Q1-2 2015

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The first D&I Quarterly was published almost a decade ago in 2006. In this issue, we have labelled the articles a bit differently, offering insights on the latest developments, new rulings and expected future changes. We hope you enjoy this issue and look forward to receiving any feedback or questions from you. 

We asked

» New Partner Mikko Eerola

We asked D&I's new Partner Mr Mikko Eerola three quick questions to hear what keeps him busy in the near future.

Right Now

» Strict Finnish Communications Provisions Go International

Social media providers to be brought within the scope of new legislation on confidentiality of communications – full effects yet to be ascertained.

» Competition Authority's Rights of Inspection Strengthened

The Finnish Competition Authority is now allowed to request information also from a third party IT services provider of the company under unannounced inspection.

» Obtaining Leave to Appeal Will Become Harder

All civil cases, regardless of their value, will be subject to leave procedure.

Case Closed

» Tenderers May Obtain Compensation for Damages Due to Incorrect Public Procurement Procedure

The Supreme Court affirmed that a procurement entity may be obligated to compensate tenderers' costs for preparing a tender in an erroneous procurement procedure but the burden of proof on the tenderer is high.

» The Supreme Court Clarifies Principles for Valuation of Security Assets

The Finnish Supreme Court holds that, in corporate restructuring proceedings, the value of security assets covered by a business mortgage, below which the secured creditor's claim cannot be reduced, is determined on the basis of the realization value of the relevant assets in a bankruptcy rather than as a going concern value. This outcome clearly favours unsecured creditors at the expense of business mortgage holders.

New Legislation

» Legislation Regarding Compensation for Occupational Accidents and Diseases Under Reform

Legislation regarding compensation for occupational accidents and diseases will be updated to match the needs of modern working life.

» Proposed Whistleblowing Duty for Auditors did not Enter into Force

The proposed notifying obligation of auditors did not enter into force and the proposal lapsed in March.

Author

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