- INSOL Europe/LexisPSL Joint Project on ‘How EU Member States recognise insolvency/restructuring proceedings commenced in third country states’—Finland
- Q1. Has your country adopted the UNCITRAL Model law on Insolvency? If not, does it intend to do so in the near future?
- Q2. What are your country’s private international law provisions for the recognition of insolvency proceedings commenced in countries outside of the EU Member States (ie Third Party States like the UK)?
- Q3. Would your country recognise an English scheme of arrangement (under Part 26 of the Companies Act 2006) or an English restructuring plan (under Part 26A of the Companies Act 2006) now post Brexit and on what basis? (eg Lugano Convention, Hague Convention, Rome I or other private international law rules)
- INSOL Europe/LexisNexis table of ‘How EU Member States recognise insolvency/restructuring proceedings commenced in third country states’
Restructuring & Insolvency analysis: This article looks at how Finland would recognise insolvency or restructuring proceedings commenced in a third country state. In particular, it considers whether the English Part 26 scheme or Part 26A restructuring plan would be recognised in Finland. Written by country co-ordinator for INSOL Europe, Jan Lilius, partner at Hannes Snellman and Olli Mäkelä, senior associate at Hannes Snellman.
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