Helsinki District Court dismissed the plaintiffs’ claims in its 8 decisions of 31 August 2017 concerning claims brought by private forest owners
On 31 August 2017, Helsinki District Court has ruled on eight cases in which certain private forest owners have claimed compensation for damages from Metsäliitto Cooperative, Stora Enso Oyj and UPM-Kymmene Corporation. The plaintiffs have asserted that the defendants’ conduct on the raw timber market in Finland during 1997–2004 has caused damages to the plaintiffs in the form of under-pricing of raw timber.
Metsä Group Press release 31 August 2017
On 31 August 2017, Helsinki District Court has ruled on eight cases in which certain private forest owners have claimed compensation for damages from Metsäliitto Cooperative, Stora Enso Oyj and UPM-Kymmene Corporation. The plaintiffs have asserted that the defendants’ conduct on the raw timber market in Finland during 1997–2004 has caused damages to the plaintiffs in the form of under-pricing of raw timber.
Helsinki District Court dismissed the plaintiffs’ claims and ordered the plaintiffs to compensate the defendants’ legal expenses.
In the joint hearing held during the spring of 2017, Helsinki District Court has heard a total of 486 cases. The total financial value of the claims presented by the plaintiffs against the defendant companies, jointly and severally, is EUR 11,480,478.93. Metsäliitto Cooperative’s share of the claimed compensation is EUR 5,637,441.58. In addition to the damages, the plaintiffs have claimed interest and compensation for legal expenses.
The Helsinki District Court has estimated that the judgements in all cases presented in the joint hearing (remaining 478 claims) will be rendered by the end of the year 2017. In Metsäliitto’s understanding, decisions in the remaining cases will be in line with the judgements rendered today.
The judgements rendered on 31 August 2017 by the Helsinki District Court are not final.
METSÄ GROUP
Additional information:
Miika Arola, Group General Counsel, Metsä Group, tel. + 358 10 465 4205
Metsä Group is a forerunner in sustainable bioeconomy utilising renewable wood from sustainably managed northern forests. Metsä Group focuses on wood supply and forest services, wood products, pulp, fresh fibre paperboards and tissue and cooking papers.
Metsä Group’s sales totalled EUR 4.7 billion in 2016, and it employs approximately 9,300 people. The Group operates in some 30 countries. Metsäliitto Cooperative is the parent company of Metsä Group and is owned by approximately 104,000 Finnish forest owners.