Refunds issued to residents of bankrupt housing cooperatives in Penttilänranta, Joensuu

Residents of the unfinished apartment buildings in Penttilänranta, Joensuu, have begun to receive refunds. The incomplete buildings are managed by two separate housing cooperatives. In one of them, Asunto oy Penttilän Mundus Joensuu, five apartments were sold before both the construction company and the cooperatives went bankrupt.

The unfinished building is located on a desirable riverside plot in the center of Joensuu. “For the apartment buyers, a resolution has been reached in which the purchase prices have been refunded almost in full,” said attorney Tatu Hirvonen, representing the buyers.

Currently, both bankrupt housing cooperatives are selling their assets through the bankruptcy estate, as confirmed by estate administrator Klaus Majamäki. However, Majamäki did not provide further details about the buyers or the future of the unfinished constructions.

The two housing cooperatives were declared bankrupt in November 2023, following the bankruptcy of the construction company Kesälahden rakennus oy in September. Items belonging to the bankruptcy estate, including tools and vehicles, have been sold at auction.