The Helsinki Court of Appeal has rejected the claims of Metsähallitus in the raw wood case

On 21.5.2018, the Helsinki Court of Appeal rendered its judgment in a case in which Metsähallitus claims damages from Metsäliitto Cooperative, Stora Enso Oyj and UPM-Kymmene Corporation based on their conduct on the wood market in 1997–2004. In its judgment, the Court of Appeal rejected the claims made by Metsähallitus and ordered Metsähallitus to compensate the defendants’ legal costs.

The total amount of the joint and several claim for damages made by Metsähallitus in the Court of Appeal was 124.9 million euros. Metsäliitto Cooperative’s share of the capital of the claimed damages was 39.1 million euros. In addition, Metsähallitus claimed compensation for indirect damages, VAT, interest and compensation for legal costs.

The Helsinki Court of Appeal has in its judgement concluded that the companies’ conduct has not been shown to have had a lowering impact on wood prices in 1997–2004.

The judgment of the Court of Appeal is not final.
https://www.metsagroup.com/en/media/all-news/Pages/News.aspx?EncryptedId=EC999C377319A4A0&Title=TheHelsinkiCourtofAppealhasrejectedtheclaimsofMetsahallitusintherawwoodcase

Related Posts

Resolute Appoints Patrice Minguez as President of Tissue Group

Resolute Forest Products Inc. announced the appointment of Patrice Minguez as president of the company's tissue group. This is a new role, reporting to Richard Garneau, president and chief executive officer. Patrice Minguez will serve as a member of Resolute's Executive Team and will oversee all tissue operations as well as sales and marketing functions. This includes the Atlas Tissue operations in Florida and the new state-of-the-art tissue and converting facilities at Calhoun, Tennessee. He will also be accountable for the company's Calhoun pulp and paper mill. Click Read More below for additional details.

Ahlstrom-Munksjö reactivates strategic review of its Decor business

Ahlstrom-Munksjö is exploring strategic options for its Decor business, including the possibility of divesting the business. The review process, first announced on September 17, 2019, has been impacted by the Covid-19 outbreak. In 2020, the Decor business saw strong customer demand with tailwinds from increased consumer spending on furniture and domestic refurbishments as a consequence of structural changes related to working from home accelerated by the Covid-19 pandemic. For the full year, comparable EBITDA increased, partly driven by higher raw material efficiency, and reached 14% of sales in the fourth quarter. In the past months, Ahlstrom-Munksjö has progressed with the carve-out of Decor with the objective of enabling the business to operate as a stand-alone entity. Decor has also been discussing opportunities for partnering with leading Chinese suppliers to create a more global leader with strong presence in Europe, South America and Asia.

Norbord Reports Second Quarter 2017 Results

Q2 2017 HIGHLIGHTS: •Adjusted earnings of $1.10 per diluted share, more than double Q2 2016. •Adjusted EBITDA of $165 million, $71 million higher than Q2 2016. •North Central benchmark OSB price averaged $330 per Msf, up 25% from Q2 2016. •Capacity utilization at Norbord's North American mills up 3% year-over-year. •Repaid $61 million in temporary drawings on accounts receivable securitization program. Click Read More below for additional details.
Back To Top
×Close search
Search