Key Actors in Finnish Arbitration Awarded Medals of Merit

Mika Savola was awarded The Chamber of Commerce Cross for his meritorious work for the FAI and contribution to the Finnish business and industry. Arbitration is an alternative dispute resolution method to litigation in state courts. It is generally considered as the most effective means of resolving both domestic and international commercial disputes. The FAI administers domestic and international arbitrations governed by its Rules and appoints arbitrators both in domestic and international arbitrations.

Savola has chaired the FAI Board since 2013. The new Arbitration Rules of the Finland Chamber of Commerce and the Rules for Expedited Arbitration of the Finland Chamber of Commerce entered into force on 1 June 2013. The Rules Revision Task Force was chaired by Savola. The Rules revision process brought the FAI into a new era during which the FAI’s activities have been continuously developed and its international profile greatly raised.

”The key objectives of the Rules revision process, such as the promotion of speed and cost-efficiency of arbitration proceedings, are successfully achieved. FAI arbitrations have been consistently efficient while meeting high quality standards. The median duration of arbitrations conducted under the FAI Arbitration Rules has been eight months during the past years. This is an excellent achievement in international comparison – even more so, if we take into account the increase in the number of international cases as well as the evolving complexity and higher monetary value of disputes. We have also seen a significant increase in the number of so called multiparty proceedings”, reports Ms Heidi Merikalla-Teir, the Secretary General of the FAI.

Mika Savola thanks his colleagues at the FAI Board and Secretariat for their professionalism and seamless cooperation in administering the cases and promoting arbitration in Finland.

He has no doubt that, with the help of the FAI, Finland can become one of the leading centres of international dispute resolution in Europe over the next few years.

“However, to reach that position, further assistance would be needed from the Finnish legislator as our current Arbitration Act is somewhat outdated and does not reflect all the best international norms and practices. Therefore, Finland would be well-advised to quickly modernize its arbitration law, preferably by adopting the UNCITRAL Model Law on International Commercial Arbitration without any meaningful amendments to it”, notes Savola.

Finland 100 - Special Medal of Merit awarded to Carita Wallgren-Lindholm

The Finland Chamber of Commerce has awarded attorney at law Carita Wallgren-Lindholm the Finland 100 – Special Medal of Merit for her valuable effort to increase the awareness of the Finnish arbitration and the FAI abroad.

Carita Wallgren-Lindholm has exceptionally broad international arbitrator experience in Finland and particularly abroad. She has served as a board member of the Arbitration Institute of the Central Chamber of Commerce of Finland (currently the FAI) during 1996-2001 and as a board member of the ICC Finland during 2008-2014. She has earned several international positions of trust. To mention a few, she is a member of the ICC International Court of Arbitration since 2012 and Vice-Chair of the ICC Commission on Arbitration and ADR since 2011.

More information:

The Secretary General of the FAI, Ms Heidi Merikalla-Teir, tel. +358 40 750 6106, heidi.merikalla-teir@arbitration.fi

The Chair of the Board of the Arbitration Institute of the Finland Chamber of Commerce, Mr Mika Savola, tel. +358 40 736 0866, mika.savola@hannessnellman.com

Attorney at law Carita Wallgren-Lindholm, tel. +358 (0)40 7698 211, carita@lindholmwallgren.com

Read more about the Arbitration Institute of the Finland Chamber of Commerce (FAI) at http://arbitration.fi 

Read more about the medals of merit of the Finland Chamber of Commerce at http://ansiomerkit.fi/en/