
The International Arbitration Court found the unilateral termination of the contract for the construction of the Hanhikivi-1 nuclear power plant by the Finnish Fennovioma to be unlawful.
The International Arbitration Court ICC declared illegal the unilateral termination by the Finnish company Fennovioma of the contract with Rosatom for the construction of the Hanhikivi-1 nuclear power plant in Finland.
AI-generated summary
The Finnish company Fennovioma previously unilaterally terminated the contract for the construction of the Hanhikivi-1 nuclear power plant.
The International Arbitration Court of the International Chamber of Commerce (ICC) declared the termination of the contract with Rosatom by the Finns illegal. Details are published by Interfax.
The unilateral termination of the contract by the Finnish Fennovioma for the construction of the Hanhikivi-1 nuclear power plant in Finland was considered unlawful. The court recorded that during the period of termination the project was actively developing. Rosatom companies showed progress in obtaining a license to build a power plant.
In addition, the company clarified that the final amounts to be recovered from the Finnish side will be determined based on the results of all legal proceedings. It is known that this is not the only proceeding initiated by Rosatom regarding the Hanhikivi-1 nuclear power plant project.
AI outlook — possibilities, not facts
Determination of the final amounts to be recovered following litigation
Likely · Within months

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The International Arbitration Court of the ICC declared illegal the unilateral termination by the Finnish company Fennovoima of the contract with Rosatom for the construction of the Hanhikivi-1 nuclear power plant. The final amounts of recovery will be determined by future courts.

The International Arbitration Court has declared Finland's unilateral termination of the contract with Rosatom for the construction of the Hanhikivi-1 nuclear power plant illegal. The court recorded progress in the implementation of the project at the time of termination of the agreements by the Finnish side.

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