Director's duty of care anf economic subfactors of the solvency test under the Finnish companies Act

Juha Jokinen

1. Introduction

One of the main innovations of the new Finnish Companies Act (624/2006, hereafter FCA) was the regulation of the distribution of assets partly in a new way according to Chapter 13, Section 2 of the FCA, as a so-called solvency test was adopted. In accordance with Article 15(1)(a) and (c) of the Second Company Law Directive (77/91/EEC), i.e. the so-called Capital Directive, the distribution of assets under the old Finnish Companies Act 12:2 § (734/1978) was provided for ...