Jan Lilius

Parties

TRP Hungary (Buyer), Bankruptcy Estate of KymiRing Oy (Seller), The KymiRing motor track (Target)

Transaction

Counsel to TRP Hungary in the acquisition of the KymiRing motor track from the bankruptcy estate of KymiRing Oy.

Deal Value

Value not public

Role

Counsel to TRP Hungary

Hannes Snellman acted as counsel to NYAB Finland Oy in court proceedings to contest the termination of two construction contracts, relating to construction of a water treatment facility, where NYAB Finland Oy was the contractor and the City of Mikkeli was the employer. Mikkeli terminated the contracts mid-construction in March 2020. In December 2022, the Etelä-Savo District Court ruled that Mikkeli had no grounds for termination and awarded NYAB Finland Oy EUR 8.8 million (out of a claimed EUR 9.3 million) in damages, unpaid work, and costs, plus interest. Following the District Court ruling, the parties agreed on a settlement, whereby Mikkeli does not appeal and pays NYAB Finland Oy the sums awarded by the District Court plus interest up to a total of EUR 9.2 million.

Parties

The German State (Buyer), Fortum Oyj (Seller), Uniper SE (Target)

Transaction 

Fortum Oyj’s arrangements related to stabilisation of its German subsidiary Uniper SE. The package will ensure multi-billion funding for Uniper, sale of Fortum’s shareholding in Uniper to the German State for approximately EUR 0.5 billion as well as repayment of Fortum’s EUR 4 billion receivables from Uniper and release of EUR 4 billion parent company guarantees.

Deal value 

Approx. EUR 4.5 billion

Role 

Finnish counsel to Fortum Oyj

Acted as Mash Group Oyj’s interim restructuring administrator.

Representing secured creditors in a landmark case against one of the largest Finnish bankruptcy estates regarding distribution of funds arising out of the sale of parcels of real property pledged to the secured creditors. The matter was resolved at the Supreme Court in the secured creditors’ favour.

Represented an Asian based company in a complex cross border arbitration proceedings against a Finnish company undergoing liquidation proceedings conducted under the Arbitration Rules of the Finland Chamber of Commerce.

Represented a major foreign bank in an insolvency related complex cross border dispute against foreign companies regarding enforcement of secured assets located in Finland in accordance with the Finnish Enforcement Act.

Acted as public receiver nominated by the Bankruptcy Ombudsman in the bankruptcy of Kromipinta.

Represented an international bank syndicate as a member of Creditors' Committee in an unique and complex cross border restructuring of a group of companies undergoing simultaneous restructuring proceedings in Finland and Sweden.

Acting as the supervisor for the observance of the restructuring programme of Finndomo Oy verified by the court.

Represented a Finnish bank in a series of litigation against a company and the owner of the company in connection with collection of receivables, bankruptcy filing and enforcement of court judgements.

Representing secured creditors as a member of Creditors' Committee in one of the largest ongoing bankruptcy proceedings in Finland.

Representing lessor creditors as a chairman of Creditors' Committee in one of the largest and most complex ongoing bankruptcy proceedings in Finland.

Assisted in administering the largest Finnish bankruptcy procedure in the 21st century concerning a bankruptcy estate with more than 10,000 creditors.

Represented a Finnish public company as the building owner against a contractor in a complex construction dispute before a District Court in Finland. The dispute concerned termination of a construction contract, various claims for damages, claims for reduction in the contract price, claims for additional payments on the basis of alleged plan modifications and several other topical issues regarding the application of the General Conditions for Building Contracts (YSE 1998). The proceedings included a six week hearing with over 50 witnesses and extensive presentations of highly technical evidence concerning e.g. the structural and architectural plans of the project.