Member Article

Just as the world started to show signs of recovery from the pandemic and there was a glimpse of a promising economic boom, Russia invaded Ukraine. The wide-reaching effect of the war on society and business has meant that many of the challenges faced by the economy are real and the risks previously believed to be of low importance have been or will be actualized.

Self-evidently, the annual Krogerus Insolvency afternoon event, organized for the 21st time, focused on the risk posed by the economic downfall and uncertainty on companies. The forewords were delivered by Hannu Ylönen, Partner at Krogerus Restructuring & Insolvency and a discussion on the uncertain operational environment of businesses was opened by Martti Hetemäki, Professor of Practice at the Helsinki Graduate School of Economics.

Matti Engelberg, Founder at Engelberg&Co, LL.D. gave a talk on debt conversion, modern global restricting tools and the new EU Directive on restructuring and insolvency and Terhi Maijala from the Office of Bankruptcy Ombudsman presented the annual review regarding insolvency procedures.

Finally, Olli Rehn, President of the Bank of Finland, shared insight on the role of the European Central Bank in guiding the development of the economy through monetary policy and the future for Europeans amidst number of external economic stressors, as well as changing demographics and the aging population.

Krogerus thanks all speakers and guests for the great event and interesting discussions!