Both the EU and US, in addition to Canada and Japan, have yesterday (17 March 2014) imposed sanctions against certain Russian and Ukrainian individuals and companies controlled by them. These sanctions include freezing of assets and prohibitions of EU and US nationals to conduct business with the relevant persons and their companies. In this news bulletin we discuss the reach of the EU and the US sanctions and what we believe are their consequences for companies doing business in or with Russia or Ukraine.
We are pleased to announce that the following experienced Hannes Snellman lawyers have been promoted to managing associates and counsel as of 1 March 2014:
The Finnish Subsidy Act (1396/2010) introduces a feed-in tariff system which currently guarantees a minimum target price to producers of electricity from wind power up to 2,500 MVA.
A draft Government Bill on revision of the feed-in tariff system was published in January 2014 and is currently being circulated for comment. According to the draft Bill, the revision would reduce uncertainties related to implementation of wind power projects from the investor’s perspective and further promote long-term planning of wind power projects as well as competition.
Hannes Snellman Helsinki has moved to new premises as of the beginning of 2014. Please note that only our street address has changed and all other contact details remain unchanged.
Eteläesplanadi 20 / P.O. Box 333
00130 / 00131 Helsinki, Finland
Telephone: +358 9 228 841
Telefax: +358 9 177 393
We mourn the loss of our dear colleague Ola Ilebrand on 4 January 2014. Just a few weeks ago Ola won the last of his many victories in courts and arbitration proceedings. However, he was not able to win his fight against cancer. He left us far too soon only 36 years old, but his spirit and humour will still be felt for years to come. Love of his young wife Ba, work, nature, mountain climbing and skiing enhanced his life. He will be greatly missed by his family and his friends at Hannes Snellman. We miss you Ola.
Hannes Snellman has been elected as the legal advisor to the Finnish Transport Agency in connection with the new PPP project for the construction and maintenance of the new E18 motorway section between Hamina and Vaalimaa.
The project will include the construction of a total of 32 km new motorway with five new intersections. A total of EUR 660 million has been reserved for the project in the state budget, and it is one of the most extensive infrastructure projects in Finland.
Hannes Snellman has promoted Sonja Siggberg to partner as of 1 January 2014. Sonja is based in Helsinki and has worked for Hannes Snellman since 2001. She has a long experience of private and public M&A transactions, capital markets transactions and corporate governance related matters. Sonja also advises clients in general securities markets, corporate and insurance law matters.
Klaus Metsä-Simola has joined Hannes Snellman as a counsel. Klaus has cutting-edge environmental law expertise and has been involved in a wide range of energy, infrastructure and natural resources related projects. Klaus’ particular focal area is wind power and he has in-depth regulatory know-how and practical experience in this field. He has had an active role in numerous infrastructure projects ranging from waterways to harbours and road networks.