Legal Alerts / 7 Jan 2011

Legal alert – Environmental permit guarantees may also be granted by foreign EU-based financial institutions

In a unanimous yearbook decision the Finnish Supreme Administrative Court ruled that guarantee insurance is an adequate environmental permit security. Further, the Court, by referring to the free movement of financial services within the EU, stated that a party in an arrangement for security regarding adequate and proper security may be a financial institution based in another EU-country.

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