Although Finland has not escaped the economic effects of Covid-19, it has been less impacted than much of Europe, and major industries including the renewable energy, forestry, electronics and chemicals manufacturing sectors have proved resilient. The previously sluggish market for major M&A and capital markets work has slowed further, with an increase in restructuring and distressed M&A expected.
Recent developments affecting the types of work being seen include temporary changes to employment legislation creating a rise in non-contentious and advisory work, particularly issues concerning temporary lay-offs and health and safety matters. In the field of competition law, although Finland’s large cartel cases are coming to a close, there remains considerable potential for follow-on damages claims.
The landscape of the legal market remains stable, with full-service domestic firms most prominent: Roschier, Castrén & Snellman and Hannes Snellman occupy a commanding position, closely followed by Borenius and Krogerus.