The Redemption Committee of the Finland Chamber of Commerce has appointed an Arbitral Tribunal consisting of three arbitrators for the redemption proceedings concerning the redemption of Biotie Therapies Corp.'s (Nasdaq Helsinki: BTH1V) (“Biotie”) shares not held by Acorda Therapeutics, Inc. (Nasdaq: ACOR) (“Acorda”). The Arbitral Tribunal comprises Professor Seppo Villa (Chairman), attorney Carita Wallgren-Lindholm and attorney Justus Könkkölä.
Biotie announced on 20 April 2016 that Acorda will initiate arbitral proceedings as provided in the Finnish Limited Liability Companies Act to effectuate the redemption of all remaining Biotie shares held by minority shareholders. In addition, Biotie announced on 10 June 2016 that the District Court of Finland Proper appointed with its decision attorney, MSc (Econ.) Jussi Perho to act as the trustee in the arbitration proceedings.