KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER FINNISH LAW -
In Finland, insolvency legislation provides for two distinct statutory processes: bankruptcy and corporate restructuring, each with separate proceedings. Both proceedings are briefly summarized in this text.
Corporate Restructuring in Finland -
The purpose of restructuring is to rehabilitate the viable parts of a business, facilitate their operation, and enable debt adjustment. Corporate restructuring in Finland can be conducted through formal legal proceedings or out-of-court processes.
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