Corporate restructuring

Restructuring proceedings may be undertaken in order to rehabilitate a distressed debtor’s viable business, to ensure its continued viability and to achieve debt arrangements. In the proceedings, a court may approve a restructuring programme with instructions regarding measures on the activities, assets and liabilities of the debtor.

Matters concerning restructuring proceedings shall be considered by the court in whose district the general administration of the debtor is located. Matters concerning the restructuring of a subsidiary company in a group of companies shall, however, be considered by the court in which restructuring proceedings concerning the parent company are pending

Matters concerning restructuring proceedings are not heard by all district courts, which means that the judicial district in corporate restructuring matters is determined differently than in other matters

Judicial districts in corporate restructurings 1.1.2019

1. The judicial district of the District Court of Åland comprises the judicial district of the Åland District Court;
2. The judicial district of the District Court of Helsinki comprises the judicial district of the District Court of Helsinki;
3. The judicial district of the District Court of Länsi-Uusimaa comprises the judicial districts of the District Courts of Länsi-Uusimaa and Itä-Uusimaa;
4. The judicial district of the District Court of Oulu comprises the judicial districts of the District Courts of Kainuu, Lapland and Oulu;
5. The judicial district of the District Court of Pirkanmaa comprises the judicial districts of the District Courts of Kanta-Häme and Pirkanmaa;
6. The judicial district of the District Court of Pohjanmaa comprises the judicial districts of the District Courts of Etelä-Pohjanmaa, Keski-Suomi, Pohjanmaa and Satakunta;
7. The judicial district of the District Court of Pohjois-Savo comprises the judicial districts of the District Courts of Etelä-Savo, Pohjois-Karjala and Pohjois-Savo;
8. The judicial district of the District Court of Päijät-Häme comprises the judicial districts of the District Courts of Etelä-Karjala, Kymenlaakso and Päijät-Häme;
9. The judicial district of the District Court of Varsinais-Suomi comprises the judicial district of the District Court of Varsinais-Suomi.