The construction industry faced increasing difficulties last autumn. By the end of last year, the construction industry had seen over 100 bankruptcies more than the previous year.

Groups' bankruptcies have increased in recent years in Finland, and several companies that have declared bankruptcy share a common owner.

Chambers Europe once again ranked Castrén & Snellman among Finland's best law firms in its annual publication.

In a recent case, decision 2012:63, the Supreme Court of Finland considered whether the District Court of Turku had international jurisdiction over an action for recovery in bankruptcy brought against two foreign companies.

On 26 February 2010, the Finnish Supreme Administrative Court issued and published an advance ruling (KHO:2010:12) concerning interpretation of private equity activities of a holding company and the right of the holding company in question to deduct possible liquidation losses incurred in connection with a liquidation of operative subsidiary companies.

An extensive general bankruptcy legislation reform will be implemented in Finland, which will repeal the established Bankruptcy of Act 1868. The new Bankruptcy Act (hereafter BA of 2004) will come into force on 1 September 2004. Also several additional laws will be altered due to the BA of 2004.

If a company's financial difficulties turn into permanent insolvency, then the company should file for bankruptcy.

The Restructuring of Enterprises Act has been under reform during this Government's term in office. The reform that entered into force this summer implemented the EU Directive...

Despite hosting over 40,000 VC-backed tech startups and creating more of them than any other region globally, the EU had only 331 unicorns, as compared to 1,963 in the US as of 2025. The numbers highlight a structural challenge: European companies have been struggling to scale up and compete globally for some time, and a growing number of European high-growth startups are relocating their headquarters outside the EU, primarily to the US.

Bankruptcy of a tenant can be a challenging situation for a lessor of a business premises. Act on Commercial Leases (481/1995) sets the guidelines and framework within which a lessor must act in such situations.