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Restructuring and Insolvency 2009: Finland

For bankruptcies the main legislation consists of Bankruptcy Act and Enforcement Act (705/2007), with some special legislation also found in Recovery to an Estate in Bankruptcy (758/1991), Act on the Ranking of Claims (1578/1992) and Act on the Supervision of the Administration of Bankrupt Estates (109/1995). Reorganisations and debt adjustments are governed respectively by Restructuring of Enterprises Act (47/1993) and the Act on the Adjustment of the Debts of a Private Individual (57/1993).


First published in Getting the Deal Through – Restructuring and Insolvency 2009. 


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