexpo in connection with the acquisition of an electrified railway of over two kilometers long and a power line.
Avellum Partners acted as the legal counsel to the owners of a leading Ukrainian FMCG producer in connection with its sale to a private investor.
KKR, a leading global investment firm, announced an investment in arago AG ("arago"). arago is a German-based high-tech company specialised in IT automation. KKR will acquire a minority stake in arago and support the global roll-out of arago's product portfolio with growth equity.
Funds Legal and Regulatory Update- Ogier
In early August 2014 „Popov & Partners" Law office was selected by the Ministry of Justice of the Republic of Bulgaria to perform public procurement named „Research and analysis of existing systems for enforcement in the EU Member States, research and exchange of the European good practices related to the construction of electronic system/portal for enforcement". The research is in the framework of „Effective and transparent enforcement, integrated with national and European electronic legal systems" implemented with the grant of the Operational Programme „Administrative Capacity", co-financed by the European Union through the European Social Fund.
In the middle of July 2014 "Popov and Partners" law office was awarded a public procurement, announced by the Ministry of Finance, with subject matter "Analysis of the structure of the Managing Authority of Operational Programme "Administrative Capacity" (OPAC) and development of an offer for structure of the Managing Authority of Operational Programme "Good Governance" (OPGG) in relation to the 2014-2020 programming period". The public procurement is part of a project for analysis of the structure of the Ministry of Finance and Operational Programme "Administrative Capacity" Directorate, realized with the financial support of Operational Programme "Administrative Capacity" (OPAC), co-funded by the European Union through the European Social Fund. The most fundamental aim of all project activities is to guarantee the effective execution of Operational Programme "Administrative Capacity" Directorate at the Ministry of Finance, in its capacity of Managing authority of the new Operational Programme "Good Governance" 2014 - 2020, which will replace Operational Programme "Administrative Capacity" and Operational Programme "Technical Assistance", implemented during the past programming period.
The international media company Bertelsmann is increasing its ownership of Gruner + Jahr to 100 percent by acquiring Jahr Holding's 25.1 percent shareholding. The transaction was agreed among Gruner + Jahr's shareholders. Bertelsmann's acquisition of the remaining shares in Gruner + Jahr will become effective on November 1, 2014. The purchase price is being paid in cash, and the parties have agreed not to disclose the amount.
Hengeler Mueller advises LEG Immobilien AG on acquisition of portfolio of around 9,600 residential uA subsidiary of LEG Immobilien AG ("LEG"), acting as the buyer, and Deutsche Annington Immobilien SE ("Deutsche Annington"), acting as the seller, yesterday signed an agreement for a portfolio transaction for around 9,600 residential units and related employees in North Rhine-Westphalia by way of share deal. The total transaction volume amounts to €484m. Following antitrust approval, the closing of the transaction is expected by the end of October 2014.