some press30 Apr 2015 13:46
The company has already been charged with a string of criminal negligence offences, over some of the largest environmental spills in Finnish history. Now, HS reports that police and Finland’s financial regulator are investigating whether the company failed to report its production difficulties quickly enough to shareholders.
HS says police have so far questioned Talvivaara’s board chair, Tapani Järvinen, and its CEO Pekka Perä, as well as its former Chief Financial Officer Saila Miettinen-Lähde over whether they tried to hide the scale of the firm’s problems from the markets between 2011 and 2013.
Meanwhile the paper also reports that Talvivaara’s creditors and shareholders have expressed openness to the prospect of the firm entering into a debt restructuring process, as an alternative to bankruptcy. The company’s largest shareholder is the Finnish state, which owns 15% of the company through its investment arm Solidium.