Remarkable Precedent On Foundation Law From The Supreme Court

Attorneys Antti Hannula and Pinja Hoffrichter successfully advised Riihi Säätiö s.r. in a precedent on foundation law in the Finnish Supreme Court (KKO:2024:35). The Supreme Court confirmed our view of interpretation of the law, and the judgement was delivered in early summer in favor of our client Riihi Säätiö s.r.

Common experiences between Nordia and Riihi Säätiö s.r. started as early as 12 February 2008, when Mr. Hannula advised the supervisor of foundation authority, the Finnish Patent and Registration Office, which demanded that Riihi Säätiö s.r. shall be abolished or that the entire board of the foundation shall be dissolved. The basis of the Patent and Registration Office's claim was that the foundation's board had breached its own by-laws and violated the foundations Acts. Firstly, the District Court ordered the dissolution of the foundation, but the final judgement of the Court of Appeal held instead to dissolve the Board of the foundation but did not