Oulu District Court approves reorganization plan for Lehto Group Plc

The Oulu District Court has approved the reorganization plan for Lehto Group Plc. Attorney Klaus Majamäki has been appointed as the supervisor of the reorganization program, which aims to facilitate the company’s energy construction business. This plan entails the complete exit from Lehto Group’s construction activities, redirecting the focus towards energy solutions for properties and energy storage.

According to the announcement on the company’s website, launching the energy construction business requires the acquisition of €2.5 million in equity financing within three months from the time the reorganization plan’s approval becomes final, and an additional €2.5 million in either debt or equity financing by December 31, 2025. The deadlines for securing this financing may be extended with the supervisor’s consent.

The repayment plan is expected to last about five years. The last payments for unsecured reorganization debts are due by December 31, 2029, while secured debts are set to mature by November 30, 2027. The total amount of secured debts included in the reorganization plan is €3,470,974.20.

On February 6, the subsidiaries of Lehto Group, namely Lehto Asunnot, Lehto Tilat, and Lehto Korjausrakentaminen, filed for bankruptcy, which simultaneously led to the delisting of the company’s shares from the Nasdaq Helsinki stock exchange. In March, Lehto Group announced the sale of its entire stake in Insinööritoimisto Mäkeläinen Oy to a consortium comprising the engineering firm’s management, the engineering company Elvak, and Lehto Invest.