WARNING!!

Once upon a time some twenty-old years ago, western businessman worned us, taht Tax Board and Banks are their biggest enemies. We soon found out that the Tax Board really is an enemy, but it was only recently that we lost our trust in banks....



05.02.2010. E24. ‘Levada sought rehabilitation to protect himself from SEB’


Attention! The case of Viktor Levada, which he won't discuss because of his fear of the banks, is similar to the story of many successful Estonian companies who grew on bank loans: one of the guy's businesses is starting to go down the drains during recession... he worries about repaying his bank loans... the bank first asks for a personal surety... then asks him to bring all his businesses into the same so-called group account, all for the sake of good cooperation… then the bank seizes all businesses including the successful ones and tries to recover money for the struggling company from other companies… by selling them if necessary… and if that doesn't work, it goes after the guy's home, cars…


Harju County Court initiated the rehabilitation procedure of metal processing company OÜ Levadia Metall on 2 February. The company's owner Viktor Levada says that his company was forced to apply for rehabilitation to find protection from the short-sighted and uncompromising conduct of SEB Bank.
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